Harbour Grace borrows for new front-end loader

Mark Squibb \ May 18, 2023

The Town of Harbour Grace will be purchasing a new front-end loader but will need to borrow from the bank to do so.

During the Town’s April meeting, councillor Gordon Stone moved that council buy a front-end loader from Bran Tractor Ltd., in the amount of $479,500 plus HST. Deputy Mayor Keith Skinner seconded the motion, and council unanimously voted in favour of the motion.

Stone next moved that the Town borrow some $479,500 plus HST from CIBC, amortized over a ten-year period.

Council again voted unanimously in favour of the motion.

Council will have to write Minister of Municipal and Provincial Affairs Krista Lynn Howell to request permission to borrow the money, as is typical of any town borrowing a large sum of money.

Mayor Don Coombs noted the item has been budgeted for the next several years.