That Council: Give first reading to Bylaw 39M2025 (Revised Attachment 2), being the proposed bylaw to authorize The City to amend Bylaw 41M2014, as amended by Bylaws 17M2021 and 5M2023, to increase the amount and extend the term of The Citys guarantee of AHCCs revolving loan facility; Give first reading to Bylaw 7B2025 (Revised Attachment 3), being the proposed bylaw to authorize The City to borrow the required funds should The Citys guarantee, authorized per proposed Bylaw 39M2025, be called upon; Withhold second and third readings of the attached proposed Bylaws until the advertising requirements set out in the Municipal Government Act, RSA 2000, c. M-26, have been met; Direct Administration to amend any existing agreements between The City and AHCC, as applicable, to reflect AHCCs credit facility renewal with its financial institution, the content of the above-referenced Bylaws and The Citys Credit Documentation Loans and Loan Guarantees Policy and Procedures; and Direct that
Council gave first reading to bylaws that would let the City increase and extend its guarantee for AHCC’s revolving loan facility and authorize the City to borrow funds if that guarantee is called. The motion pauses final bylaw readings until the required public advertising is completed, directs Administration to update City–AHCC agreements and credit documentation, and keeps a related attachment confidential until review on July 15, 2028. (Source: City motion summary.)
The motion establishes the legal steps needed for the City to expand and extend its guarantee for AHCC’s revolving loan facility and to borrow funds if the guarantee is called; it also pauses bylaw finalization pending required public advertising, mandates updates to City–AHCC agreements and credit documentation, and sets a confidentiality period for a related attachment until July 15, 2028. (Source: City motion summary.)