Notice to electors on borrowing bylaw

For the re-construction of Township Road 510 from Nisku Spine road to RR243

Section 258 – Municipal Government Act

First reading of Debenture Borrowing Bylaw 06-23 was passed at the March 14, 2023 Council meeting. However, administration will propose the addition of the following clause to the bylaw for second and third reading at the April 11, 2023 Council meeting. The amendment will identify the source of funding that will be used to repay the debenture:

1. Leduc County shall utilize offsite levies to pay the indebtedness however in the event of any deficiency Leduc County will raise, in each year, municipal taxes sufficient to pay the annual debenture payments.

Leduc County Council has given first reading to the borrowing Bylaw, which will, upon approval, authorize the County to borrow funds from the Government of Alberta as a debenture to pay for the re-construction of Township Road 510 from Nisku Spine Road to RR243.

To complete the project, Leduc County needs to borrow up to $9,000,000 for a period of up to 20 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 project being financed is estimated to serve residents for 20 years or more.
• Leduc County’s outstanding debt as of Dec. 31, 2021 was $40,598,205 and no part of the principal interest is in arrears.
• All required approvals for the project have been obtained and the project is in compliance with all acts and regulations in the province of Alberta.

A Leduc County elector wishing to file a petition regarding the proposed bylaw must do so in compliance with Part 7 of the Municipal Government Act, which includes, but is not limited to, the following:

• The petition must be filed with Leduc County’s county manager by April 8, 2023, which is within 15 days of the last newspaper advertisement.
• The petition must be signed by at least 1,441 Leduc County electors, which represents 10 per cent of the County’s total population.
• The petition must contain on each page an identical statement of the purpose of the petition, and meet all other requirements noted in Section 224 of the Municipal Government Act.

A copy of the proposed bylaw is available for review at Leduc County Centre from Monday to Friday between 8:30 a.m. and 4:30 p.m.
View the draft borrowing bylaw

View the notice of borrowing bylaw

Learn more about petitioning a bylaw

Questions regarding this notice or the proposed bylaw may be directed to:
Office of the County Manager
Phone: 780-955-6400
Leduc County Centre
Suite 101, 1101 5 St.
Nisku, AB T9E 2X3
Fax: 780-955-8866