Title
Bylaw 2026-28 - Acheson Zone 5 Highway 16A and Spruce Valley Road Wastewater Infrastructure Borrowing Bylaw
Proposed Motions
1. That Bylaw 2026-28 receive second reading.
2. That Bylaw 2026-28 receive third and final reading.
Body
Administration Recommendation
Administration supports the proposed motions.
Purpose
To comply with Sections 251 and 258 of the Municipal Government Act that requires Council to pass a bylaw to facilitate long-term borrowing of funds.
Summary
The project includes construction of wastewater infrastructure that will facilitate future development in Acheson Zone 5. The infrastructure is proposed to be constructed along Spruce Valley Road south of Hwy 16A, within Acheson Zone 5.
The cost of the infrastructure is not to exceed $4,000,000 and will be accommodated by debt borrowing. The anticipated interest rate is to be determined but is not to exceed 10 percent over a term not to exceed 30-years as outlined in Bylaw 2026-28.
The repayment of the indebtedness for infrastructure, plus any interest expenses, is to be funded by off-site levies, municipal taxes and/or restricted surplus funds.
Administration will use an authorized financial institution or the Province of Alberta to facilitate the debt needs.
Bylaw 2026-28, if approved, will fulfill the terms and conditions represented within the Municipal Government Act for long-term borrowing.
Bylaw 2026-28 received first reading on July 14, 2026. As per the requirement of Section 606 of the Municipal Government Act, advertising of Bylaw 2026-28 was completed pursuant to Parkland County's Advertising Bylaw 2024-21. No valid petitions or public input were received at the time this report was written
Strategic Plan/Policy/Legal/Staff Implications
Bylaw 2026-28 meets the eligibility requirements of the Municipal Government Act - Section 258.
Financial Impact:
Cost: $4,000,000
Source of Funds: Debt