SECTION 266 – THE MUNICIPAL GOVERNMENT ACT
Please be advised that this is a loan guarantee for repayment of capital – Eco Center facility – for the Chamber of Commerce.
The Town of Elk Point Council, in the Province of Alberta, has given first reading to loan guarantee Bylaw 847-21 which will, upon final passage and approval, authorize the proper officers of the said Town to guarantee the repayment of the loan to Servus Credit Union by way of a loan, to borrow one hundred and twelve thousand and three hundred and thirteen ($112,313.00) to meet current capital expenditures provided that the total principal amount owed to Servus Credit Union Ltd. at any one time hereunder shall not exceed the sum of one hundred and twelve thousand and three hundred and thirteen ($112,313.00).
All sums authorized to be loan guaranteed, including interest, shall be due and payable in full no later than June 2031.
NOW THEREFORE notice is hereby given by the Council of the Town of Elk Point that, unless a petition of the electors for a vote on Bylaw 847/21 be demanded, as provided for by the terms of Section 266 of the Municipal Government Act, the said Council may pass the said loan guarantee bylaw.
All persons interested are hereby notified and they are required to govern themselves accordingly.
Copies of the proposed Bylaw’s and related documents may be obtained from:
Town of Elk Point
PO Box 448
Elk Point, Alberta
DATED at the Town of Elk Point, in the Province of Alberta, this 28th day of June, 2021.
Information for Electors
Pursuant to Section 1(i) if the Municipal Government Act an “elector” means a person who is eligible to vote in the election for a councillor under the Local Authorities Election Act.
Pursuant to Section 47(1) of the Local Authorities Election Act a person is eligible to vote
in an election if he:
- is at least 18 years old
- is a Canadian citizen, and
- has resided in Alberta for the 6 consecutive months immediately preceding election day and is resident in the area on election day.
A poll may be demanded in the Town of Elk Point by electors equal in number to at least 10% of the population, in accordance with the provisions of Section 223 and Section 266 of the Municipal Government Act.
The petition for a vote must be received by the Chief Administrative Officer within 15 days of the last publication of this notice and shall contain on each page “an identical statement of the purpose of the petition”. (Further requirements of the petition are provided in Section 224 of the Municipal Government Act.)
DATE of the last publication of this notice is the 27th of July, 2021.