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For Immediate Release: July 28, 2021
The following item was discussed at Special Council Meeting of the Stratford Town Council held on Wednesday, July 28, 2021.
Interim Financing
A resolution was passed to allow the Town to obtain short term financing of $2,500,000 to finalize the purchase of the Community Campus lands through a Bankers Acceptance as the rates are significantly lower than our line of credit. The only bank that the Town currently has a BA with is the Royal Bank of Canada which is providing a 3 month term at a rate of 0.44% and a credit spread of 0.47% for an all-in rate of 0.91%, subject to market fluctuations prior to closing.
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For more information please contact:
Wendy Watts, Community & Business Engagement Manager
Phone: (902) 569-1995
Email:
[email protected]
Printable version:
Media Release - Stratford Town Council Special Meeting Summary (July 28, 2021)
Agenda
Recording