The town has given notice of its intent to make an application to the Saskatchewan Municipal Board’s Local Government Committee to borrow $1 million. The amount will be used to cover the remaining portion of the town’s $3 million commitment to the Southwest Integrated Healthcare Facility.
“We need to make sure that we have the money in place so that when we need to pay that commitment, we’re ready to make that payment,” explained town administrator Michele Schmidt.
The $1 million will be paid in four annual installments of $268,878.19 from 2015-18, with a fixed interest rate of 2.937 per cent.
Schmidt noted the loan will be covered through the $250 hospital levy being paid by residential and commercial property owners over the course of 10 years.
Residents with concerns may bring them to the town in written form by March 24. Presentations will be considered during the next regular council meeting on March 25 between 7:30 and 8:00 p.m.
The town also intends to pass a bylaw for long-term borrowing for the purchase of a new garbage truck. A total of $350,000 will be paid in three annual installments of $123,424.23 from 2015-17, with a fixed interest rate of 2.832 per cent.
“Our current garbage truck is 10 years old. The motor has gone in it,” stated Schmidt.
The town intends to purchase a new 2014 garbage truck that will include a lifting arm that the operator will be able to control from within the cab.
Once the bylaw is passed, the town will order the truck and it will take six to seven months to build and deliver.
Schmidt is currently working on the town’s budget and said it’s not clear at this point if or how this purchase will affect taxes.
“Council will be reviewing with regards to fee structures and so forth,” she said.
Those with concerns may write the town by March 24, and presentations will be considered at the next council meeting on March 25 from 7:30-8:00 p.m.