Title
Bylaw No. 12-2012 to amend Parkland Industrial Estates Schedule 'A' of Bylaw No. 42-00
Proposed Motion
That Bylaw No. 12-2012 receive all three readings.
Body
Administration Recommendation
Administration supports the proposed motion. All three motions are recommended at this time so tax notices can be mailed before the end of May.
Purpose
Bylaw No. 42-00 was passed by Parkland County of December 12, 2000 authorizing the imposition of a local improvement tax on benefitting parcels in Parkland Industrial Estates for the purpose of construction of sewer and water main extensions to Parkland Industrial Estates. As a result of subdivision or consolidation of the original lands identified in Schedule A the proportionate rates need to be adjusted. This Bylaw amends Bylaw No. 42-00 by revising Schedule A to reflect the changes.
Summary
The impact of the debenture payments applicable to the sewer and water main extenstions is $18,072.40 for 2012. The balance remaining on this debenture as of December 31, 2011 is $131,453.00 and the final debenture payment will be paid on February 15, 2021.
Strategic Plan/Policy/Legal/Staff Implications (As required)
Part 10 Division 5 of the MGA
Financial Impact:
Cost: $18,072.40
Source of Funding: Local Improvement Tax