Lanark Highlands Committee of the Whole Agenda 2026-05-26
Lanark 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, borrowing $859,208.72 for Sheridan Rapids Bridges over 20 years at 4.79% and $1,537,221.33 for fire trucks over 10 years at 4.19%. Council will consider by-laws authorizing the loan applications and associated debentures to lock in the fixed rates.
Contract Details
Contract Amount
$859,208.72 at 4.79% for 20 years (Sheridan Rapids Bridges); $1,537,221.33 at 4.19% for 10 years (Fire Trucks)
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
Loans will be repaid over fixed 20-year and 10-year terms; any refinancing would occur via future debentures if required.
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