SECTION 256 (1) and 258(1) – THE MUNICIPAL GOVERNMENT ACT
Please be advised that this is a line of credit for operating (Loan Guarantee ) Chamber of Commerce and a Bylaw must be adopted annually.
The Town of Elk Point Council, in the Province of Alberta, has given first reading to borrowing By-Law 762/17 which will, upon final passage and approval, authorize the proper officers of the said Town to borrow monies from the Servus Credit Union by way of Line of Credit, to borrow One Hundred and Thirty Five Thousand Dollars ($135,000.00) to meet Loan Guarantee – Chamber of Commerce for Eco Centre 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 thirty five thousand dollars ($135,000.00).
All sums authorized to be borrowed hereunder, including interest, shall be due and payable in full no later than December 31st of the financial year borrowed, unless hereafter extended by authority of the Council of the Corporation.
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 By-Law 762/17 demanded, as provided for by the terms of Section 256 (1) and 258(1) of the Municipal Government Act, the said Council may pass the said borrowing By-Law.
All persons interested are hereby notified and they are required to govern themselves accordingly.
Copies of the proposed Bylaw and related documents may be obtained from:
Town of Elk Point
Box 448 Elk Point, AB T0A 1A0
DATED at the Town of Elk Point, in the Province of Alberta, this 5th day of July, 2017.
Information for Electors
Pursuant to Section 1(i) if the Municipal Government Act an “elector” means
1. 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:
(a) is at least 18 years old
(b) is a Canadian citizen, and
(c) 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 a) in case of a municipality other than summer village, by electors of the municipality equal in number to at least 10% of the population,
in accordance with the provisions of Section 223 and Section 251 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 18th day of July, 2017.