PUBLIC NOTICE TO ELECTORS OF THE
CITY OF GRANDE PRAIRIE, PROVINCE OF ALBERTA
BY-LAW NO. C-1430A
SECTION 251 - THE MUNICIPAL GOVERNMENT ACT
TAKE NOTICE that the Council of the City of Grande Prairie, in the Province of Alberta, has given first reading to borrowing By-law No. C-1430A which will, upon final passage and approval, authorize the proper officers of the said City to execute and deliver to the lender on behalf of the City of Grande Prairie such documents, instruments and agreements, including credit agreements and commitment letters as may be required by the lender for the City to avail and evidence the City’s loans and credit in the amount and for purpose as authorized by this bylaw and any such document, instrument or agreement shall be conclusively deemed to be authorized by this bylaw and binding on the City, to pay for the undertaking and completing of the Construction of the Downtown Rehabilitation, Phase 4.
The total budget of the aforesaid project is $14,000,000. The maximum amount to be borrowed on the credit and security of the municipality at large. For expenditures during the construction period, the sum may be borrowed by way of non-revolving credit, drawn as frequently as permitted by the lender in accordance with the lender’s requirements for such draws, on the credit and security of the City of Grande Prairie at large. Monthly interest only payments will be made, and interest shall not exceed the authorized institution’s prime borrowing rate (currently 2.45%). Upon completion of the construction period, the City of Grande Prairie shall repay the indebtedness according to the repayment structure in effect, namely quarterly, semi-annual or annual equal payments of combined principal and interest installments not to exceed Thirty (30) years calculated at a rate not exceeding the interest rate fixed by the Alberta Capital Finance Authority or another authorized financial institution on the date of the borrowing, and not to exceed Six (6) percent.
NOW THEREFORE NOTICE is hereby given by the Council of the City of Grande Prairie that, unless a petition of the electors for a vote on By-law No. C-1430A is demanded, as provided for by the terms of Section 231 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 bylaws and related documents may be obtained from:
The Office of the City Clerk, City of Grande Prairie
3rd Floor, City Hall, 10205 – 98 Street,
Grande Prairie, Alberta, T8V 6V3
Phone: (780) 538-0300
DATED at the City of Grande Prairie, in the Province of Alberta, this 12th day of May, 2021.
INFORMATION FOR ELECTORS
Pursuant to Section 1(i) of 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:
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 City of Grande Prairie by electors equal in number to at least
a) in the case of a municipality other than a 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 accurate and 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 11th day of June, 2021.