Borrowing Bylaw 1470

PUBLIC NOTICE TO ELECTORS OF THE CAMROSE COUNTY, PROVINCE OF ALBERTA

TAKE NOTICE that the Council of the Camrose County, in the Province of Alberta, has given First Reading to Borrowing By-law 1470 which will, upon final passage and approval, authorize the proper officers of the said Camrose County to borrow monies from the Alberta Capital Finance Authority or another authorized financial institution by way of debenture issue, to pay for the cost of construction of the Ervick Water Line Project;

The total cost of the aforesaid project amounts to $6,193,566.21. After deducting from this cost the amount of $2,600,000.00 to be received by way of MSI Capital Grant proceeds, the net amount to be borrowed on the credit and security of the municipality at large by the issue of debentures is $3,593,566.21. The debenture is repayable to the Alberta Capital Finance Authority or another authorized financial institution in instalments of combined principal and interest, over a period not to exceed twenty (20) years, and the interest not to exceed ten (10) percent.

NOW THEREFORE NOTICE is hereby given by the Council of Camrose County that, unless a petition of the electors for a vote on By-law 1470 is demanded, as provided for by the terms of Section 231 of the Municipal Government Act, the said Council may pass the said Borrowing By-law.

All persons interested are hereby notified and they are required to govern themselves accordingly.

For a copy of By-law 1470 please call the County Office at 780-672-4446,  or click here.

DATED at Camrose County, in the Province of Alberta, this 20th day of April, 2020.

Camrose County

PER: PAUL KING

Chief Administrative Officer