City of Cranbrook AgendaPacket 2026-05-25
Cranbrook Seeks MFA Loan For Sewer Project
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Description
The City of Cranbrook plans to borrow $8,119,430 from the Municipal Finance Authority of British Columbia to permanently finance the Shadow Mountain Sanitary Sewer Construction Local Area Service over a 30‑year term. The debt will replace temporary borrowing and be repaid via a local area service parcel tax.
Contract Details
Contract Amount
$8,119,430
Vendor
MUNICIPAL FINANCE AUTHORITY OF BRITISH COLUMBIA
Agency
City of Cranbrook, Canada
Contract Type
FINANCIAL_SERVICES
Document Date
May 25, 2026
Contract Term
30 years
Renewal Date
2056-09-30
Renewal Info
Single 30‑year debenture issue under MFA’s 2026 Fall Borrowing Session; no renewals described beyond standard refinancing options at maturity.
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