PUBLIC NOTICE: TOWN COUNCIL MEETING
There will be a public forum portion of the Town Council meeting to discuss Bylaw 03-2026 Borrowing Bylaw
Date: April 1st, 2026
Time: 7:00 p.m.
Location: Town Hall Basement 206 Richmond Street
Council will present and discuss Bylaw 03-2026 which speaks to borrowing the debenture for the Water Street Bridge Project. Residents are welcome to attend, ask questions, and share their input.
If you are unable to attend, written questions or comments may be submitted in advance by email to: townofwolseley@sasktel.net
Please include “Attn: Council” in the subject line.
Your participation and feedback is encouraged and appreciated.
TOWN OF WOLSELEY
BYLAW NO. 03-2026
A BYLAW OF THE TOWN OF WOLSELEY IN THE PROVINCE OF SASKATCHEWAN TO PROVIDE FOR BORROWING THE SUM OF ONE MILLION FIVE HUNDRED THOUDSAND DOLLARS ($1,500,000.00) BY WAY OF DEBENTURE FOR THE PURPOSE OF FINANCING THE COST OF REPLACING THE WATER STREET BRIDGE AND MAIN SEWER LINE THAT HANGS UNDER THE BRIDGE.
________________________________________________________________
WHEREAS it is desirable and necessary to borrow the sum of ONE MILLION FIVE HUNDRED THOUSAND DOLLARS ($1,500,000.00) for the purpose of financing the cost of replacing the water street bridge and main sewer line that hangs under the bridge; to be secured by the issue of debenture.
WHEREAS the amount of the taxable assessment of the TOWN OF WOLSELEY according to the last revised assessment roll for the year 2025 is the sum of FIFTY MILLION TWO HUNDRED NINE THOUSAND FOUR HUNDRED THREE DOLLARS ($50,209,403.00); and
WHEREAS the amount of the existing long-term debt of the TOWN OF WOLSELEY is the sum of ZERO DOLLARS ($0/100); no part of which either principal or interest is in arrears;
and
NOW, THEREFORE, Council of the TOWN OF WOLSELEY in the Province of Saskatchewan enacts as follows:
- THAT for the purpose previously mentioned there shall be borrowed on the credit of the TOWN OF WOLSELEY at large the sum of ONE MILLION FIVE HUNDRED THOUSAND DOLLARS ($1,500,000.00) of lawful money of Canada, and debenture shall be issued therefor, bearing interest at the rate of FOUR decimal ONE FIVE per centum (4.15%) per annum, payable yearly, payment of the instalments of principal and interest due in each of the years of the currency of the said debenture.
- THE said debenture shall bear date of the 18th day of March 2026, and the respective instalments of principal and interest shall mature on the 18th day of March 2027 to 2036 inclusive respectively.
- THE debenture shall be sealed with the seal of the TOWN OF WOLSELEY and shall be signed by the Mayor and Treasurer. With the exception of the signature of the Treasurer certifying to the registration of the debenture in the securities register of the TOWN OF WOLSELEY, the signatures of the Mayor and Treasurer on the said debenture may be reproduced by lithographing or printing or any other method of mechanical reproduction.
- DURING the currency of the said debenture the sum of TWO HUNDRED THREE THOUSAND EIGHT HUNDRED ONE AND 94/100 DOLLARS ($203,801.94) shall be raised annually for the payment of the debt and interest. The source or sources of money to be used to pay the principal and interest owing under this bylaw will be revenue derived from annual tax levies.
In any event, any other available source of revenue may be used.
- THIS BYLAW shall come into force and take effect on the date of approval being issued by the Saskatchewan Municipal Board, Local Government Committee.
READ A FIRST TIME this ______ day of _________________, 2026.
READ A SECOND TIME this _______ day of __________________, 2026.
READ A THIRD TIME and adopted this ______ day of ___________________, 2026.