Borrowing Bylaw No. 1229-2025
Section 251 – The Municipal Government Act
On June 23, 2025, City Council, in the Province of Alberta, gave First Reading to Borrowing Bylaw No. 1229-2025. A Bylaw, upon final passage and approval, authorizes borrowing to finance the construction of Fire Hall #3.
Fire Hall #3
The total estimated cost of the project amounts to $11,475,778. The net amount to borrow on the credit and security of the municipality at large by issue of debentures is up to the sum of $6,528,000. The debentures are to be payable to the Province of Alberta or an accredited financial institution in twenty-five (25) years in equal semi-annual installments of combined principal and interest. The semi-annual interest not to exceed the interest rate as fixed from time to time by the Province of Alberta or accredited financial institution, to a maximum of ten percent (10%) per annum.
The City Council hereby gives NOTICE that, unless a petition of the electors for a vote on Bylaw No. 1229-2025 is demanded, as provided for by the terms of Section 231 of the Municipal Government Act, Council may pass the Borrowing Bylaw. The deadline for filing a petition with the City Clerk is Wednesday, July 30 at 4:30 p.m. M.S.T.
Information regarding petition procedures can be obtained from the City Clerk’s Office. Inspection of Bylaw No. 1229-2025 can be done during normal office hours at the City Clerk’s Office, Leduc Civic Centre, #1 Alexandra Park, Leduc, Alberta.
Second and Third Reading of Bylaw No. 1229-2025 is scheduled to take place on the August 18, 2025, Council Meeting commencing at 5:30 p.m. at the Leduc Civic Centre.
DATED at the City of Leduc, in the Province of Alberta, this 30th day of June, 2025.
