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Town of Morris – Public Notice

TOWN OF MORRIS

PUBLIC NOTICE

REGARDING GENERAL BORROWING BY-LAW NO. 06/19

 

FOR THE PURCHASE OF LAND WITHIN THE TOWN OF MORRIS FOR INDUSTRIAL DEVELOPMENT

 

The council of the Town of Morris at its regular Council meeting in the Council Chamber, #1-380 Stampede Grounds on September 26th, 2019 at 6:30 pm will consider the following proposal to borrow $1,000,000.00 (borrowing by-law no. 06/19) to pay for:

 

                                The purchase of approx. 34 acres of land within the Town limits for the proposed use of industrial land.  The land purchased is an extension to the existing Industrial park.

 

                                The total cost for the land purchase is $550,000.00 and the balance of the funds borrowed will be used for development costs

 

                                The borrowing will be repaid over 10 years at a maximum interest rate of 3.45% per year.

 

                                The annual repayment amount will be no more than $65,966.19 to be levied annually as part of the general municipal levy.

 

Copies of the proposal to borrow and information about the capital project are available at the municipal office at #1-380 Stampede Grounds and on the municipal website at:  www.townofmorris.ca

 

Dated at the Town of Morris this 10th day of September 2019 and issued pursuant to Section 174.1 (1) of The Municipal Act.  

 

                               

Brigitte Doerksen, Chief Administrative Officer

Town of Morris

Phone: (204) 746-2531

 

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