BYLAW NO. 01-2014

A BYLAW OF THE VILLAGE OF EDENWOLD IN THE PROVINCE OF SASKATCHEWAN, TO PROVIDE FOR INCURRING A DEBT

                                WHEREAS the Council of the Village of Edenwold deems it desirable and necessary to incur a debt as set out in Section 162 and 163 of The Municipalities Act, in the amount of seventy-six thousand, three hundred and sixty-two dollars and seventy cents ($76,362.70), for the purpose of purchasing a new piece of maintenance equipment (tractor and equipment);

and

                                WHEREAS the taxable assessment as shown by the last revised assessment roll thereof, being that for the year 2013 is the sum of ten million, two hundred and ninety two thousand, one hundred and thirty Dollars ($10,292,130); and

                                WHEREAS the amount of the existing long term debt of the Village of Edenwold is the sum of nil;

                                NOW, THEREFORE, Council of the Village of Edenwold, in the Province of Saskatchewan, enacts as follows:

1. THAT pursuant to Sections 162 and 163 of The Municipalities Act, the Village requires Saskatchewan Municipal Board approval to incur a debt in the amount seventy-six thousand, three hundred and sixty-two dollars and seventy cents ($76,362.70); and

1. The amount of said debt shall be payable in sixty (60) instalments of principal and interest combined, in the years 2014 to 2018 inclusive, with interest at a rate of 1.9% per annum, payable at least annually.

    

2.    The source or sources of money to be used to pay the principal and interest owing under this bylaw will be revenue derived from the annual tax levy.

                In any event, any other available source of revenue may be used.

     4.   Bylaw 04-2013 is hereby repealed.

     5.   THIS bylaw shall come into force and take effect on the date of approval being issued by the Saskatchewan Municipal Board, Local Government Committee.

________________________           _________________________

       Mayor                                                                              Administrator/Clerk

                                               Certified a true copy of

(SEAL)                                    Bylaw No. 01-2014 adopted

                                               by resolution of Council (3rd Reading)

                                                on the 10th day February of  

2014.

                                             _____________________

                                                     Administrator/Clerk