Council of the Township of Whitewater Region authorize the long-term financing of the 2022 Freightliner Tandem Plow Truck and the application for temporary borrowing for the Olmstead-Jeffrey Lake Road project.
Treasurer Sean Crozier said this was part of two by-laws that needed to be passed in order to finalize the purchase financing of the truck and “starting a debenture for the truck.”
He said that a five-year loan would have interest rate of 2.37%, with the repayments being roughly $64,000.
He said the monthly borrowing would be ‘in the vicinity of $1000-$1500 dollars.”
The motion was carried without questions.
