Public Notice - Borrowing Bylaw No. 1574
Posted on:PUBLIC NOTICE TO ELECTORS OF THE TOWN OF WHITECOURT, PROVINCE OF ALBERTA
SECTION 251 - THE MUNICIPAL GOVERNMENT ACT
TAKE NOTICE that the Council of the Town of Whitecourt, in the Province of Alberta, has given first reading to borrowing By-law No. 1574 which will, upon final passage and approval, authorize the proper officers of the said Town to borrow monies from the Province of Alberta by way of debenture issue, to pay for the cost of the following municipal purpose(s), namely the construction of the Culture & Event Centre that includes an Administration Office, Library and Arts, Culture and Convention Centre;
The total cost of the aforesaid project amounts to $48,406,365. After deducting from this cost the amount of $42,810,525 to be received by way of grants, reserves, sponsorship and sale of assets the net amount to be borrowed on the credit and security of the municipality at large by the issue of debentures is $5,595,840. The debentures are to be repayable to the Province of Alberta up to fifty (50) equal consecutive semi-annual instalments of combined principal and interest, the semi annual interest not to exceed eight per centum (8.0%), 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 the Town of Whitecourt that, unless a petition of the owners for a vote on By-law No. 1574 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 the Town of Whitecourt, in the Province of Alberta, this 18th day of December, 2023.
Town of Whitecourt
PER:
Judy Barney
Director of Corporate Services
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:
a) is at least 18 years old,
b) is a Canadian citizen, and
c) 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 the Town of Whitecourt by electors equal in number to at least
a) 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
b) in the case of a summer village, by 10% of the electors of the summer village
in accordance with the provisions of section 223 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 last publication of this notice is the 16th day of January, 2024.