Rocco Rossi, a former Liberal Party national director, became the first to officially enter Toronto’s mayoral race when he filed his nomination form Monday morning.

Nominations are now being accepted until Sept. 10 for the mayor’s job, as well as spots as a councillor or school board trustee.

After a political hopeful submits their paperwork, they may also begin to solicit or accept contributions for an election campaign.

Rossi wasted no time to officially enter his nomination, dropping off his form first thing in the morning at 8:30 a.m. at City Hall.

He says selling city assets, such as Toronto Hydro, may help pay off Toronto’s debt and fund public transit.

“Unless we sell non-strategic assets to turn it in to A, debt repayment and B, spending on the assets we do want and do need as a city, we’re never going to get there,” he says, adding that Toronto Hydro isn’t essential to running a city.

Rossi also said he’d take a 10 per cent pay cut as mayor - if he’s elected – to set an example about keeping costs under control.

Former deputy premier George Smitherman has resigned as the member of provincial parliament for Toronto Centre, clearing the way for his bid to become mayor of Toronto.

Smitherman stepped down from cabinet last fall when he made it clear he intends to run for mayor of Canada's biggest city, but kept his job as a member of the legislature until now.

George Smitherman says he won’t be filing his nomination form this week. Giorgio Mammoliti, meanwhile, says he may submit his paperwork this week.

With files from The Canadian Press