Public Notice - Borrowing Bylaw 1245/20 - Multiplex Expansion
PUBLIC NOTICE TO ELECTORS OF THE TOWN OF BLACKFALDS, PROVINCE OF ALBERTA
TAKE NOTICE that the Council of the Town of Blackfalds has given first reading to Bylaw No. 1245/20, which will, upon final passage and approval, authorize the proper officers of the Town of Blackfalds to incur indebtedness by the issuance of debenture(s) or bank loan in the amount of $18,709,000 (Eighteen million, seven hundred and nine thousand) for the purpose of expanding the Multiplex which includes a new Arena and Public Library.
The total cost of the aforesaid project amounts to $23,800,000 of which $18,709,000 is to be borrowed on the credit and security of the municipality at large by the issue of debentures of bank loan and on the terms and conditions outlined in Bylaw 1245/20
The indebtedness, either debenture or bank loan, is repayable either in monthly, semi-annual or annual payments of combined principal and interest installments not to exceed twenty-five (25) years calculated at a rate not exceeding the interest rate of six (6) percent.
NOW THEREFORE NOTICE is hereby given by the Council of the Town of Blackfalds that, unless a petition of the electors for a vote on Bylaw 1245/20 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. While we recognize that completion of a petition involves collection of original signatures, at this time there are no modifications to the legislative requirements for petitions. It would be up to the individuals who organize a petition to collect signatures in a manner that adheres to the physical distancing recommendations of the Chief Medical Officer of Health.
The petition can be sent via courier, mail, or at the municipal drop off box within the required timeline. If an elector plans on initiating a petition while we are subject to the public distancing recommendations, they are encouraged to contact the ministry to discuss any of the petition provisions.
A copy of the proposed bylaw and all public documents applicable to the proposed bylaw may be found on display at the entrance of the Town’s Civic Building and at the website www.blackfalds.com/bylaw.
DATED at the Town of Blackfalds, in the Province of Alberta, this 21st Day of April, 2020
Town of Blackfalds
Per: Myron Thompson
Chief Administrative Officer
For more information:
Justin de Bresser
Director of Corporate Services
Mayor Richard Poole