Enact By-law – $100M Sinking Fund Debentures

Summary

• Enacted a by-law to borrow $100 million through the issue of 4.90% sinking fund debentures, maturing over 2024–2033.
• Funds are allocated to water, sewer, drainage, and energy utility infrastructure projects under the 2019–2022 Capital Plan (with some projects delayed and now proceeding under extended borrowing authority).
• This is in addition to approximately $181 million previously borrowed under the same Capital Plan approvals.

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