That with respect to Report EC2025-0015, the following be adopted: That Council: Give first reading to proposed Bylaws 1B2025, 2B2025, 3B2025, 4B2025, authorizing The City to borrow up to the maximum sum of $224.984 million for financing ENMAXs 2025 capital spending, as further defined by the proposed Bylaws attached to this report and summarized as: 1B2025 5 Years - $36.561 million Acquisition of Technology and Support Services; 2B2025 10 Years - $7.806 million Acquisition of Fleet Equipment and Capital Tools; 3B2025 20 Years - $7.389 million Non-Residential Development; 4B2025 25 Years - $173.228 million Electric System and Building Improvements; Give first reading to proposed Bylaw 4M2025 Authorizing Municipal Loans to ENMAX up to the maximum sum of $224.984 million to fund ENMAXs 2025 capital spending in connection with its regulated operations; Withhold second and third reading of all proposed Bylaws until the advertising requirements have been met; and Sho
The City gave first reading to bylaws that would let it borrow up to $224.984 million and lend that money to ENMAX so ENMAX can pay for its 2025 capital projects (technology, fleet and tools, non-residential development, and electric system and building improvements). Second and third readings are withheld until required advertising is completed, and if fully approved the City will amend existing agreements with ENMAX as needed.
This motion would create a municipal loan of up to $224.984 million to finance ENMAX’s 2025 capital program—enabling those specific projects to be funded—while also triggering procedural steps (public advertising and further council readings) before final approval. The vote record lists the impact as high.