Title
Bylaw 2026-08 - Infrastructure Borrowing - Entwistle Water Loop West Highway 16 Interchange
Proposed Motion
That Bylaw 2026-08 - receive first reading.
Body
Administration Recommendation
Administration supports the proposed motion.
Purpose
In accordance with Sections 251 and 258 of the Municipal Government Act, Council is required by Bylaw to facilitate long-term borrowing of funds.
Summary
The project will establish a second waterline crossing beneath Highway 16 and CN Rail line, connecting the existing water reservoir to residential and commercial areas in Entwistle.
Design was initiated in 2024 and continued into 2025 with construction scheduled for 2026.
The cost of the infrastructure is not to exceed $1,985,000 and will be accommodated by debt borrowing. The anticipated interest rate is to be determined but is not to exceed 10 percent over a term not to exceed 30-years, as outlined in Bylaw 2026-08.
The repayment of the indebtedness for infrastructure, plus any interest expenses, is to be funded by utility rate revenue, municipal taxes and/or restricted surplus funds.
Administration will use an authorized financial institution or Province of Alberta, to facilitate the debt borrowing needs.
Historical Information:
-2024 Budget - Funding of $60,000 was approved for the initial design of the Entwistle Water Loop West Highway 16 Interchange project.
-2025 (RFD 25-138) - An additional $50,000 was approved to complete detailed design work.
-2026 Budget (APP 25-087) - Capital funding of $1,125,000 was approved to advance construction of the project.
-2026 Feb 24 meeting (RFD 26-041); requesting transfer of $750,000 from the Entwistle Reservoir Project
Strategic Plan/Policy/Legal/Staff Implications:
Municipal Government Act - Sections 251 and 258
Financial Impact:
Cost: $1,875,000
Source of Funding: Debt