Public Notice - Borrowing By-Law 1487

Take Notice:

That the Council of the Camrose County, in the Province of Alberta, has given first reading to borrowing By-law No. 1487 which will, upon final passage and approval, authorize the proper officers of the said Camrose County to borrow monies from the Province of Alberta or another financial institution, by way of debenture issue, to pay for a portion of the costs of construction of the new Camrose County Seed Cleaning Facility located on PT. NE 17-46-19 W4 

The total cost of the aforesaid project amounts to $7,314,731.00. After deducting from this cost the amount of $5,087,731.00.00 to be received by way previous contributions and cash from Camrose County, the net amount to be borrowed on the credit and security of the municipality at large by the issue of debentures is $2,234,000.00. The debenture is repayable to the Province of Alberta or another authorized financial institution, in forty (40) equal consecutive semi-annual instalments of combined principal and interest, the semi-annual interest not to exceed five per centum (5%), or the interest rate as fixed from time to time by the Province of Alberta;

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 No. 1487 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.

DATED at Camrose County, in the Province of Alberta, this 24th day of March, 2021.

Camrose County

PER: PAUL KING

Chief Adminstrative Officer

 

INFORMATION FOR ELECTORS

Pursuant to Section 1(i) of the Municipal Government Act an "elector" means:

A person who is eligible to vote in the election for a councillor under the Local Authorities Election Act.

Pursuant to section 47(1) of the Local Authorities Election Act a person is eligible to vote in an election if he:

  1. is at least 18 years old,
  2. is a Canadian citizen, and
  3. has resided in Alberta for the 6 consecutive months immediately preceding election day and is resident in the area on election day.

A poll may be demanded in Camrose County by electors equal in number to at least:

  1. in the case of a municipality other than a summer village, by electors of the municipality equal in number to at least 10% of the population and
  2. in the case of a summer village, by 10% of the electors of the summer village

in accordance with the provisions of section 231 of the Municipal Government Act and in accordance with the provisions of section 251 of the Municipal Government Act.

The petition for a vote must be received by the Chief Administrative Officer within 15 days of the last publication of this notice and shall contain on each page "an accurate and identical statement of the purpose of the petition". (Further requirements of the petition are provided in section 224 of the Municipal Government Act.)

DATE of the first publication of this notice is the 30th, day of March, 2021.

DATE of the last publication of this notice is the 6th, day of April, 2021.

 

A copy of Bylaw 1487 is available at the Camrose County Administration Building or can be viewed here.