EC2023-0197

That with respect to Report EC2023-0197, the following be adopted: That Council: Give first reading to Proposed Bylaw 5B2023 (Attachment 2), being the proposed bylaw authorizing The City of Calgary (The City) to borrow up to the maximum amount of $45 million for financing capital projects of the Calgary Municipal Land Corporation; Give first reading to Proposed Bylaw 6B2023 (Attachment 3), being the proposed bylaw to amend Bylaw 9B2021 authorizing The City to increase the borrowing authority from the maximum amount of $135 million to $165 million for financing the development of Phase 1 of the Arts Commons Transformation Capital Project; Give first reading to Proposed Bylaw 10M2023 (Attachment 4), being the proposed bylaw authorizing loans in the maximum amount of $45 million to the Calgary Municipal Land Corporation; Give first reading to Proposed Bylaw 9M2023 (Attachment 5), being the proposed bylaw to amend Bylaw 56M2021 authorizing the increase of the amount of loans to the Calgary Municipal Land Corporation from the maximum amount of $135 million to $165 million; Withhold second and third readings until the advertising requirements set out in the Municipal Government Act, RSA 2000, c. M-26, have been met; and Direct Administration to amend any existing agreements between The City and the Calgary Municipal Land Corporation as applicable and in accordance with the Credit Documentation Loans and Loan Guarantees Policy and Procedures.