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:
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:
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
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