Item - 2013.MM36.21

Tracking Status

  • City Council adopted this item on June 11, 2013 without amendments.

MM36.21 - Funding Transit and Infrastructure Priorities in Canada's Largest City - by Councillor Josh Matlow, seconded by Councillor Peter Milczyn

Decision Type:
ACTION
Status:
Adopted
Wards:
All

City Council Decision

City Council on June 11, 12 and 13, 2013, adopted the following:

 

1.         City Council request the City Manager to report to the Executive Committee on the following:

 

            a.         initiatives and best practices used in other jurisdictions to reduce the cost of servicing municipal debt,  including but not limited to:

 

                        i.          tax-free or exempt municipal bonds such as was used with “Ontario Opportunity Bonds”; and

 

                        ii.         direct-pay municipal bonds such as “Build America Bonds” in the United States; and

 

            b.         recommended actions for City Council to request the Federal and Provincial governments can take to reduce the cost of servicing municipal debt and increase the City’s capacity to invest in its infrastructure priorities.

Background Information (City Council)

Motions (City Council)

Motion to Waive Referral (Carried)

Speaker Nunziata advised Council that the provisions of Chapter 27, Council Procedures, require that Motion MM36.21 be referred to the Executive Committee.  A two-thirds vote of the Council Members present is required to waive referral.

Vote (Waive Referral) Jun-12-2013 3:05 PM

Result: Carried Two-Thirds Required - MM36.21 - Waive referral
Total members that voted Yes: 41 Members that voted Yes are Paul Ainslie, Maria Augimeri, Ana Bail„o, Michelle Berardinetti, Shelley Carroll, Raymond Cho, Josh Colle, Gary Crawford, Vincent Crisanti, Janet Davis, Glenn De Baeremaeker, Mike Del Grande, Frank Di Giorgio, Sarah Doucette, John Filion, Paula Fletcher, Doug Ford, Rob Ford, Mary Fragedakis, Mark Grimes, Doug Holyday, Mike Layton, Chin Lee, Gloria Lindsay Luby, Giorgio Mammoliti, Josh Matlow, Pam McConnell, Mary-Margaret McMahon, Joe Mihevc, Peter Milczyn, Ron Moeser, Frances Nunziata (Chair), Cesar Palacio, James Pasternak, Gord Perks, Anthony Perruzza, Jaye Robinson, Karen Stintz, Michael Thompson, Adam Vaughan, Kristyn Wong-Tam
Total members that voted No: 3 Members that voted No are Denzil Minnan-Wong, John Parker, David Shiner
Total members that were Absent: 1 Members that were absent are Norman Kelly

Motion to Adopt Item (Carried)

Vote (Adopt Item) Jun-12-2013 3:06 PM

Result: Carried Majority Required - MM36.21 - adopt the item
Total members that voted Yes: 43 Members that voted Yes are Paul Ainslie, Maria Augimeri, Ana Bail„o, Michelle Berardinetti, Shelley Carroll, Raymond Cho, Josh Colle, Gary Crawford, Vincent Crisanti, Janet Davis, Glenn De Baeremaeker, Mike Del Grande, Frank Di Giorgio, Sarah Doucette, John Filion, Paula Fletcher, Doug Ford, Rob Ford, Mary Fragedakis, Mark Grimes, Doug Holyday, Mike Layton, Chin Lee, Gloria Lindsay Luby, Giorgio Mammoliti, Josh Matlow, Pam McConnell, Mary-Margaret McMahon, Joe Mihevc, Peter Milczyn, Denzil Minnan-Wong, Ron Moeser, Frances Nunziata (Chair), Cesar Palacio, John Parker, James Pasternak, Gord Perks, Anthony Perruzza, Jaye Robinson, Karen Stintz, Michael Thompson, Adam Vaughan, Kristyn Wong-Tam
Total members that voted No: 1 Members that voted No are David Shiner
Total members that were Absent: 1 Members that were absent are Norman Kelly
Source: Toronto City Clerk at www.toronto.ca/council