Regional Municipality of Wood Buffalo

Report

Bylaw No. 19/021 - Repeal of Bylaw No. 16/001 - RRC Operating Line of Credit Guarantee Bylaw

Information

Department:Legal ServicesSponsors:
Category:Report

Attachments

  1. Printout
  2. 1. Bylaw No. 19.021 to Repeal Bylaw No. 16.001 RRC Operating Line of Credit Guarantee (This file has not yet been converted to a viewable format)
  3. 2. Bylaw No. 16.001 - RRC Operating Line of Credit Guarantee Bylaw (This file has not yet been converted to a viewable format)

Body

1.                  THAT Bylaw No. 19/021, being a bylaw to repeal the RRC Operating Line of Credit Guarantee Bylaw, Bylaw No. 16/001, be read a first time.

2.                  THAT Bylaw No.19/021 be read a second time.

3.                  THAT Bylaw No. 19/021 be considered for third reading.

4.                  THAT Bylaw No. 19/021 be read a third and final time.

5.                  THAT the Chief Administrative Officer be directed to exercise the Municipalitys membership rights by executing an ordinary resolution that approves amending the loan agreement between the Regional Recreation Corporation and the Royal Bank of Canada by lowering the amount of the revolving demand facility from $3,000,000 to $1,000,000 and increasing the VISA business program from $100,000 to $300,000.

Meeting History

Sep 10, 2019 4:00 PM Video Council Meeting

Caitlin Hanly, Municipal Legal Counsel, provided background information on the request before Council confirming that this is a governance matter.

Declaration

Councillor M. Allen indicated that as the request before Council, is not a funding request and does not impact the operation of the facility, he has no pecuniary interest and is able to vote on this matter.

RESULT:CARRIED [UNANIMOUS]
MOVER:Verna Murphy, Councillor
SECONDER:Jeff Peddle, Councillor
FOR:Don Scott, Mike Allen, Bruce Inglis, Keith McGrath, Phil Meagher, Verna Murphy, Jeff Peddle, Jane Stroud, Claris Voyageur
ABSENT:Krista Balsom, Sheila Lalonde
Sep 10, 2019 4:00 PM Video Council Meeting
RESULT:CARRIED [UNANIMOUS]
MOVER:Phil Meagher, Councillor
SECONDER:Jeff Peddle, Councillor
FOR:Don Scott, Mike Allen, Bruce Inglis, Keith McGrath, Phil Meagher, Verna Murphy, Jeff Peddle, Jane Stroud, Claris Voyageur
ABSENT:Krista Balsom, Sheila Lalonde
Sep 10, 2019 4:00 PM Video Council Meeting
RESULT:CARRIED [UNANIMOUS]
MOVER:Jane Stroud, Councillor
SECONDER:Mike Allen, Councillor
FOR:Don Scott, Mike Allen, Bruce Inglis, Keith McGrath, Phil Meagher, Verna Murphy, Jeff Peddle, Jane Stroud, Claris Voyageur
ABSENT:Krista Balsom, Sheila Lalonde
Sep 10, 2019 4:00 PM Video Council Meeting
RESULT:CARRIED [UNANIMOUS]
MOVER:Mike Allen, Councillor
SECONDER:Phil Meagher, Councillor
FOR:Don Scott, Mike Allen, Bruce Inglis, Keith McGrath, Phil Meagher, Verna Murphy, Jeff Peddle, Jane Stroud, Claris Voyageur
ABSENT:Krista Balsom, Sheila Lalonde
Sep 10, 2019 4:00 PM Video Council Meeting

THAT the Chief Administrative Officer be directed to exercise the Municipality’s membership rights by executing an ordinary resolution that approves amending the loan agreement between the Regional Recreation Corporation and the Royal Bank of Canada by lowering the amount of the revolving demand facility from $3,000,000 to $1,000,000 and increasing the VISA business program from $100,000 to $300,000.

RESULT:CARRIED [UNANIMOUS]
MOVER:Phil Meagher, Councillor
SECONDER:Jeff Peddle, Councillor
FOR:Don Scott, Mike Allen, Bruce Inglis, Keith McGrath, Phil Meagher, Verna Murphy, Jeff Peddle, Jane Stroud, Claris Voyageur
ABSENT:Krista Balsom, Sheila Lalonde