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| October 31, 2001 vol. 27 No. 13 |
$1.00 INCL GST |
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In this issue... |
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Opinion ![]() First landing at new helipad See News |
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In order to upgrade the town's Wastewater Treatment Plant (WWTP), the Town of Okotoks is considering borrowing $925,000 of the $3.7 million needed for the upgrade.
During its regular meeting held Oct. 22, Okotoks council gave first reading to a borrowing bylaw in order to secure funding for a combination of five projects.
The project includes $2.9 million for an integrated sludge management and composting system; $285,000 for new ventilation systems; $160,000 for a new system to discharge treated effluent to the Sheep River; $265,000 for an expanded pumping capacity (new auger headworks) and $80,000 for an upgrade to the electrical system. The project will bring the plant in line with regulation requirements for the facility.
The upgrades will bring the WWTP up-to-date to handle a population of 14,500 for the next three years. To reach the target population of 25,000 to 30,000, further upgrades in the future have been planned with much less significant costs.
The upgrade will extend the life cycle of the major parts of the plant while improving the quality of effluent discharged into the Sheep River and improve the outfall component of the plant.
In order to secure funds for the upgrades, a borrowing bylaw is needed to secure $925,000.
Council has received grant funding from the Federation of Canadian Municipalities in the order of $150,000 under the Green Municipal Investment Fund with the condition that the town agree to borrow $425,000 over five years.
The borrowing bylaw was also presented with a 10-year debenture term for $500,000 to the Alberta Municipal Financing Corporation (AMFC).
The remainder of the funds will come from the Alberta Water/Wastewater Partnership program of $1.2 million and contributions from the sanitary sewer acreage assessments, $1.3 million.
If approved, the town will have 37 per cent debt compared to the maximum 75 per cent set out in council's policy.
Municipal treasurer Grant Roeland explained that once the project is completed the town will see significant cost savings which will be used to pay for debentures.
'We feel the savings from the program will allow us to pay the debentures off,' said Roeland.
With a borrowing bylaw, local residents may submit a valid petition to council calling for a vote of the electors to determine whether the proposed bylaw should be passed. Valid petitions received, within 15 days from the last publication date in the local newspaper of the long-term borrowing bylaw, will be presented to council.
Council may either abandon the bylaw or submit the bylaw to a vote by the electors.
If no valid petition is received within 15 days, council may consider second and third reading of the bylaw at the next regular meeting.
An open house highlighting the project is proposed following the bylaw's advertising date.
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Published Wednesdays at Okotoks, Alberta, Canada. Serving the communities of Okotoks, Aldersyde, Black Diamond, DeWinton, Longview, Millarville, Priddis, Turner Valley, Bragg Creek, and the rural ratepayers of the M.D. of Foothills. And now the World. Established August 3, 1976. |