PFC2014-0538

That with respect to Report PFC2014-0538, the following be adopted: That Council: 1. File the Recommendations of the Priorities and Finance Committee; 2. Give first reading to Loan Bylaw 43M2014 to support a secured loan of up to $5.0 million to St. Mary‟s University College for a term of not longer than 20 years, the proceeds of which are to finance development charges, acreage assessments, and inspection fees to be owed to The City of Calgary; 3. Direct Administration to negotiate and execute a loan agreement, the terms and conditions of which will include at a minimum: A. Collateral mortgage in first position with respect to any other financial charge; and, B. General Security Agreement registered in first position at the Alberta Personal Property Registry; and, C. Irrevocable assignment of unrestricted investments and/or deposit accounts to the satisfaction of Administration. 4. Give first reading to Borrowing Bylaw 11B2014 to support a loan of up to $5.0 million for a term not longer than 20 years; and 5. Direct that Report PFC2014-0538 and the Attachments remain confidential pursuant to Sections 24(1)(a), 24(1)(g), and 25(1)(c) of the Freedom of Information and Protection of Privacy Act, with the exception of St. Mary‟s University College, until all agreements related to this project are signed.