Internal Borrowing Resolution
Motion
That Council approve internal borrowing from the Development Cost Charge (DCC) City Wide Drainage Reserve Fund in the amount of $2,163,150 in 2024 to fund the Sanitary Sewer DCC project SS44: Hamond Bay & Turner Area, for a 20-year term at an interest rate of 2.0% with repayment from sewer operations.
Sources
Agenda itemCity agenda
Staff reportPage 1
Purpose
To have Council approve an internal borrowing resolution for the portion allocated to growth for Sanitary Sewer project DCC SS44: Hammond Bay & Turner Area.
Staff recommendation
That Council approve internal borrowing from the Development Cost Charge (DCC) City Wide Drainage Reserve Fund in the amount of $2,163,150 in 2024 to fund the Sanitary Sewer DCC project SS44: Hamond Bay & Turner Area, for a 20-year term at an interest rate of 2.0% with repayment from sewer operations.
DocumentsStaff report about Economic Development