Bylaw 142791 of 8

CITY OF EDMONTON

BYLAW 14279

A Bylaw to authorize the City of Edmonton

to construct, finance, and assess Water Main

and Water Service, Sanitary Sewer Lateral

and Sanitary Service, and Storm Sewer

Lateral and Storm Service Construction

Local Improvements in the Baranow area

WHEREAS:

The Council of the City of Edmonton has decided to issue a bylaw pursuant to Sections 251, and 263 of the Municipal Government Act, R.S.A. 2000, c. M-26 to authorize the City of Edmonton to construct, finance, and assess Water Main and Water Service, Sanitary Sewer Lateral and Sanitary Service, and Storm Sewer Lateral and Storm Service Construction Local Improvements in the Baranow area;

The Council has also decided to set uniform tax rates based on the estimated cost of the local improvement pursuant to Section 398(1)(c) of the Municipal Government Act, R.S.A. 2000, c. M-26;

The Council also intends to amend this Bylaw to reflect the actual cost of the construction of this local improvement upon completion;

The Municipal Government Act, R.S.A. 2000, c. M-26, provides as follows:Section 399 The undertaking of a local improvement may be started, the local improvement tax bylaw may be passed and debentures may be issued before or after the actual cost of the local improvement has been determined.

In order to construct and complete the said project, it will be necessary for the City of Edmonton to borrow the sum of $7,500,000.00 on the terms and conditions referred to in this Bylaw;

The City of Edmonton will repay the indebtedness over a period of twenty-five (25) years in semi-annual or annual instalments, with interest not exceeding nine per cent (9%), per annum;

The amount of the existing debenture debt of the City of Edmonton at December 31, 2005 is $855,000,175.51, no part of which is in arrears;

The probable lifetime of the projects is a minimum of twenty-five (25) years;

The proposed construction will serve about 15.584 hectares;

All required approvals for the projects have been obtained and the projects are in compliance with all Acts and Regulations of the Province of Alberta;

The Council of the City of Edmonton has given proper notice of intention to undertake Water Main and Water Service, Sanitary Sewer Lateral and Sanitary Service, and Storm Sewer Lateral and Storm Service Construction Local Improvements in the Baranow area, the costs thereof to be assessed against the benefiting owner in accordance with the attached Schedules "A" through "C", and no sufficiently signed and valid petition against the said proposal has been received by Council.

THEREFORE, THE COUNCIL OF THE CITY OF EDMONTON DULY ASSEMBLED ENACTS AS FOLLOWS:

1.That a unit tax rate of $5,982.15 per hectare per annum for 25 years be set for Water Main and Water Service Construction in the Baranow area as described in Schedule "A" based on the estimated cost.

2.That a unit tax rate of $17,460.54 per hectare per annum for 25 years be set for Sanitary Sewer Lateral and Sanitary Service Construction in the Baranow area as described in Schedule "B" based on the estimated cost.

3.That a unit tax rate of $15,127.36 per hectare per annum for 25 years be set for Storm Sewer Lateral and Storm Service Construction Local Improvements in the Baranow area as described in Schedule "C" based on the estimated cost.

4.That the foregoing unit tax rate was calculated based on a five and one-half percent (5 1/2%) interest charge per annum for a twenty-five (25) year assessment.

5.That for the purpose of Water Main and Water Service, Sanitary Sewer Lateral and Sanitary Service, and Storm Sewer Lateral and Storm Service Construction Local Improvements in the Baranow area, the sum of $7,500,000.00 be borrowed by way of debenture on the credit and security of the City of Edmonton at large, of which amount the sum of $7,500,000.00 is to be collected by way of local improvement assessment as provided in Schedules "A" through "C".

6.The debentures to be issued under this bylaw shall not exceed the sum of $7,500,000.00 and may be in any denomination not exceeding the amount authorized by this bylaw and shall be dated having regard to the date of the borrowing.

7.The debentures shall bear interest during the currency of the debentures, at a rate not exceeding nine per cent (9%), per annum, payable semi-annually or annually.

8.The debentures shall be issued for a period of twenty-five (25) years and the City of Edmonton will repay the principal and interest in semi-annual or annual instalments.

9.The debentures shall be payable in lawful money of Canada at the principal office of the Toronto-Dominion Bank either in the City of Edmonton, in the Province of Alberta, or at its principal office in the City of Toronto, in the Province of Ontario.

10.For the purpose of this bylaw, the Chief Elected Official (as defined by the Municipal Government Act) means the Mayor, and the Chief Administrative Officer (as defined by the Municipal Government Act) means the City Manager, of the City of Edmonton. The Mayor and the City Manager shall authorize such bank or financial institution to make payments to the holder of the debentures, on such date and in such amounts as specified in the repayment schedule forming part of each debenture.

11.The debentures shall be signed by the Mayor and the City Manager of the City of Edmonton and the City Manager shall affix thereto the corporate seal of the City of Edmonton.

12.There shall be levied and raised in each year of the currency of the debentures a rate on all the rateable property in the City of Edmonton, collectible at the same time and in the same manner as other rates, in an amount sufficient to pay the principal and interest falling due in such year on such debentures and in addition thereto the amount required to pay any of such debentures which fall due in each year after applying the local improvement assessment hereafter provided for.

13.The indebtedness is contracted on the credit and security of the City of Edmonton at large.

14.During the currency of the debentures, there shall be raised annually for payment of the owners' portion of the cost and interest thereon, by local improvement assessment, the respective sums shown as yearly payments on Schedules "A" through "C", and there is hereby imposed on all lands fronting or abutting on that portion of the streets or places whereon the improvements are to be laid, a local improvement assessment sufficient to cover the owners’ portion of the cost of the said work and the interest thereon payable at the unit rate or rates set forth in said Schedules "A" through "C". The local improvement assessment shall be in addition to all other rates and taxes.

15.The net amount realized by the issue and sale of debentures authorized under this bylaw shall be applied only for the purposes for which the indebtedness was created.

16.This bylaw shall take effect on the day of the final passing thereof.

READ a first time this 9th day of May, A.D. 2006;

READ a second time this 23rd day of May, A.D. 2006;

READ a third time this 23rd day of May, A.D. 2006;

SIGNED and PASSED this 23rd day of May, A.D. 2006.

the city of edmonton

mayor

city clerk

Bylaw 142791 of 8

Schedule “A”

PROPOSED WATER MAIN AND WATER SERVICE

CONSTRUCTION LOCAL IMPROVEMENTS

$80,244.43 CASH RATE PER HECTARE
UNIT RATE OF $5,982.15 PER HECTARE PER YEAR FOR 25 YEARS
LEGAL DESCRIPTION OF PARCEL / ANNUAL / PROPERTY
LOT / BLOCK / PLAN / (HECTARES) / PAYMENT / SHARE
7 / 39 / 8422077 / 0.439 / $ 2,626.16 / $ 35,227.30
8 / 39 / 8422077 / 0.737 / 4,408.84 / 59,140.15
9 / 39 / 8422077 / 0.743 / 4,444.74 / 59,621.61
10 / 39 / 8422077 / 0.748 / 4,474.65 / 60,022.83
11 / 39 / 8422077 / 0.421 / 2,518.49 / 33,782.91
12 / 39 / 8422077 / 0.569 / 3,403.84 / 45,659.08
13 / 39 / 8422077 / 0.426 / 2,548.40 / 34,184.13
14 / 39 / 8422077 / 0.518 / 3,098.75 / 41,566.61
15 / 39 / 8422077 / 0.614 / 3,673.04 / 49,270.08
16 / 39 / 8422077 / 0.613 / 3,667.06 / 49,189.84
8 / 64 / 8422077 / 0.591 / 3,535.45 / 47,424.46
9 / 64 / 8422077 / 0.519 / 3,104.74 / 41,646.86
11 / 64 / 8422077 / 0.699 / 4,181.52 / 56,090.86
7 / 62 / 8422077 / 0.510 / 3,050.90 / 40,924.66
8 / 62 / 8422077 / 0.807 / 4,827.60 / 64,757.26
1 / 64 / 8422077 / 0.404 / 2,416.79 / 32,418.75
2 / 64 / 8422077 / 0.405 / 2,422.77 / 32,498.99
3 / 64 / 8422077 / 0.405 / 2,422.77 / 32,498.99
4 / 64 / 8422077 / 0.404 / 2,416.79 / 32,418.75
5 / 64 / 8422077 / 0.806 / 4,821.61 / 64,677.01
6 / 64 / 8422077 / 0.618 / 3,696.97 / 49,591.06
7 / 64 / 8422077 / 0.441 / 2,638.13 / 35,387.79
Total / 12.437 / $ 74,400.01 / $ 997,999.98
Interest Rate: 5.50%
125 STREET NW, 145 AVENUE TO NORTH OF 148 AVENUE NW
145 AVENUE NW, 125 STREET TO 127 STREET NW
148 AVENUE NW, FROM 125 STREET TO 127 STREET NW
Note: The above amounts will be revised upon completion of construction to reflect the
actual cost of construction.

Schedule “B”

PROPOSED SANITARY SEWER LATERAL AND SANITARY SERVICE

CONSTRUCTION LOCAL IMPROVEMENTS

$234,214.58 CASH RATE PER HECTARE
UNIT RATE OF $17,460.54 PER HECTARE PER YEAR FOR 25 YEARS
LEGAL DESCRIPTION OF PARCEL / ANNUAL / PROPERTY
LOT / BLOCK / PLAN / (HECTARES) / PAYMENT / SHARE
7 / 39 / 8422077 / 0.439 / $ 7,665.18 / $ 102,820.20
8 / 39 / 8422077 / 0.737 / 12,868.42 / 172,616.15
9 / 39 / 8422077 / 0.743 / 12,973.18 / 174,021.44
10 / 39 / 8422077 / 0.748 / 13,060.48 / 175,192.51
11 / 39 / 8422077 / 0.421 / 7,350.89 / 98,604.34
12 / 39 / 8422077 / 0.569 / 9,935.05 / 133,268.10
13 / 39 / 8422077 / 0.426 / 7,438.19 / 99,775.41
14 / 39 / 8422077 / 0.518 / 9,044.56 / 121,323.15
15 / 39 / 8422077 / 0.614 / 10,720.77 / 143,807.75
16 / 39 / 8422077 / 0.613 / 10,703.31 / 143,573.54
8 / 64 / 8422077 / 0.591 / 10,319.18 / 138,420.82
9 / 64 / 8422077 / 0.519 / 9,062.02 / 121,557.37
10 / 64 / 8422077 / 1.618 / 28,251.15 / 378,959.19
11 / 64 / 8422077 / 0.699 / 12,204.92 / 163,715.99
1 and 2 / 62 / 8422077 / 1.529 / 26,697.17 / 358,114.09
7 / 62 / 8422077 / 0.510 / 8,904.88 / 119,449.44
8 / 62 / 8422077 / 0.807 / 14,090.66 / 189,011.17
1 / 64 / 8422077 / 0.404 / 7,054.06 / 94,622.69
2 / 64 / 8422077 / 0.405 / 7,071.52 / 94,856.90
3 / 64 / 8422077 / 0.405 / 7,071.52 / 94,856.90
4 / 64 / 8422077 / 0.404 / 7,054.06 / 94,622.69
5 / 64 / 8422077 / 0.806 / 14,073.20 / 188,776.95
6 / 64 / 8422077 / 0.618 / 10,790.61 / 144,744.61
7 / 64 / 8422077 / 0.441 / 7,700.10 / 103,288.63
Total / 15.584 / $ 272,105.08 / $ 3,650,000.03
Interest Rate: 5.50%
125 STREET NW, 145 AVENUE TO NORTH OF 148 AVENUE NW
145 AVENUE NW, 125 STREET TO 127 STREET NW
148 AVENUE NW, FROM 125 STREET TO 127 STREET NW
Note: The above amounts will be revised upon completion of construction to reflect the
actual cost of construction.

Schedule “C”

PROPOSED STORM SEWER LATERAL AND STORM SERVICE

CONSTRUCTION LOCAL IMPROVEMENTS

$202,917.11 CASH RATE PER HECTARE
UNIT RATE OF $15,127.36 PER HECTARE PER YEAR FOR 25 YEARS
LEGAL DESCRIPTION OF PARCEL / ANNUAL / PROPERTY
LOT / BLOCK / PLAN / (HECTARES) / PAYMENT / SHARE
7 / 39 / 8422077 / 0.439 / $ 6,640.91 / $ 89,080.61
8 / 39 / 8422077 / 0.737 / 11,148.86 / 149,549.91
9 / 39 / 8422077 / 0.743 / 11,239.63 / 150,767.41
10 / 39 / 8422077 / 0.748 / 11,315.27 / 151,782.00
11 / 39 / 8422077 / 0.421 / 6,368.62 / 85,428.11
12 / 39 / 8422077 / 0.569 / 8,607.47 / 115,459.84
13 / 39 / 8422077 / 0.426 / 6,444.26 / 86,442.69
14 / 39 / 8422077 / 0.518 / 7,835.97 / 105,111.06
15 / 39 / 8422077 / 0.614 / 9,288.20 / 124,591.11
16 / 39 / 8422077 / 0.613 / 9,273.07 / 124,388.19
8 / 64 / 8422077 / 0.591 / 8,940.27 / 119,924.01
9 / 64 / 8422077 / 0.519 / 7,851.10 / 105,313.98
10 / 64 / 8422077 / 1.618 / 24,476.07 / 328,319.88
11 / 64 / 8422077 / 0.699 / 10,574.02 / 141,839.06
7 / 62 / 8422077 / 0.510 / 7,714.95 / 103,487.73
8 / 62 / 8422077 / 0.807 / 12,207.78 / 163,754.11
1 / 64 / 8422077 / 0.404 / 6,111.45 / 81,978.51
2 / 64 / 8422077 / 0.405 / 6,126.58 / 82,181.43
3 / 64 / 8422077 / 0.405 / 6,126.58 / 82,181.43
4 / 64 / 8422077 / 0.404 / 6,111.45 / 81,978.51
5 / 64 / 8422077 / 0.806 / 12,192.65 / 163,551.19
6 / 64 / 8422077 / 0.618 / 9,348.71 / 125,402.77
7 / 64 / 8422077 / 0.441 / 6,671.17 / 89,486.45
Total / 14.055 / $ 212,615.04 / $ 2,851,999.99
Interest Rate: 5.50%
125 STREET NW, 145 AVENUE TO NORTH OF 148 AVENUE NW
145 AVENUE NW, 125 STREET TO 127 STREET NW
148 AVENUE NW, FROM 125 STREET TO 127 STREET NW
Note: The above amounts will be revised upon completion of construction to reflect the
actual cost of construction.