Title
Bylaw 2026-04 - Acheson Zone 6 Infrastructure Construction Borrowing - Amending Bylaw 2025-20 - Acheson Zone 6 Infrastructure Construction Borrowing
Proposed Motions
1. That Bylaw 2026-04 receive second reading.
2. That Bylaw 2026-04 receive third and final reading.
Body
Administration Recommendation
Administration supports the proposed motions.
Purpose
To comply with Sections 191, 251 and 258 of the Municipal Government Act that require Council to pass a bylaw to amend a bylaw to facilitate long-term borrowing of funds.
The Province of Alberta has requested that the Bylaw 2025-20 Section 6 be amended to read:
INTEREST, TERM AND REPAYMENT SOURCE
(1) The sources of money used to pay the principal and interest owing under the borrowing will be off-site levies, municipal taxes and/or restricted surplus funds, and Parkland County shall, as applicable, impose, collect and maintain such revenues, taxes and funds that are collectively sufficient to make payments of the principal and interest owing under the borrowing in each year.
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 2026.
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, 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 2026-04, if approved, will fulf...
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