Council votes
BylawNo. 7450

Public Works Yard Updates Borrowing Bylaw 2026 No. 7450

Adopted 23 Mar 2026The vote
Topic: Economy Categories: Economic Development, Infrastructure & Public Services, Governance & Civic Engagement 5 recorded votes 23 Feb 2026 to 25 May 2026 Split

What it does

Motion
to authorize the borrowing of up to $76,680,000 for the construction of the Public Works Yard Updates
The motion, 23 Feb 2026
Purpose
To seek direction from Council to proceed with the Public Works Yard Updates project to completion.
Staff report, page 1
Staff recommendation
1. That Council direct Staff to increase the budget for the Public Works Yard Updates project by $77,675,000 in the 2026 – 2030 Financial Plan funded by: a. $726,350 from the General Asset Management Reserve Fund; b. $89,550 from the Sewer Operating Reserve; c. $179,100 from the Water Operating Reserve; and, d. $76,680,000 in long-term borrowing. 2. That “Public Works Yard Updates Borrowing Bylaw No. 7450” (to authorize the borrowing of up to $76,680,000 for the construction of the Public Works Yard Updates) pass first reading. 3. That “Public Works Yard Updates Borrowing Bylaw No. 7450” pass second reading. 4. That “Public Works Yard Updates Borrowing Bylaw No. 7450” pass third reading. 5. …
Staff report, page 1

Votes

  1. 23 Feb 2026other
    Carried 7–1Absent 1Split

    That Council direct Staff to increase the budget for the Public Works Yard Updates project by $77,675,000 in the 2026 – 2030 Financial Plan funded by: a. $726,350 from the General Asset Management Reserve Fund; b. $89,550 from the Sewer Operating Reserve; c. $179,100 from the Water Operating Reserve; and, d. $76,680,000 in long-term borrowing.

    The voteMinutes, page 11City vote record
  2. 23 Feb 2026other
    Carried 7–1Absent 1Split

    That Council direct Staff to negotiate and execute the agreements necessary to complete the Public Works Yard Updates project within the approved budget.

    The voteMinutes, page 12City vote record
  3. 23 Feb 2026first, second and third reading
    Carried 7–1Absent 1Split

    That “ Public Works Yard Updates Borrowing Bylaw No. 7450” (to authorize the borrowing of up to $76,680,000 for the construction of the Public Works Yard Updates), pass first reading. That “ Public Works Yard Updates Borrowing Bylaw No. 7450”, pass second reading. That “ Public Works Yard Updates Borrowing Bylaw No. 7450”, pass third reading.

    The voteMinutes, page 12City vote record
  4. 23 Mar 2026adoption
    Carried 7–1Absent 1Split

    That "Public Works Yard Updates Borrowing Bylaw 2026 No. 7450” be adopted.

    The voteMinutes, page 12City vote record
  5. 25 May 2026other
    Carried 8–1Split

    That Council approve borrowing $10,570,000 from the Municipal Finance Authority of British Columbia, as part of the 2026 fall Borrowing Session, as authorized through “ Public Works Yard Updates Borrowing Bylaw 2026 No. 7450”; and, that the Regional District of Nanaimo be required to consent to the City of Nanaimo borrowing the $10,570,000 over a twenty (20) year term and include the borrowing in a Security Issuing Bylaw.

    The voteMinutes, page 11City vote record

Voted No

Documents