December 6, 2010 Special Council Minutes

A Special Meeting of Council was held Monday, December 6, 2010 in Council Chambers, Town Hall, Collingwood commencing at 2:07pm to consider debenture by-laws.
 
NOTICE:

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Dec 6_10 SP Council Mnts.pdf458.83 KB
 
MAYOR COOPER CALLED COUNCIL TO ORDER
 
Members of Council Present:                      
Mayor Cooper
Deputy Mayor Lloyd
Councillor Edwards
Councillor Lloyd
Councillor Chadwick
Councillor Hull
Councillor West
Councillor Cunningham
Councillor Gardhouse
 
Staff Present:            
Kimberly Wingrove, Chief Administrative Officer (regrets)
Sara Almas, Clerk (regrets)
Becky Dahl, Deputy Clerk
Ed Houghton, Executive Director of Public Works
Larry Irwin, Director of Information Technology
Marta Proctor, Director of Leisure Services (regrets)
Kay Blakely, Deputy Director of Finance
Nancy Farrer, Acting Director of Planning Services
 
ADOPTION OF AGENDA
No. 562            Moved by Deputy Mayor Lloyd
   Seconded by Councillor Lloyd
 
THAT the content of the Special Council Agenda for December 6, 2010, be adopted as presented.
 
CARRIED
 
Declaration of Pecuniary InterestAND/OR RECEIPT OF GIFT (over $200)
  • There were no declarations of pecuniary interest made at this time. 
BY-LAWS
Kay Blakely, Deputy Director of Finance provided a verbal presentation to Council outlining the steps involved in the borrowing process, a review of the four debenture by-laws as provided in Staff Report T2010-11- OIPC Application and Financing Agreements considered by the past Council on October 21, 2010, including the amount to be debentured and interest rates, and how the loan repayments will affect the tax rate. Ms. Blakely answered questions of Council with respect to whether increased assessment values for 2011 have been accounted for, revenue from building permits and development charges and borrowing terms.
 
Ms. Farrer will be providing Council with a review of the Places to Grow growth plan recommendations at a future meeting.
 
No. 563            Moved by Councillor Edwards
  Seconded by Councillor Hull
 
THAT By-law No.2010-135, being a by-law to authorize the borrowing upon serial Debentures in the amount of $3,485,686.00 towards the cost of certain capital works, be enacted and passed this 6th day of December 2010. (First Street widening)
 
   CARRIED
 
No. 564            Moved by Councillor Lloyd
   Seconded by Deputy Mayor Lloyd
 
THAT By-law No. 2010-136, being a by-law to authorize the borrowing upon serial Debentures in the amount of $2,708,450.00 towards the cost of a certain capital work, be enacted and passed this 6th day of December, 2010. (Downtown revitalization)
 
   CARRIED
 
No. 565            Moved by Councillor Chadwick
   Seconded by Councillor Gardhouse
 
THAT By-law No. 2010-137, being a by-law to authorize the borrowing upon serial Debentures in the amount of $750,000.00 towards the cost of certain capital works, be enacted and passed this 6th day of December, 2010. (Downtown revitalization)
 
CARRIED
 
No. 566            Moved by Councillor Hull
   Seconded by Councillor West
 
THAT By-law No. 2010-138, being a by-law to authorize the borrowing upon serial Debentures in the amount of $7,286,168.00 towards the cost of certain capital works, be enacted and passed this 6th day of December, 2010.(Library and Municipal Office Building)
 
  CARRIED
 
ADJOURNMENT
 
Moved by Councillor Cunningham
 
THAT the meeting of Council be hereby adjourned at 2:29pm.
 
CARRIED
 
 
______________________________
MAYOR
 
 
______________________________
CLERK
No. of Pages: 
2pages
AttachmentSize
Dec 6_10 SP Council Mnts.pdf458.83 KB