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Bylaw C-8712-2026
Page 1 of 4
BYLAW C-8712-2026
A Bylaw of Rocky View County, in the Province of Alberta, to authorize the borrowing of
money for the purpose of financing operating expenditures in accordance with the
Municipal Government Act.
The Council of Rocky View County enacts as follows:
Title
1
This bylaw may be cited as the 2026 - 2028 Operating Short-Term Borrowing Bylaw.
Definitions
2
Words in this bylaw have the same meaning as those set out in the Municipal Government Act
except for the definitions provided in Schedule 'A' of this bylaw.
Effect
3
Pursuant to section 251 and 256 of the Municipal Government Act, Council authorizes the
borrowing of money from Rocky View County's financial institution to meet the County's operating
expenditures, subject to the following:
(1)
the amount of any borrowings, excluding interest, made pursuant to this bylaw must not
exceed a total of $5,000,000 at any one time;
(2)
borrowings may be made pursuant to this bylaw in one lump sum, or in more than one
smaller sum, so long as the total amount of all borrowings, excluding interest, does not
exceed a total of $5,000,000 at any one time;
(3)
the term of any borrowings made pursuant to this bylaw must not exceed three years, in
accordance with section 256(3) of the Municipal Government Act;
(4)
the term of repayment for any borrowings made pursuant to this bylaw must not exceed
three years, in accordance with section 256(3) of the Municipal Government Act; and
(5)
the maximum interest rate to be paid on any borrowings made pursuant to this bylaw
must not exceed 8%
4
All amounts borrowed pursuant to this bylaw are to be borrowed on the general credit and security
of Rocky View County and will be repaid to the County's financial institution through property tax
revenues and user fee revenues on a monthly basis.
Bylaw C-8712-2026
Page 2 of 4
5
Pursuant to section 252 of the Municipal Government Act, any borrowings made pursuant to this
bylaw must fall within Rocky View County's debt limit.
6
Pursuant to section 256(2) of the Municipal Government Act, any borrowings made pursuant to
this bylaw must not exceed the amount that Rocky View County estimates will be raised in taxes
in the year the borrowing is made.
7
Council authorizes the Chief Administrative Officer and the Reeve to borrow money pursuant to
this bylaw and to enter into and execute any documents required by Rocky View County's financial
institution, which may include, but is not limited to:
(1)
applications to the County's financial institution;
(2)
any agreements and related documents;
(3)
any financial instruments and related documents;
(4)
any securities and related documents; and
(5)
any term extensions;
for any and all borrowings made pursuant to this bylaw.
8
Any agreement, instrument, security, or related document entered into and executed by the Chief
Administrative Officer and the Reeve will serve as proof of Council's authorization to act under this
bylaw without the need to verify the authority of the Chief Administrative Officer or Reeve.
9
Nothing in this bylaw relieves the Chief Administrative Officer or the Reeve from compliance with
Rocky View County's established financial bylaws, policies, and procedures when borrowing
money pursuant to this bylaw.
Effective Date
10
Bylaw C-8712-2026, being the 2026 - 2028 Operating Short-Term Borrowing Bylaw, is passed
and comes into full force and effect when it receives third reading and is signed in accordance
with the Municipal Government Act.
Bylaw C-8712-2026
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Bylaw C-8712-2026
Schedule 'A' - Definitions
1
"Council" means the duly elected Council of Rocky View County.
2
"Chief Administrative Officer" means the person appointed as Rocky View County's Chief
Administrative Officer, or their authorized delegate, pursuant to the Municipal Government Act.
3
"Debt limit" means Rocky View County's debt limit as determined by the Debt Limit Regulation.
4
"Debt Limit Regulation" means the Debt Limit Regulation, Alberta Regulation 255/2000, as
amended from time to time.
5
"Municipal Government Act" means the Municipal Government Act, RSA 2000, c M-26, as
amended or replaced from time to time.
6
"Reeve" means the person elected or appointed as Rocky View County's Chief Elected Official,
or their authorized delegate, pursuant to section 150 of the Municipal Government Act.
7
"Rocky View County" means Rocky View County as a municipal corporation and the
geographical area within its jurisdictional boundaries, as the context requires.