Elk Point: Public Notice Borrowing Bylaw

Public Notice to Electors of the Town of Elk Point

BYLAW 765/17 SECTION 264 (1) and 266(1) – THE MUNICIPAL GOVERNMENT ACT
Please be advised that this is a loan and line of credit for operating (Loan Guarantee) for the Regional Allied Arts Society 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 765/17 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 of Seventy Five Thousand ($75,000.00) and a loan of Two Hundred and Twenty Thousand ($220,000.00) to meet Loan Guarantee – Regional Allied Arts Society provided that the total principal amount owed to Servus Credit Union Ltd. at any one time hereunder shall not exceed the sum of Two Hundred and Twenty Thousand ($220,000.00) with a Line of Credit of Seventy Five Thousand ($75,000.00).

Only fifty percent (50%) of the money borrowed hereunder will become the responsibility of the Town of Elk Point and shall come from taxes collected for the current fiscal year and will be repaid to Servus Credit Union upon requisition from Town of Elk Point Regional Allied Arts Society.

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 765/17 demanded, as provided for by the terms of Section 264 (1) and 266(1) of the Municipal Government Act, the said Council may pass the said borrowing By-Law.

All persons interested are notified of Bylaw 765/17.
Copies of the proposed Bylaw and related documents may be obtained from:

Town of Elk Point

Box 448 Elk Point, AB T0A 1A0

780-724-3810

DATED at the Town of Elk Point, in the Province of Alberta, this 18th day of August, 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 5th day of September, 2017.