Lanark Highlands Committee of the Whole Agenda 2026-05-26
Township Seeks Infrastructure Ontario Loans for Bridges and Fire Trucks
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Description
Lanark Highlands plans to secure long-term financing from Infrastructure Ontario for completed capital projects, borrowing about $859,000 over 20 years for Sheridan Rapids Bridges and $1.54 million over 10 years for fire trucks. Council will adopt by-laws to submit the loan applications and lock in fixed interest rates of 4.79% and 4.19%, respectively.
Contract Details
Contract Amount
$859,208.72 at 4.79% for 20 years and $1,537,221.33 at 4.19% for 10 years
Vendor
INFRASTRUCTURE ONTARIO
Agency
Township of Lanark Highlands, Canada
Contract Type
FINANCIAL_SERVICES
Document Date
May 26, 2026
Contract Term
20 years for Sheridan Rapids Bridges loan; 10 years for Fire Trucks loan
Renewal Date
2046-07-31
Renewal Info
Debenture terms run 20 years for the Sheridan Rapids Bridges loan and 10 years for the Fire Trucks loan, with annual repayments built into the municipal levy; refinancing debentures may be issued at maturity if needed.
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