long-term borrowing

Salmon Arm looks to borrow $2.3 million for ‘essential’ water infrastructure project

Salmon Arm looks to borrow $2.3 million for ‘essential’ water infrastructure project

The City of Salmon Arm will be looking for voter approval to borrow more than $2 million for one of two water infrastructure projects deemed essential by city council. At its Monday, Feb. 12 meeting, council voted to support a loan authorization bylaw enabling the city to proceed towards an alternate approval process, through which voter assent will be sought to borrow $2,298,000 for the construction of a replacement to the Zone 5 booster (water pumping) station.