Debenture for capital road project

Leduc County Council passes Borrowing Bylaw No. 06-25

Passed during the April 22, 2025, regular meeting of Leduc County Council, this bylaw authorizes Leduc County to borrow funds in the amount of $6,680,000 to finance the reconstruction of Glen Park Road between Range Road 263 and Highway 795, between Highway 778 and Highway 39, and between Range Road 251 to Highway 2.

To complete this project, Leduc County will borrow up to $6,680,000 for a period of up to 15 years from the Government of Alberta, through the issuance of a debenture and on the terms and conditions referred to in this bylaw, including the following:

The estimated lifetime of the project financed under this bylaw is equal to, or in excess, of 15 years.
The County’s outstanding debt, as at the date of borrowing is $39,424,046 and no part of the principal or interest is in arrears.
All required approvals for the project have been obtained and the project follows all acts and regulations of the Province of Alberta.
Leduc County shall levy and raise in each year municipal taxes sufficient to pay the indebtedness.