ESTEVAN - Estevan city council is looking to borrow $2 million to complete capital projects in this year's budget.
Council gave first reading at its March 27 meeting to a bylaw that would authorize the borrowing. Second and third readings would come at a later date.
It was noted at the meeting that council has tried to pay down $4 million in debt each year while borrowing $2 million. But city manager Jeff Ward said that thanks to government grants in recent years, the city hasn't had to turn to the banks.
"We've actually done an additional $8 million of debt reduction in that time without having to borrow," said Ward.
The $2 million will include $500,000 for a water main replacement on Duncan Road and McLeod Avenue and another $500,000 to resurface those roads; $275,000 for the Smith Street reservoir electrical and $725,000 for a biosolids incinerator.
The water main replacement and the resurfacing are listed separately because the city has to report capital projects for the utility and general funds separately.
The Smith Street reservoir is in the first phase, Ward said.
Councillor Shelly Veroba noted that when they were borrowing $2 million, interest rates were low and it made sense. Now that rates are higher, she wanted to know if this was still the right approach.
Ward replied the city would be borrowing at 4.26 per cent, which is comparable to previous loans.
The city has opted for seven years to repay the $2 million.
"One thing that has been an issue with our management is that we want to try to be as close to debt free by 2030 … pending any large and major capital projects," he said.
•••
Councillor Tony Sernick who is currently the deputy mayor, chaired the meeting as Mayor Roy Ludwig was on vacation.
•••
Council approved Black Grasshopper Pub & Eatery's annual parking lot party, scheduled for Aug. 12 from 6 p.m. to 2 a.m. There will be a stage with live music, a bar, picnic tables and food within a gated area in the parking lot.
•••
One building permit worth $185,000 was issued in February, bringing the total for the year to three permits worth $340,000. All three have been for commercial projects.
•••
During the inquiries portion of the meeting, Coun. Travis Frank brought up the provincial sales tax 小蓝视频 applied to event tickets. He noted it has been a source of concern for the Estevan Exhibition Association and the Souris Valley Theatre, among others. Frank also pointed out the issue will be brought up at the upcoming convention of the Saskatchewan Urban Municipalities Association.
He encouraged people to send their concerns to their 小蓝视频.
Ward added concert tours have been skipping Saskatchewan and going to Alberta and Manitoba.
Veroba pointed out that the Souris Valley Theatre, Souris Valley Museum and the Estevan Art Gallery and Museum are all looking for board members, and she encouraged people to step forward and apply.
Councillor Lindsay Clark noted he was pleased to see good attendance for a recent SaskPower open house in Estevan, but he wants to have a meeting with SaskPower and the provincial government to talk to them about the impacts of people losing their jobs, both for employees and the community.
