As work continues on the Humboldt wastewater treatment project, the City of Humboldt continues its efforts to ensure it will meet its portion of the project’s funding. At Humboldt’s City Council meeting on Monday, the City passed a recommendation that seeks to increase its debt limit from $15 million to $20 million.
The decision by Council allows the City to amend its application to the Saskatchewan Municipal Board (SMB) to increase the City’s debt limit to allow further borrowing to meet the funding demands of the project. Along with the work on the wastewater facility itself, improvements will need to be made to lift stations 1 and 4 to increase capacity. Debt limits can be increased or decreased on request to the Board.
In a briefing to Council, City controller Jace Porten explained that the SMB’s processes allow for increased debt limits to be raised in relatively small increments.
“They can have more of an update on the ongoing financial standing of municipalities. Then as needs arise for increases, we apply on a case-by-case basis.”
Prior to the contact by the SMB, the City was seeking to increase the debt limit to $28 million.
The estimated total cost of the upgrades is $40 million of which nearly $25 million will be covered by the Federal and Provincial Governments through the Investing in Canada Infrastructure Plan (ICIP).