Lanark Highlands Council AgendaPacket 2026-05-26
Sheridan Rapids Bridge Debenture Financing Authorized
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Description
Lanark Highlands Council authorized a loan application to Ontario Infrastructure and Lands Corporation for up to $859,208.72 in debenture financing for the Sheridan Rapids Bridge replacement, targeting a 20‑year term at a fixed 4.79% interest rate. The borrowing will be repaid through the municipal levy.
Contract Details
Contract Amount
Not to exceed $859,208.72 in debenture principal
Vendor
ONTARIO INFRASTRUCTURE & LANDS CORPORATION
Agency
Township of Lanark Highlands, Canada
Contract Type
FINANCIAL_SERVICES
Document Date
May 26, 2026
Contract Term
Up to 20 years (debenture term; fixed rate 4.79% noted in motion for Sheridan Rapids Bridge)
Renewal Info
Single long-term debenture issuance; no renewal provisions indicated. Refinancing debentures may be issued at maturity as permitted by the Municipal Act and OILC framework.
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