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March 17, 2022
Brandon, MB – The Council of the City of Brandon at its regular meeting to be held in the Council Chambers, City Hall (2nd Floor), 410 – 9th Street, Brandon, on Monday, April 4, 2022, at 7:00 p.m. will hold a public hearing to consider the following proposal to borrow $40,670,500.00 (Forty Million, Six Hundred and Seventy Thousand, Five Hundred Dollars) to pay for the construction of new infrastructure and upgrades to the City’s Water Treatment Facility at 108 – 26th Street North.
Total estimated project costs of $125,000,000.00 will be funded by:
Investing in Canada Infrastructure Program – Federal Portion $46,000,000.00
Investing in Canada Infrastructure Program – Manitoba Portion $38,329,500.00
City of Brandon Portion - $40,670,500.00
Borrowing(s) will be repaid over 20 years at a maximum interest rate of 6.25% per year. Projected annual repayment amounts will be no more than $3,618,139.95 to be levied through water utility rates on a per cubic meter basis.
Copies of the proposed By-law No. 7328 are available to the public in the City Clerk’s Office, 410 – 9th Street, Brandon, during regular office hours 8:30 a.m. to 5:00 p.m. or on the City’s web site at brandon.ca.
Dated at the City of Brandon this the 17th day of March 2022 and issued pursuant to Section 174.1(1) of The Municipal Act.
