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(file photo/meadowlakeNOW Staff)
ML city council

City approves borrowing bylaw for line-of-credit increase

Apr 4, 2023 | 11:56 AM

In a special meeting on Monday, Meadow Lake council approved a borrowing bylaw for an increase to the city’s line of credit.

Mayor Merlin Seymour said the $600,000 increase to the city’s operating line of credit with RBC Royal Bank was needed as a precaution, while waiting for some federal-provincial grant money to come in.

“We want to make sure we are able to cover our expenses, as of right now,” he said. “Our first-quarter mailings [for utility billings to property owners] went out, so the cash flow isn’t as good as it could be… We are not in any financial problems by any means. We just want to make sure we are going to be able to pay our bills on time.”

The city is also anticipating some property tax revenue to arrive.

Seymour noted the Investing in Canada Infrastructure Program (ICIP) grant specifically was to fund the city’s walking path addition.

“We paid for everything that was required to get the walking path going,” he said. “We just hadn’t received any funding back from the grant money yet. It’s about a $2 million grant, in conjunction with Flying Dust First Nation, that we will be getting back because we had paid for everything. It’s just a timing thing. We just wanted to make sure we’re able to run everything.”

The whole cost of the project was covered through the federal-provincial grant. The city originally applied for the funding in a co-application with Flying Dust First Nation.

The walking path addition project is close to being completed. Crews put up some lighting in March for the paved path— that was finished late in the fall of 2022. There are still some final details to be done once spring comes. The new walking path runs from the existing walking path at Lions Regional Park in Meadow Lake, traveling down the east side on Third Street East, and eventually connecting with Flying Dust First Nation.

“Basically, it connects our two communities,” Seymour said. “Previously, there were pedestrians out [walking] on the highway. This alleviates that problem [by] getting people off of the highway, just a safety [matter], and having accessibility into the city, back and forth from Flying Dust.”

Angela.Brown@pattisonmedia.com

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