Lanark Highlands Council AgendaPacket 2026-05-26
Sheridan Rapids Bridge financing application to OILC approved
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Description
Lanark Highlands Council authorized an application to Ontario Infrastructure and Lands Corporation for up to $859,208.72 in 20-year debenture financing at 4.79% to fund the Sheridan Rapids Bridges project. By-law 2026-2036 empowers the Township to complete the loan and issue debentures upon OILC approval.
Contract Details
Contract Amount
Up to $859,208.72 principal for Sheridan Rapids Bridge; interest rate 4.79% for 20 years
Vendor
ONTARIO INFRASTRUCTURE & LANDS CORPORATION ("OILC")
Agency
Township of Lanark Highlands, Canada
Contract Type
FINANCIAL_SERVICES
Document Date
May 26, 2026
Contract Term
20 years at 4.79% fixed for Sheridan Rapids Bridges
Renewal Date
2046-05-26
Renewal Info
Single 20-year debenture to be issued upon OILC approval; future refinancing debentures may be issued at maturity if required.
More from ONTARIO INFRASTRUCTURE & LANDS CORPORATION ("OILC")
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