You can no longer buy Alberta Savings Certificates
or Alberta Capital Bonds. The Alberta Government
stopped issuing them in 1997. All of the issues
of Alberta Savings Certificates and Alberta Capital
Bonds have now matured. The last issue matured on
June 1, 2004. There is also approximately $3.5 million
in matured certificates and bonds that have not
been cashed in, or redeemed, by their owners.
For specific information
regarding Alberta Savings Certificates and Alberta
Capital Bonds please contact:
Treasury
Management
302 Terrace Building
9515-107 Street
Edmonton, AB T5K 2C3
(780) 422-1753 (call 310-0000 for toll-free access)
Background
The Alberta Government
first issued Alberta Capital Bonds in the Spring
of 1987. The money was used to pay for certain capital
projects and to help offset budget deficits. In
1993, the province stopped running deficits, but
continued to sell the bonds.
In 1996, the name was
changed from Alberta Capital Bonds to Alberta Savings
Certificates. By 1997, the Alberta Government had
raised $5.7 billion through the bonds and certificates,
but we stopped selling the certificates because
we developed even more cost-effective ways to raise
money.
Redeeming
Alberta Capital Bonds
The last issue of Alberta
Capital Bonds matured on June 1, 2000. To redeem
your Alberta Capital Bonds, contact Treasury Management
for instructions. Once the bond has been verified,
a cheque will be issued and you may present this
to your financial institution where you do your
normal banking.
Redeeming
Alberta Savings Certificates
Redeeming savings certificates
is different than redeeming capital bonds. A feature
of the Alberta Savings Certificates is that principal
and interest is automatically deposited to the owner’s
bank account on due date. If you did not receive
the final principal and interest payment, you should
contact Treasury Management.
Redeeming the
bonds and certificates of someone who has died
When the registered
owner of Alberta Savings Certificates or Alberta
Capital Bonds passes away, the executor or administrator
of the estate may either have the bond redeemed
or transferred to a beneficiary of the estate. The
Executor of the Estate must endorse (sign) the confirmation
of purchase or bond certificates and submit them
to Treasury Management with specific instructions
and other documents that may be needed such as a
copy of Letters Probate, the Death Certificate,
and a declaration of transmission.
Replacing damaged,
destroyed, stolen or lost bonds and certificates
Bonds are valuable
documents and should be kept in a safe place. If
lost, stolen or destroyed, they can be replaced.
The registered owner should contact Treasury Management.
To replace bonds issued in 1995 or earlier, the
registered owner will be required to fill out an
Affidavit of Loss and purchase a Bond of Indemnity.
Getting your
T-5 slip for your income taxes
T-5s were issued annually
for tax reporting purposes. If you have any questions
regarding a T-5, please contact the Treasury Management
Division.
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