Tag Archives: City debt

Loan for Central Library building – request to be considered by City Council

The reason for the quick RPL Board meeting on June 11th (see below) has become apparent !

On June 19 and June 26 City Council is set to approve a $119 Million loan for Central Library as part of long-term debt financing for the City.

“For the Central Library Renewal Project, the City will consider incurring debt in the maximum principal sum of $119 million. As part of this the City will consider the possibility of applying to the Saskatchewan Municipal Board for a debt limit increase from the current debt limit of $660 million to accommodate proceeding with this project. The goal of the Central Library Renewal Project is to provide a renewed Central Library to respond to community priorities, enhance Regina Public Library programs and services, improve quality of life for all, and support economic growth.”

City ad about vote and how to put in submissions, here City loan request for Central – ad June 8, 2024 and link.
https://www.regina.ca/export/sites/Regina.ca/city-government/city-page/.galleries/pdfs/June-8-2024-CityPage.pdf

To be “… considered by the City’s Executive Committee on June 19 at 9:00 am and City Council on June 26, 2024 at 1:00 p.m and may also be considered at subsequent meetings. Citizens who want to address the Executive Committee on June 19, 2024 may attend via teleconference or in person. To attend, you must register by completing the online form on Regina.ca/register no later than noon on June 17, 2024. … Citizens who want to address City Council on June 26, 2024 may attend the meetings via teleconference or in person. To attend Council, you must register by completing the online form on Regina.ca/register to request to address City Council on these matters. The deadline to register is no later than noon on June 24, 2024.  A written brief is required to present at a Council meeting.  Find more information about presenting to Council and Committees on Regina.ca. If attending by teleconference you must also provide the telephone number you will be using to call into the meeting with, when registering. You will receive meeting details and instructions after you have confirmed your attendance for the meeting.”

A June 2023 request to increase City debt by $330M was rejected by the Saskatchewan Municipal Board, who asked the City to reduce their request to $210M, for a total debt limit of $660M 
https://leaderpost.com/news/local-news/city-hall/city-asked-to-lower-debt-limit-request-to-660m-budget-preview