FINANCIAL_SERVICESAPPROVED

City of North Bay Awards $12,733,945 Financial Services Contract to Ontario Infrastructure & Lands Corporation (September 2026)

The City of North Bay Council enacted By-Law 2026-57 to authorize a $12,733,945.00, 20-year debenture with Ontario Infrastructure and Lands Corporation to finance the North Bay Community and Recreation Centre project. The borrowing is at 4.70% interest with repayment in combined principal and interest instalments from September 15, 2026 to September 15, 2046.

Status
APPROVED
Document date
September 1, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Ontario Infrastructure & Lands Corporation
Agency
City of North Bay · Canada

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WithersRavenel logo
Derivita logo
Comcate logo
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Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
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Scope & details

The full contract record, as filed.

Contract amount
$12,733,945.00
Contract type
FINANCIAL_SERVICES
Contract term
September 15, 2026 – September 15, 2046 (20-year term)
Renewal date
2046-09-15
Renewal
Debenture is a fixed 20-year obligation maturing on September 15, 2046 with no standard renewal; early repayment may trigger a Make-Whole Amount as defined in the debenture conditions. Interest on overdue amounts is Prime Rate plus 200 basis points or debenture rate plus 200 basis points, and OILC may require early repayment if proceeds are misused or debts are not paid when due.
Document type
AgendaPacket
Source document
City of North Bay Special Meeting of Council Agenda and By-Law 2026-57 2026-09-01

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by City of North Bay?

Ontario Infrastructure & Lands Corporation was awarded this financial services contract by City of North Bay, as recorded on September 1, 2026. The contract value is $12,733,945.00.

How much is the Ontario Infrastructure & Lands Corporation contract with City of North Bay worth?

The Ontario Infrastructure & Lands Corporation contract with City of North Bay is valued at $12,733,945.00, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in City of North Bay Special Meeting of Council Agenda and By-Law 2026-57 2026-09-01 (AgendaPacket), dated September 1, 2026 from City of North Bay. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Ontario Infrastructure & Lands Corporation hold?

Ontario Infrastructure & Lands Corporation may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Ontario Infrastructure & Lands Corporation's profile

What is City of North Bay currently buying?

Explore City of North Bay's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

View City of North Bay's profile

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