Township of Sables-Spanish Rivers Agenda Packet 2026-05-27
Royal Bank Term Loan Remains In Place
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Description
The Township maintains an unsecured term loan with Royal Bank, carrying interest at 2.98% with monthly payments of $5,104 and $58,370 outstanding at year-end 2025. The loan is scheduled to mature in December 2026.
Contract Details
Contract Amount
$58,370 outstanding principal (original monthly payments of $5,104 at 2.98%)
Vendor
ROYAL BANK
Agency
Township of Sables-Spanish Rivers, Canada
Contract Type
FINANCIAL_SERVICES
Document Date
May 27, 2026
Contract Term
Unsecured term loan maturing December 2026
Renewal Date
2026-12-31
Renewal Info
Loan is scheduled to fully amortize by December 2026; any refinancing or renewal would require a new agreement.
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