Bylaw 08-2023 — Wastewater Transmission Line: Darwell to Tri-Village — full text

This is an automated transcription (OCR) of the captured official document — minor recognition errors are possible; the source document governs. Snapshot e49d533df696 · verified 2026-06-08 · original document · archived snapshot · unofficial consolidation, the official version is held by the municipal clerk.

## LAC STE. ANNE COUNTY PROVINCE OF ALBERTA BYLAW 08-2023 This bylaw authorizes the Council of Lac Ste. Anne County, (hereinafter called "th "ounty") to incur indebtedness by the issuance of debenture in the amount of $1,200,00 for the construction of the Wastewater Transmission line from Darwell to the Tri Village. ## WHEREAS: The Council of the County has decided to issue a bylaw pursuant to Section 258 of the Municipal Government Act to authorize financing of the project; Plans and specifications have been prepared and the total cost of the project is estimated to be $1,200,000 and the County estimates the following will be applied to the project: Capital Reserves Grants Debenture(s) Other contribution Total Cost $0.00 $10,620,000 $1,200,000 $0.00 $11,820,000 In order to complete the project, it will be necessary for the County to borrow the sum of $1,200,000 for a period not to exceed 25 years from the Alberta Finance or another authorized financial institution, by the issuance of debentures and on the terms and conditions referred to in this bylaw; The estimated lifetime of the project financed under this bylaw is equal to, or in excess of TWENTY-FIVE (25) years; The principal amount of the outstanding debt of the Municipality at December 31, 2022 is $9,095,471.82 and no part of the principal or interest is in arrears; All required approvals for the project have been obtained and the project is in compliance with all Acts and Regulations of the Province of Alberta. ## NOW THEREFORE THE COUNCIL OF THE COUNTY DULY ASSEMBLED, ENACTS AS FOLLOWS: 1. That for the purpose of construction of the Wastewater Transmission line from Darwell to the Tri Village the sum not to exceed ONE MILLION TWO HUNDRED THOUSAND DOLLARS ($1,200,000) be borrowed from the Alberta Finance or an authorized financial institution by way of debenture on the credit and security of the Municipality at large, of which the full sum of $1,200,000 is to be paid by the Municipality at large. 2. The proper officers of the County are hereby authorized to issue debt on behalf of the County for the amount and purpose as authorized by this bylaw, namely the construction of the Wastewater Transmission line from Darwell to the Tri Village. 3. The County shall repay the indebtedness according to the repayment structure in effect, namely semi-annual or annual equal payments of combined principal and interest instalments not to exceed TWENTY FIVE (25) years calculated at a rate not exceeding the interest rate fixed by the Alberta Finance or another authorized financial institution on the date of the borrowing, and not to exceed SEVEN (7%) percent. 4. The County shall levy and raise in each year municipal taxes sufficient to pay the indebtedness. 5. The indebtedness shall be contracted on the credit and security of the County. 6. The net amount borrowed under the bylaw shall be applied only to the project specified by this bylaw. 7. This bylaw comes into force on the date it is passed. READ A FIRST TIME THIS 23rd DAY of February 2023 READ A SECOND TIME THIS DAY RApril 2023. READA THIRD ME THIS DAv april 2023.   Dale (CHTER ADMINISTRATIVE OFFICER SEAL