Title
Bylaw 2026-08 - Infrastructure Borrowing - Entwistle Water Loop West Highway 16 Interchange
Proposed Motions
1. That Bylaw 2026-08 receive second reading.
2. That Bylaw 2026-08 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 will establish a second waterline crossing beneath Highway 16 and CN Rail line, connecting the existing water reservoir to residential and commercial areas in Entwistle.
Design was initiated in 2024 and continued into 2025 with construction scheduled for 2026.
The cost of the infrastructure is not to exceed $1,985,000 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 2026-08.
The repayment of the indebtedness for infrastructure, plus any interest expenses, is to be funded by utility rate revenue, municipal taxes and or restricted surplus funds.
Administration will use an authorized financial institution or Province of Alberta, to facilitate the debt borrowing needs.
Bylaw 2026-08 received first reading on February 24, 2026. As per the requirement of Section 606 of the Municipal Government Act, advertising of Bylaw 2026-08 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.
Historical Information
Strategic Plan/Policy/Legal/Staff Implications
Municipal Government Act - Section 258
Financial Impact:
Cost: $1,875,000
Source of Funding: Debt