Borrowing Bylaw 1054, 2020 - Frank Wastewater Treatment Plant
TAKE NOTICE THAT the Council of the Municipality of Crowsnest Pass has given first reading to Borrowing Bylaw 1054, 2020.
This by-law authorizes the Council of the Municipality to incur indebtedness by the issuance of debenture(s) in the amount of $3,000,000 for the purpose of the Construction of the Frank Wastewater Treatment Plant (Phase 1,3 and 4).
The Municipality shall repay the indebtedness according to the repayment structure in effect, namely semi-annual payments of combined principal and interest instalments not to exceed twenty (25) years calculated at a rate not exceeding the interest rate fixed by the Alberta Capital Finance Authority or another authorized financial institution on the date of the borrowing, and not to exceed Eight (8) percent.
NOW THEREFORE NOTICE is hereby given by the Council of the Municipality of Crowsnest Pass that, unless a petition of the owners for a vote on Bylaw 1054, 2020 is demanded, as provided for by the terms of Section 231 of the Municipal Government Act, the said Council may pass the said borrowing bylaw.
DRAFT Bylaw 1054, 2020 - Borrowing Bylaw - Frank Wastewater Treatment Plant (Phase 1, 3 and 4).
To submit a petition in accordance with Section 231 of the Municipal Government Act:
Electors may submit a petition for a vote of the electors to determine whether the proposed bylaw or resolution should be passed.
A petition must be submitted within 15 days after the last date on which the proposed bylaw or resolution is advertised.
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 the person
- is at least 18 years old,
- is a Canadian citizen,
- resides in Alberta and the person’s place of residence is located in the local jurisdiction on election day
And in accordance with Section 223 and Section 251 of the Municipal Government Act, a poll may be demanded in the Municipality of Crowsnest Pass by electors equal to at least 10% of the population.
The petition for a vote must be received by the Chief Administrative Officer within 15 days of the last publication of the 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.