Township of North Stormont Agenda Packet 2026-05-26
OILC debentures finance long-term municipal infrastructure
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Description
North Stormont continues to carry several Ontario Infrastructure and Lands Corporation debentures with maturities between 2026 and 2044, financing roads, facilities, and other capital infrastructure. These fixed-rate loans form a significant portion of the Township’s $4.8 million in outstanding municipal debt.
Contract Details
Vendor
ONTARIO INFRASTRUCTURE AND LANDS CORPORATION
Agency
Township of North Stormont, Canada
Contract Type
FINANCIAL_SERVICES
Document Date
May 26, 2026
Contract Term
Various maturities between 2026 and 2044
Renewal Date
2044-07-31
Renewal Info
Each debenture is a fixed-term loan; renewals would require new borrowing agreements upon maturity.
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