Public Notice - $6 million Debenture Borrowing Bylaw

Section 251 – THE MUNICIPAL GOVERNMENT ACT

TAKE NOTICE that the Council of the Municipality of Lamont County, in the Province of Alberta, has given first reading to borrowing Bylaw No. 763.16 which will, upon final passage and approval, authorize the proper officers of the said Lamont County to borrow monies from the Alberta Capital Finance Authority by way of debenture issue, to pay for the cost of the following municipal purpose, namely the construction of an all-weather gravel road on Township Road 560 from Highway 45 to Secondary Highway 831, within the limits of the said municipality

The total cost of the aforesaid project amounts to $6,673,000. After deducting from this cost the amount of $673,000, of which $464,249 is to be received by way of Lamont County Capital Reserves, and $208,751 to be received by way of Provincial Grants, the net amount to be borrowed on the credit and security of the municipality at large by the issue of debentures is $6,000,000. The debentures are to be repayable to the Alberta Capital Finance Authority in 40 equal consecutive semi-annual instalments of combined principal and interest, the semi-annual interest not to exceed three per centum (3%), or the interest rate as fixed from time to time by the Alberta Capital Finance Authority;

NOW THEREFORE NOTICE is hereby given by the Council of the Municipality of Lamont County that, unless a petition of the residents for a vote on Bylaw 763.16 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.

All persons interested are hereby notified and they are required to govern themselves accordingly.
DATED at the Town of Lamont, in the Province of Alberta, this 13 day of May, 2016.

Lamont County


Per: Robyn Singleton
Chief Administrative Officer
Pursuant to Section 1(i) of the Municipal Government Act an “elector” means:

1. A person who is eligible to vote in the election for a councilor 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/she:
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.

Unless otherwise provided in the Municipal Government Act, or any other enactment, only electors of a municipality are eligible to be petitioners.

A petition must be signed by the required number of petitioners. In order to be sufficient, the petition must be signed,
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 24 day of May, 2016.