Title
First Reading of Debenture Borrowing Bylaw No. 25-2012 - Emergency Medical Services (EMS) Ambulance Station
Proposed Motion(s)
That Debenture Borrowing Bylaw No. 25-2012, for the purpose of constructing an EMS Ambulance Station, receive first reading.
Body
Administration Recommendation(s)
Administration advises that Council approve the first reading of the bylaw as presented.
Purpose
The purpose of this resolution is to provide approval to begin the debenture borrowing process as prescribed in the Municipal Government Act section 258 and in the Alberta Capital Finance Corporation borrowing manual.
Summary
Council has approved the Capital Budget to construct an EMS Ambulance Station to be leased to Alberta Health Services (AHS) over a twenty year period. Debenture borrowing has been identified as the source of funds for this project which is estimated to cost $5,794,200. The first step in the borrowing process is to pass first reading of a bylaw outlining the municipality's intention to borrow funds for the purposes of constructing an EMS Ambulance Station.
The next steps in the borrowing process are as follows:
Advertising of the bylaw for two consecutive weeks.
After the two week advertising period the 15 day petition period begins.
After the 15 day petition period ends and there is no petition 2nd and 3rd reading of the bylaw may be given.
Thirty days after 3rd reading the bylaw can be declared valid.
First draw on the borrowin will occur December 15, 2012.
*Note: Releveant sections of the MGA included Section 251, 253, 258, 273, 275 and 606.
Further detail and background are provided in the attached report.
Strategic Plan/Policy/Legal/Staff Implications (As Required)
This project meets the following Strategic Plan values and objectives:
Parkland County is showing leadership, cooperation and supporting community values in the region and province by collaborative...
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