The City of Swift Current is seeking about $3.5 million from a financial institution to cover the cost of a multitude of projects this year.

Late last month Swift Current City Council voted to create a bylaw to borrow the large sum of money to tackle 11 upgrades tied to their water & wastewater utilities and rural water utilities. 

"Debt is a useful tool in certain circumstances when you want to spread payment for an asset over the lifetime of that asset so that the people who enjoy it over that course of time, contribute to paying for it as well," Swift Current city councillor Ryan Plewis said.   

According to a report during council, the City's 2022 budget intended to borrow nearly $4.05 million for the laundry list of upgrades but some federal funding will save them about $570,000 after re-allocations.

"I would like to congratulate administration on a job well done for moving stuff around and eliminating as much debt as possible," said Swift Current city councillor Tom Christiansen.  

Almost $3.06 million of the financing will be used to cover water & wastewater utility upgrades.

  • Infrastructure on 10th Avenue Northeast
  • Upgrades to North Hill Reservoir 
  • Roof repair at the water treatment plant
  • Biosolids management 
  • Replacement of PLC computer system
  • Upgrade to system controllers at the water & wastewater treatment plants

The remaining $420,000 will be used for rural water utility improvements.

  • Upgrades to east and west sections
  • Install SCADA and chlorine monitoring system
  • Install curb stops and flush points
  • Purchase a GPS location system
  • Replace 2014 Chevolet 3/4 ton truck

To fund the interest and principal payments for the loan, the City will raise water & wastewater rates an additional 1 per cent in 2022 onto of the annual 2 per cent. They will also begin charging 20 per cent monthly to rural water customers.

While the City is set to add nearly $3.5 million in debt for the projects, by the end of the year they anticipate their general operations & utility debt to shrink from $55.5 million at the start of the year to $55.1 million.