A Bylaw of the Municipal District of Greenview No. 16, in the Province of Alberta, to incur indebtedness by the issuance of a debenture in the amount of $7,010,078 for the purpose of financing the Grovedale Floating Liner (CWW19001).
WHEREAS, the Council of the Municipal District of Greenview No.16 in the province of Alberta has decided to issue a borrowing bylaw pursuant to sections 251 and 258 of the Municipal Government Act, RSA, 2000, c.M-26 to authorize financing for the Grovedale Floating Liner (CWW19001)
WHEREAS, plans and specifications have been prepared, and the total cost of the project is estimated to be $17,782,212. The project is to be financed as follows:
Debenture $ 7,010,078
Grant Funding $ 3,206,076
Reserve Funding $ 7,566,058
WHEREAS, in order to complete the project, the Council of the Corporation has decided to issue a borrowing bylaw pursuant to Section 251 of the Municipal Government Act, R.S.A. 2000, Chapter M-26, which allows a municipality to make a borrowing if the borrowing is authorized by a borrowing bylaw.
WHEREAS, the principal amount of the Corporation’s outstanding debt on December 31, 2024, was $1,058,372, and no part of the principal or interest is in arrears.
Greenview electors may petition Bylaw 26-1010 “Grovedale Floating Liner Borrowing Bylaw”, by filing a petition on or before February 12, 2026.
If a successful petition is received, Greenview Council must not proceed with the bylaw or submit to a vote of electors. The decision of a vote of electors is binding on Greenview Council.