• PUBLIC HEARING NOTICE CITY OF ...

PUBLIC HEARING NOTICE CITY OF MORDEN 2018 FINANCIAL PLAN and BORROWING BY-LAWS 28-2017 and 29-2017 Pursuant to Section 162(2) of The Municipal Act, the Council of the City of Morden invite all ratepayers of the City of Morden to a Public Hearing in respect to the 2018 Financial Plan (Budget) for the City of Morden. The purpose of the Public Hearing is to allow any interested persons to make a representation, ask questions or register an objection to the Financial Plan. A presentation of the Financial Plan will be made at the Morden Civic Centre on Monday, December 18, 2017 at 7:00 P.M. Copies of the Financial Plan will be available on December 14, 2017. In accordance with section 174.1(2) of the Municipal Act notice is hereby given that following the financial plan hearing on Monday 18th December 2017 two Debenture By-Laws in support of the Financial Plan will be given 1st reading. By-Law 28-2017 BEING a By-law to provide for the expenditure and borrowing of funds for the development of sports fields. With an estimated cost of $600,000 to complete the work with all funds being $600,000 being borrowed and no other funds of any kind to be applied to this project. It is estimated that the Term of the Borrowing will be for 10 years at a current 10-year rate of 3.625% per annum. The annual taxation revenue to be raised to furnish the principle and interest at the abovementioned interest rate is $71,620.20. By-Law 29-2017 BEING a By-law to provide for the expenditure and borrowing of funds for the redevelopment of the Civic Centre. With an estimated cost of $500,000 to complete the work with all funds being $500,000 being borrowed and no other funds of any kind to be applied to this project. It is estimated that the Term of the Borrowing will be for 10 years at a current 10-year rate of 3.625% per annum. The annual taxation revenue to be raised to furnish the principle and interest at the abovementioned interest rate is $59,683.44. Financial Plan Hearing and Borrowing By-Laws first readings will take place at Morden City Council Civic Centre, 100-195 Stephen St, Morden, Manitoba.
This ad has been viewed 4 times
PostedDecember 08, 2017