Media Release: Stratford Town Council Meeting Summary (February 13, 2020)
Posted on 02/13/2020
Image of council table with words council meeting summaryFor Immediate Release: February 13, 2020

The following items were discussed at the regular monthly meeting of the Stratford Town Council.

Draft Budget Presentation

Councillor Gail MacDonald, as Chair of Finance and Technology, reminded residents and Town of Stratford stakeholders of the upcoming draft budget presentation on Thursday, February 20, 2020 at 7pm. Everyone is welcome to attend and have a look at the draft budget which will be presented at that time.

Long Term Financing

A resolution was approved at the December 11, 2019 Council Meeting to award the long term financing required for the Stratford Emergency Services Centre to RBC who responded to the request for proposals with a rate of 2.81% for a 20 year bankers acceptance and interest rate swap term. A further resolution was approved at the February 12, 2020 Council Meeting to authorize the Town’s mayor and chief administration officer to enter into a Bankers’ Acceptance Service Agreement, a Credit Facilities Agreement and an ISDA Agreement with the Royal Bank of Canada.

Construction Financing

After requesting proposals from six institutions and receiving responses, RBC was awarded the tender for construction financing on the waste water delivery system of approximately $12,500,000 with the lowest rate offered at 2.40% subject to market fluctuations prior to closing. The Town of Stratford intends to replace the construction financing, net of funding from other funding partners, with term financing on or before December 31, 2020.

Building Bylaw Passes First Reading

Council approved first reading of the new Building Bylaw, Bylaw #50. They bylaw incorporates the requirements of the Building Codes and Regulations administered and enforced by the Town of Stratford.
Building Bylaw #50 10 February 2020

Committee Member Appointments

To fill a vacancy on the Recreation, Culture and Events committee, Mike Dougan has been appointed to serve for the remainder of the two-year committee term which ends November 30, 2020.

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For more information please contact:

Wendy Watts, Community & Business Engagement Manager
Phone: (902) 569-1995
Email: wwatts@townofstratford.ca

Printable Version: Media Release - Stratford Town Council Meeting Summary (February 13, 2020)