Regional Council

That Council receive the presentation by Bruce Macgregor, Chief Administrative Officer.

That Council receive the presentation by Laura Mirabella, Commissioner of Finance and Regional Treasurer

That Council receive the memorandum from Laura Mirabella, Commissioner of Finance and Regional Treasurer dated June 12, 2019

That Council adopt the following recommendation in the report dated June 12, 2019 from the Commissioner of Finance: Council receive this report for information.

That Council adopt the following recommendation: Council approve that the Roads Capital Acceleration Reserve be renamed to Transportation Capital Acceleration Reserve Fund.

authorize funding required for the Roads Capital Acceleration Reserve Fund from the following tax levy sources: The one per cent additional tax levy approved as part of the 2019 Budget for the Roads Capital Acceleration Reserve Fund, equivalent to $10.7 million per year, plus A $10.1 million contribution from the 2018 operating surplus, plus Draws from the Roads Infrastructure Reserve using money freed up by the one-time 2019 Federal Gas Tax Municipal Top-Up funding, plus Transfers from the Debt Reduction Reserve as required, plus Interest earned on this reserve, plus Any additional future contributions as per Council direction. Funds advanced from this reserve would be repaid from development charge collections in the year the accelerated projects were originally scheduled to be funded in the Region’s capital plan. Council amend the Reserve and Reserve Fund Policy to include the addition of the Roads Capital Acceleration Reserve Fund, as described in this resolution. The Regional Solicitor be authorized to prepare the necessary bylaws for this reserve.

DiPaola That Council defer consideration of the private report dated June 11, 2019 from the Chief Administrative Officer to Council's private session on June 27, 2019.

That Council enact Bylaw No. 2019-36 to confirm the proceedings of this meeting of Council held on June 20, 2019.