Title
Bylaw 2025-20 - Infrastructure Borrowing - Acheson Zone 6 Infrastructure Construction
Proposed Motions
1. That Bylaw 2025-20 receive second reading.
2. That Bylaw 2025-20 receive third and final reading.
Body
Administration Recommendation
Administration supports the proposed motions.
Purpose
In accordance with Sections 251 and 258 of the Municipal Government Act, Council is required to pass a Bylaw to facilitate long-term borrowing of funds.
Summary
The project includes construction of water and wastewater infrastructure that will facilitate future development in Acheson Zone 6. The infrastructure is proposed to be constructed along Pinchbeck Road south of Hwy 16A, as well as west of Pinchbeck Road, within Acheson Zone 6.
Design was initiated in 2024 and continued into 2025 with construction scheduled for 2025.
The cost of the infrastructure is not to exceed $4,500,000 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 2025-20.
The repayment of the indebtedness for infrastructure, plus any interest expenses, is to be funded by off-site levies and or restricted surplus funds as an interim financing measure.
Administration will use an authorized financial institution or Province of Alberta, to facilitate the debt borrowing needs.
Bylaw 2025-20 received first reading on June 17, 2025. As per the requirement of Section 606 of the Municipal Government Act, advertising of Bylaw 2025-20 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
Municipal Government Act - Section 258
Financial Impact:
Cost: $4,500,000
Source of Funding: Debt