Blackfalds council has given first reading to a bylaw that would allow the municipality to take on debt to move forward with a key infrastructure project on the town’s east side.
Council approved first reading of Bylaw 1348.26, which authorizes the Town of Blackfalds to incur up to $5.6 million in indebtedness for the construction of the McKay Ranch Lift Station. The funding would come in the form of a debenture or bank loan.
Town administration says repayment of the loan would be made through the Off-Site Levies Reserve and would not impact local taxes or utility rates.
While the current reserve does not have enough funds to cover the full cost upfront, the town is confident that future development in the area…