I'm sure the city's motto isn't going to change. The motto was chosen when Moncton reincorporated in 1875. Resurgo is an excellent motto, representing ambition, optimism and growth. It's also in Latin which should satisfy any concerns regarding bilingualism (although Nova Scotia is Latin and the French insist on calling it Nouvelle Ecosse).
The new monument will be large - 7M, which is over 20 feet.