Stettler County will once again attempt to move ahead with construction of a new public works building by giving first reading to a new borrowing Bylaw 1564-16, which authorizes borrowing of $5.2 million from Alberta Capital Finance at 3.084 per cent over 30 years.
In a phone call to CAO Tim Fox following the Special Meeting held Apr. 20, Fox confirmed the details of the decision by council. The bylaw will be advertised, then come back to council for second reading at the May 11 regular meeting.
The remainder of the cost will be covered with $2 million from reserves and $1 million from Municipal Sustainability Initiative (MSI) funding. The tenders for the project came in at $1 million under estimates.
No new taxes will be required to meet the payments of $270,082 annually.
A decision regarding repairs to the old shop was held over to the next meeting.
