Brazeau County council has authorized the county to borrow $4 million to fund the base work and paving of Township Road 495, from Range Road 71 to Range Road 73, for a 10-year term.
Council passed first reading of the borrowing bylaw on Dec. 16, 2025, and a petition period followed. That concluded, allowing council to give second and third readings on Feb. 17.
The indicative interest rates as of Dec. 30, 2025, on a 10-year term are 3.62 per cent. The county says terms of the loan will be finalized once the loan application has been processed.
The loan is expected to be issued on April 30.
The county says passing the borrowing bylaw gives council the ability to complete the project while preserving Restricted Reserves, and spread the construction costs over the asset’s life span, although it will increase annual debt servicing costs.
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