City of Cold Lake Council Meeting Agenda May 13 2025
Borrowing for Public Works Centre Raised to $23M
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Description
Council amended the borrowing bylaw to increase funding for the Public Works Operations Centre by an additional $5 million for a new total of $23 million, to be financed over up to 30 years.
Contract Details
Contract Amount
$5,000,000 (amendment), total $23,000,000 (cumulative)
Vendor
PROVINCE OF ALBERTA
Agency
City of Cold Lake, Canada
Contract Type
FINANCIAL_SERVICES
Document Date
May 13, 2025
Contract Term
Not to exceed 30 years
Renewal Info
Previous amendments increased amount and payment options. Current bylaw allows up to 30-year term, max 10% interest. New borrowing replaces/amends earlier bylaw. No auto-renewal.
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