Borrowing resolutions: 965 McMaster Way and Tranquille Phase III Sanitary Main Replacement
Reports to Council
Lewis Hill, the City’s Financial Services Manager, provided Council with a report seeking authorization to set up short-term borrowing for two major capital projects while staff finalize legally required engagement with the Thompson-Nicola Regional District before long-term borrowing can be put in place.
Council authorized Administration to borrow from the Municipal Finance Authority of British Columbia until July 2027 and convert that loan to long-term capital borrowing as part of the 2027 spring borrowing intake for the following projects, pending the consent of the Thompson-Nicola Regional District:
- 965 McMaster Way (not exceeding $16,750,000)
- Tranquille Phase III (not exceeding $9,000,000)
View the full report.
View the presentation within the Council meeting slide deck.
Contact for further information:
Lewis Hill | [email protected]
View the full Council Highlights for this meeting
Key details
- Agenda section
- Reports to Council
- Council meeting
- 2026-08-11
- Matter lifecycle
- Decided
- Meeting appearances
- 4
Official City of Kamloops source ↗
Council outcome
Authorized
Lewis Hill, the City's Financial Services Manager, provided Council with a report seeking authorization to set up short-term borrowing for two major capital projects while staff finalize legally required engagement with the Thompson-Nicola Regional District before long-term borrowing can be put in place. Council authorized Administration to borrow from the Municipal Finance Authority of British Columbia until July 2027 and convert that loan to long-term capital borrowing as part of the 2027 spring borrowing intake for the following projects, pending the consent of the Thompson-Nicola Regional District: 965 McMaster Way (not exceeding $16,750,000) Tranquille Phase III…
Key amount(s): $16,750,000, $9,000,000
In favour: two major capital projects while staff finalize legally required engagement with the Thompson-Nicola Regional District before long-term borrowing can be put in place
Compared with staff recommendation: Council followed the staff recommendation.
Staff recommendation / action
That Council authorize Administration to: a) borrow from the Municipal Finance Authority of British Columbia a sum not exceeding $16,750,000, as authorized through 965 McMaster Way Loan Authorization Bylaw No. 57-4, 2025, as a short-term capital borrow until July 2027, and that the Thompson‑Nicola Regional District be requested to consent to the City’s borrowing over a 30-year term, and include the borrowing in a security issuing bylaw as part of the 2027 spring borrowing intake, at which time the short-term capital borrowing will be converted to a long-term capital borrowing b) borrow from the Municipal Finance Authority of British Columbia a sum not exceeding $9,000,000, as authorized through Tranquille Phase III Loan Authorization Bylaw No. 57-5, 2025, as a short-term capital borrowing until July 2027, and that the Thompson‑Nicola Regional District be requested to consent to the City’s borrowing over a 30-year term and include the borrowing in a security issuing bylaw as part of the 2027 spring borrowing intake, at which time the short‑term capital borrow will be converted to a long-term capital borrowing c) the Corporate Services Director to update the 2026–2030 Financial Plan accordingly
Civic history
This matter has appeared on 4 separate City meeting dates (this is appearance 3).
Imported by CI City Hall. Source records can change; use the official City link for authoritative information.
