City of Kelowna AgendaPacket Regular Council Meeting 2026-05-25
Kelowna Approves $60M MFA Borrowing for Rec Centre
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Description
Kelowna Council approved borrowing $60 million from the Municipal Finance Authority of British Columbia in the 2026 fall issue to fund the Recreation and Activity Centre under Loan Authorization Bylaw No. 12540. The borrowing will be supported by a 30-year security issuing bylaw prepared by the Regional District of Central Okanagan.
Contract Details
Contract Amount
$60,000,000
Vendor
MUNICIPAL FINANCE AUTHORITY OF BRITISH COLUMBIA
Agency
City of Kelowna, Canada
Contract Type
FINANCIAL_SERVICES
Document Date
May 25, 2026
Contract Term
30-year term for security issuing bylaw (borrowing issue)
Renewal Date
2056-12-31
Renewal Info
Single 30-year borrowing issue; no renewals contemplated as this is long-term debt.
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