Title
Strategic Land Acquisition Loan Authorization Bylaw 2019 and Alternative Approval Process
Bylaw No. 5509
Report 19-33
File FIN 1760-20
Recommended Action
That Council give first, second and third reading to “Strategic Land Acquisition Loan Authorization Bylaw 2019 No. 5509”, for the purpose of borrowing funds in the amount of $67.67 million for a strategic land acquisition capital project within the 2020 Land Acquisition Capital Program repayable from general revenue and development cost charges; and
That Council provide an Alternative Approval Process, in accordance with Section 86 of the Community Charter, for the Strategic Land Acquisition Loan Authorization Bylaw 2019 No. 5509 as outlined in items (a) to (e) below with respect to the Alternative Approval Process.
a) Elector responses shall be in the form set out in Attachment “C”.
b) The deadline for the submission of elector responses forms shall be 4:30 PM on Monday, November 29, 2019 (the “Deadline”).
c) The Township Clerk is authorized to prepare an Alternative Approval Process Notice which must be published once each week for two consecutive weeks with the second publication being at least 30 days before the deadline.
d) This Alternative Approval Process applies to the entire area of the Township, and a fair determination of the total number of electors of the Township of Langley is 85,452.
e) The Township Clerk is authorized to undertake any further steps required to carry out the Alternative Approval Process in accordance with the Community Charter.
Explanation - Bylaw No. 5509
Bylaw 2019 No. 5509 authorizes the Township of Langley to borrow $67.67 million towards the estimated cost of Strategic land acquisition capital project.
Clerk’s Note: No report is included in the Regular Evening agenda package as this was dealt with as a property matter.