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Council to approve new debenture

Posted November 27, 2017

New Tecumseth council is expected tonight to ratify a $2,877,050 10-year-debenture borrowed at 2.8 per cent interest from the Ontario Infrastructure and Lands Corporation (OILC) to finance two road improvements projects in Alliston (14th Line) and Tottenham (4th Line).

The debenture is spread out over 20 semi-annual payments, the first of which is due June 15, 2018, and will cost $424,647.17 when the final one comes due Dec. 15, 2027.

Below are New Tecumseth's debt obligations at Dec. 31, 2016

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All stories, unless otherwise noted,
by Tony Veltri