Placement: Consent Agenda
Action Requested: Motion / Vote
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Annual Update Amending Exhibit B of Resolution 24-R43, Revising the Project List to Ensure Continued Access to Commercial Paper Funding
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Submitted By: Charlie Proulx, Deputy Director, Finance Department.
Strategic Plan Link: The City's Goal of a high-performing city government organization.
Executive Summary (General Business): Potential projects for the commercial paper funding were outlined in Resolution 24-R43, Exhibit B. As part of the City's routine updates, the project list has been revised for the new fiscal year to ensure continued access to commercial paper funding. This will allow for flexibility in financing future projects without delay.
Presentation Information: N/A
Staff Recommendation: Move that the Council approve amending Exhibit B of Resolution 24-R43.
Alternate Recommendations:
1. Move that the Council amend the recommendation and approve amending Exhibit B of Resolution 24-R43.
2. Move that the Council provide staff direction.
Background: In August 2024, the City Council approved Resolution 24-R43, which authorized the issuance of commercial paper to finance a specific list of identified projects. This resolution aimed to provide a flexible, low-cost funding mechanism for capital improvements. As part of the City's ongoing efforts to streamline project funding, the original list of projects has been reviewed and updated to reflect the latest priorities for the new fiscal year. This update ensures that newly identified projects can be financed promptly through commercial paper issuance, without needing further delays in securing funding approval. The project list will continue to be reviewed annually to maintain alignment with future funding needs.
Issues/Analysis: N/A
Financial Information: N/A
Special Consideration: N/A
Location of Project: N/A
Attachments: 1. Resolution 24-R43
2. Exhibit B Project List Draft
NOTE: All of the listed items in the...
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