Intention to Acquire Olds Fibre Ltd. Shares & Convert to a Municipally Controlled Corporation (MCC)

BACKGROUND: The Town of Olds has provided its notice of intention to hold a public hearing on July 26th, 2021 at 1:00 p.m. in the Council Chambers at 4512 46 Street in Olds, Alberta as required by sections 75.1, 75.5, 230 and 606 of the Municipal Government Act and Section 3 of the Municipally Controlled Corporation Regulation, prior to obtaining control of Olds Fibre Ltd. (from the sole shareholder Olds Institute for Community and Regional Development (aka: Olds Institute; OICRD; OI) by acquiring all of the shares of the same and converting Olds Fibre Ltd. into an Municipally Controlled Corporation (MCC).

See the Frequently Asked Questions

Please find below a link to BDO’s website pertaining to the documents filed in regards to the Receivership of Olds Institute for Regional and Community Development

Documents from BDO Canada

PUBLIC HEARING REGARDING OLDS FIBRE LTD.
(OPERATING AS O-NET)

Notice of Public Hearing

BACKGROUND: The Town of Olds  intends to acquire the shares of Olds Fibre Ltd., which operates  under the trade name O-NET, from the sole shareholder, the Olds Institute for Community and Regional Development (Olds Institute), effectively converting O-NET into a municipally controlled corporation.

Notice of Public Hearing

Information to Participate in the Public Hearing

BACKGROUND: The Public Hearing will be held on July 26, 2021 and will be chaired by Mayor Muzychka in Council Chambers, 4512 46 Street, Olds, Alberta. 

  • Residents are encouraged to submit questions prior to the meeting, however questions may also be asked at the hearing.
  • Written submissions may be made prior to 4:30 pm on July 19, 2021,  by mail or delivered to the Town of Olds, 4512- 46 Street, Olds, AB T4H 1R5 or,
  •  Faxed to 403-556-6537, or
  •  Emailed to legislative@olds.ca
  • All submissions received will be included on the Council Agenda. 
  • Any person(s) for, against or impacted by the formation of a Municipally Controlled Corporation may speak at the public meeting for up to five minutes.

TIMELINE - Fiscal History of Olds Institute for Community & Regional Development/O-NET

BACKGROUND: Fiscal History of loans provided by the Town of Olds to
Olds Institute for Community & Regional Development (OICRD) for the development of Olds Fibre Ltd. (operating as O-NET).

Download a printable Fiscal History graphic 

 

FAQs - Frequently Asked Questions