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Debenture bylaw amendments on Council agenda

Fort McMurray, AB, Canada / MIX 103.7

Debenture bylaws previously approved for multi-year projects are going in front of Council tonight for amendments.

First readings are scheduled for amendments to the bylaws for the Prairie Loop Boulevard Project, the Urban
Infrastructure Rehabilitation 2014-2016 Construction Project, Lift Station Upgrades South Project, and Flood Mitigation-Construction Project.

A total additional debenture borrowing of almost $50 million ranging from 10 to 20 years duration is
required for the four projects resulting in total debenture borrowing of $193,601,567.

To date, debenture funds have not been previously drawn for the four projects, so no borrowing costs have been incurred.

Council meets tonight at six.

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