Borrowing Public Hearing

PUBLIC NOTICE

PUBLIC NOTICE is hereby given pursuant to Subsection 174(1) of The Municipal Act that the Council of the Rural Municipality of St. Clements intends to present three (3) proposals to borrow at a Public Hearing in the Council Chambers of the R.M. of St. Clements on Tuesday April 3rd, 2018 at 7:00 p.m.

Regarding General Borrowing By-Law 6-2018

Being A By-Law of the Rural Municipality of St. Clements to Provide for the Expenditure and Borrowing of Funds to Establish a Municipal Recreation Facility in South St. Clements

The total cost of the project is estimated at $ 4,850,000 and will include grant funding awarded in the amount of

$ 250,000 and a contribution from the Gas Tax Reserve of $ 250,000. The net total cost of the proposed borrowing is $ 4,835,000 and is to be repaid over 20 years at a rate estimated for the time being at 4.125 % per annum and subject in any event to the authorization of The Municipal Board. The annual repayment amount is estimated at

$ 359,716.75 and will be levied annually as part of the general levy.

Regarding General Borrowing By-Law 7-2018

Being A By-Law of the Rural Municipality of St. Clements to Provide for the Expenditure and Borrowing of Funds to Upgrade & Expand the Facilities and Equipment of the Narol Fire Department

The total cost of the project is $ 1,573,000 and is to be fully funded by the proposed borrowing. The total cost of the proposed borrowing is $ 1,573,000 and is to be repaid over 20 years at a rate estimated for the time being at 4.125 % per annum and subject in any event to the authorization of The Municipal Board. The annual repayment amount is estimated at $ 117,028.84 and will be levied annually as part of the general levy.

Regarding General Borrowing By-Law 8-2018

Being A By-Law of the Rural Municipality of St. Clements to Provide for the Expenditure and Borrowing of Funds to Complete Construction & Improvement of Water Control Works

The total cost of the project is estimated at $ 3,520,000 and is to be fully funded by the proposed borrowing.  The total cost of the proposed borrowing is $ 3,520,000 and is to be repaid over 20 years at a rate estimated for the time being at 4.125 % per annum and subject in any event to the authorization of The Municipal Board. The annual repayment amount is estimated at $ 261,882.72 and will be levied annually as part of the general levy.

Council will hear any person who wishes to make a representation, ask questions, or register an objection to the borrowing by-laws as provided.

Any person who has questions, needs clarification or requires further information, either prior to or following the hearing, is encouraged to contact DJ Sigmundson, CAO at 482-3300.