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Monday, 06 February 2012 21:22 |
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Council has voted in favour of staff moving forward on a contract with the federal and provincial governments for a permanent dyke along River Road. The City received $5.44 million dollars last week, but to move forward will require the City to borrow $3.558 million dollars from the Municipal Financing Authority to top up the costs. It was for that reason Councillor Brian Skakun could not approve the first steps. he says there are plenty of other projects, such as roads, that could use the money, especially as the number of residents and businesses that may be affected by a flood are minimal. Because the loan would be amortized over 20 years, the City will require electoral approval, either through the alternative approval process or a referendum. those options will be discussed at the next regular meeting of Council.
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