HomeMy WebLinkAbout1367-01 Rolling Hills Water Treatment PlantCounty of Newell No. 4
By-law No.1367-01
A By-law of the County of Newell No. 4, in the Province of Alberta, to authorize the Council
of the County of Newell to incur an indebtedness by the issuance of debentures (the
"debentures") to the Alberta Municipal Financing Corporation for the purpose of
construction of a water treatment plant in the Hamlet of Rolling Hills.
Whereas the Council of the County of Newell has decided to issue a By-law pursuant to
Section 251 of the Municipal Government Act to authorize the financing of the water
treatment plant in the Hamlet of Rolling Hills.
Brisbin Sentis Engineering Inc. has made plans, specifications and estimates for the
project and confirms the total cost of the said project is four hundred ninety-nine thousand
five hundred two dollars and eight cents ($499,502.08).
The Council of the County of Newell has estimated the following grants and contributions
will be received and applied to the project:
1. Alberta Municipal WaterlWastewater Partnership ($357,467.85)
three hundred fifty-seven thousand four hundred sixty-seven dollars
and eighty-five cents
,_. 2. Interest on Grant Proceeds ($ 6,250.00)
six thousand two hundred fifty dollars and zero cents
In order to construct and complete the said project, it will be necessary for the County to
borrow the sum of one hundred thirty-five thousand seven hundred eighty-four dollars and
twenty-three cents ($135,784.23) (the "indebtedness") on the terms and conditions
referred to in this By-law.
The County will repay the indebtedness over a period of ten (10) years in annual
instalments, with interest not exceeding twelve percent (12%), or the interest rate fixed
from time to time by the Alberta Municipal Financing Corporation, per annum, payable
annually.
The amount of the existing debenture debt of the County at October 24, 2001 is one
million two hundred twenty-five thousand three hundred seventy-eight dollars and ninety-
three cents ($1,225,378.93), no part of which is in arrears.
The estimated lifetime of the project is twenty-five (25) years.
The proposed construction will serve about three hundred twenty-eight (328) people.
All required approvals for the project have been obtained and the project is in compliance
with all acts and regulations of the Province of Alberta.
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The Council of the County of Newell has given proper notice of intention to undertake and
complete the construction of a water treatment plant in the Hamlet of Rolling Hills, the
costs or a portion of the costs thereof to be assessed against benefiting owners in
accordance with the attached Schedule "A", and no sufficiently signed and valid petition
against the said proposal has been received by Council.
Therefore, the Council of the County of Newell duly assembled enacts as follows:
That, for the purpose of the construction of a water treatment plant in the Hamlet of
Rolling Hills, the sum of one hundred thirty-five thousand seven hundred eighty-four
dollars and twenty-three cents ($135,784.23) be borrowed from AMFC by the way
of debenture on the credit and security of the County at large and is to be collected
byway of special assessment as herein provided in attached Schedule "A".
2. The debentures to be issued under this By-law shall not exceed the sum of one
hundred thirty-five thousand seven hundred eighty-four dollars and twenty-three
cents ($135,784.23), and may be in any denomination not exceeding the amount
authorized by this By-law and shall be dated having regard to the date of the
borrowing.
3. The debentures shall bear interest during the currency of the debentures, at a rate
,,._ not exceeding twelve percent (12°/a), or the interest rate fixed from time to time by the
Alberta Municipal Financing Corporation, per annum, payable annually.
4. The debentures shall be issued in such manner that the principal and interest will be
combined and be made payable in, as nearly as possible, equal annual instalments
over a period of ten (10) years, in accordance with the schedule attached and
forming a part of each debenture.
5. The debentures shall be payable in lawful money of Canada at the Provincial
Treasury Branch in the Town of Brooks or at such other bank or financial institution
as the Council of the County of Newell may authorize as its banking agency during
the currency of the debenture.
6. The Reeve and County Administrator of the County shall authorize such bank or
financial institution to make payments to the holder of the debentures, on such date
and in such amounts as specified in the repayment schedule forming part of each
debenture.
7. The debentures shall be signed by the Reeve and the County Administrator of the
County and the County Administrator shall affix the corporate seal of the County to
the Debentures.
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8. There shall be levied and raised in each year of the currency of the debentures a rate
on all the rateable property in the County, collectible at the same time and in the
same manner as other rates, in an amount sufficient to pay the principal and interest
falling due in such year on such debentures and in addition thereto the amount
required to pay any of such debentures which fall due in each year after applying the
special assessment hereafter provided for.
9. During the currency of the debentures, there shall be raised annually for payment of
the owners' portion of the cost and interest thereon, by special assessment, the
respective sums shown as yearly payments on Schedule "A" hereto attached, and
there is hereby imposed on all lands benefiting from the improvements a special
assessment sufficient to cover the owners' portion of the cost of the said work and
the interest thereon payable at the unit rate or rates set forth in said Schedule "A".
The said special assessment shall be in addition to all other rates and taxes.
10. The indebtedness is contracted on the credit and security of the County at large.
11. The net amount realized by the issue and sale of debentures authorized under this
By-law shall be applied only for the purposes for which the indebtedness was
created.
12. This By-law shall take effect on the day of the final passing thereof.
November 8, 2001 Moved by Councillor Musgrove that By-law 1367-01 receive first reading. Carried.
November 8, 2001 Moved by Councillor Harbinson that By-law 1367-01 receive second reading. Carried.
November 8, 2001 Moved by Councillor Vermeeren that consent of Council be given for third and final
reading of By-law 1367-01. Carried Unanimously.
November 8, 2001 Moved by Councillor Fabian that By-law 1367-01 receive third reading. Carried.
REEVE
CtiC G..-,
COUNTY ADMII~IISTRATOR
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Special Lot Assessment
County of Newell No. 4
Schedule "A" to By-Law No. 1367-01
Local Improvement -Special Lot Assessment
for Construction of a Water Treatment Plant in the Hamlet of Rolling Hills
Properties to be assessed:
On Registered
Plan Number Block Lots No. of Lots
8210258 1 1 - 16 15
8210258 2 1 - 24 24
8210258 3 1 - 14 13
8210258 4 1 - 30 24
5280 F.K. 6 1 - 16 18
2123 F.B. 3 1 - 14 15
7410502 2 1 - 16 16
2123 F.B. 1 1 - 16 16
2123 F.B. 1 A 2
2123 F.B. 1 B 1
2123 F.B. X - 2
2123 F.B. 2 S 1
2123 F.B. 2 T 2
4945 F.W. 7 1 - 9 9
152 F.K. 5 A, B, C 4
152 F.K. 4 - 1
1160 H.C. Parcel A 1
Pt. SE 6-15-13-4 (School 12.3 acres) 7
Pt. NW 31-14-13-4 (Tirol Gas Co-op 0.51 acres) 1
8211670 17, 18 2
9110029 9 1
0012153 3 15,16 2
0111162 8 1 - 7 7
9010896 1 Arena 1
9611596 17 - 19 4
9810490 1 17, 18 2
9910314 6 17, 18 2
9912447 4 33, 34 2
9913415 4 31, 32 2
Total lots 197
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" 3. Total assessment against all properties $135,784.23
4. Total assessment per lot $689.26
5. Annual unit rate per lot to be payable
for a period of 10 years at 6.25 percent per annum $ 94.76
6. Total yearly assessment against all properties $18,667.86