1538974 AB Ltd(Formerly CUI) Reports & Information
1538974 AB Ltd. (Formerly CUI) Reports & Information
1538974 AB Ltd. (Chestermere’s Utility Co formerly known as CUI)
In 2019, the City took over control and supervision of CUI. The City, as sole shareholder, appointed its municipal councillors as the directors of CUI and the decision was made to return utility services to the City.
As part of this transition, CUI changed its name to 1538974 Alberta Ltd. Once CUI’s debt is paid off, the corporation will be dissolved.
While the corporation continues as a legal entity for the purpose of holding and paying off CUI’s debt and still has legal responsibilities under the Chestermere Utilities Exclusivity Bylaw, the City has entered into agreements with the corporation for the City to provide the day-to-day operation of water, wastewater, and stormwater services, solid waste collection and disposal, and recycling within the City.
Annual financial statements and other reports are listed here: