Public Notice is hereby given that the Council of the Village of Sedley in the Province in Saskatchewan 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 Eighty Thousand dollars ($80,000), for the purpose of financing the development of land for the new subdivision.
The existing long term debt of the Village of Sedley is the sum of Two Hundred Twenty Nine Thousand dollars ($229,000).
The amount of said debt shall be repayable in installments with interest at a rate of 4.69% per annum payable monthly.
The source or sources of money to be used to pay the principal and interest owing under this bylaw will be revenue derived from general operating revenue. In any event, any other available source of revenue may be used.