RTA · Municipal Government Act
Part 8 — Financial Administration
262 Services or activities that are funded by agreement
of financing a service or activity that the municipality will provide
under an agreement
(a) between the municipality and another local authority or the
Crown in right of Alberta or Canada or an agent of either
Crown, and
(b) that provides that the mu nicipality is to receive payments for
providing the service or activity.
(2) The amount borrowed must not exceed the amount that will be
paid to the municipality under the agreement.
RSA 2000
Section 263 MUNICIPAL GOVERNMENT ACT Chapter M-26
186
(3) The term of the borrowing must not continue beyond the date
on which the final payment under the agreement is received by the
municipality.
(4) A borrowing bylaw that authorizes the borrowing does not
have to be advertised.
(5) Payments received by the municipality under the agreement
must be applied first to reducing the amount borrowed.
(6) Sections 256 to 259 do not apply to a borrowing referred to in
subsection (1).
1994 cM-26.1 s262