HomeMy WebLinkAbout1722-11 Amendment to Bylaws 1693-10 & 1709-10 (NRSC Loan)COUNTY OF NEWELL NO. 4
IN THE PROVINCE OF ALBERTA
BYLAW NO. 1722 -11
BEING a bylaw of the County of Newell No. 4 in the Province of Alberta, to amend Bylaws
1693 -10 and 1709 -10.
WHEREAS Bylaws 1693 -10 and 1709 -10 are bylaws providing loans to the Newell Regional
Services Corporation (NRSC)
AND WHEREAS the Board of Directors of the NRSC has requested an extension to the loan
repayment period,
NOW THEREFORE, under the authority and subject to the provisions of the Municipal
Government Act, Statutes of Alberta, Chapter M -26, 2000, as amended, the Council of the
County of Newell No. 4 in the Province of Alberta duly assembled does hereby enact the
following:
Bylaws 1693 -10 and 1709 -10, being bylaws providing loans to the Newell Regional
Services Corporation, be amended by replacing article 3 in each bylaw with the
following:
"The Corporation agrees to repay the loan such that the loan is fully repaid no
later than December 31, 2017."
2. Bylaws 1693 -10 and 1709 -10, being bylaws providing loans to the Newell Regional
Services Corporation, be amended by replacing article 4 in each bylaw with the
following:
"Although the loan is not to be repaid in full until December 31, 2017, NRSC will
make reasonable efforts, taking into account its financial situation, to make
annual payments."
3. Bylaws 1693 -10 and 1709 -10 are hereby amended.
4. This bylaw shall come into effect upon third and final reading hereof.
READ a first time this 24 day of March, 2011.
READ a second time this 8 day of September, 2011.
READ a third time and finally PASSED this 8 day of September, 2011.
Reeve Molly Douglass
Chi, f d istrative Officer Kevin Stephenson