Town of Ponoka Regular Council Meeting Agenda April 8, 2025
Town of Ponoka Approves $3.1M Debenture for Street Upgrades
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Description
The Town of Ponoka will borrow $3,103,000 from the Province of Alberta through a debenture to help fund improvements to the 46 Street intersection and Highway 53. The debenture will be repaid over a term not exceeding 15 years at an interest rate up to 4.92%.
Contract Details
Contract Amount
$3,103,000
Vendor
PROVINCE OF ALBERTA
Agency
Town of Ponoka, Canada
Contract Type
FINANCIAL_SERVICES
Document Date
April 8, 2025
Contract Term
Not to exceed 15 years
Renewal Date
2040-12-31
Renewal Info
Repayment will follow annual or semi-annual installments for up to 15 years, with no stated renewals or extensions in the bylaw.
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