Airdrie council has given first reading to what administration said is the city\u2019s largest borrowing bylaw to date, authorizing nearly $99 million in debt to fully fund five major capital projects planned for 2026.<\/p>\n
Council voted to give first reading to Borrowing Bylaw B-39\/2025, which authorizes the City of Airdrie to borrow $98,800,222 to complete infrastructure projects included in the approved 2026 budget.<\/p>\n
The debt-funded projects include the 24th Street \u2013 Cobblestone Gate to Southwinds Drive road extension, the South Regional Lift Station, wastewater forcemain construction to Calgary, the Vantage Rise (West) reservoir pump station, and a fire tower apparatus.<\/p>\n
Deputy Mayor Ron Chapman asked whether the borrowing fully covers the listed projects, including the wastewater forcemain construction to Calgary. Manager of Treasury Monica Labait replied: \u201cYes, that is correct. It\u2019s the full funding.\u201d<\/p>\n
Chapman also asked whether the bylaw represents the highest level of borrowing council has approved to date. Labait replied, \u201cThrough the chair, yes, last year I brought the highest that we had had yet, which was 85 and this is now.\u201d<\/p>\n
Under the Municipal Government Act, borrowing bylaws must be advertised for two consecutive weeks and are subject to a petition period. Administration said the bylaw will return to council on Jan. 20, 2026, for second and third readings, provided no petitions are filed.<\/p>\n
According to the agenda report, debt servicing costs associated with the borrowing were already incorporated into the approved 2026 operating budget, with no additional operating impact identified.<\/p>\n
The bylaw states the city\u2019s outstanding debt stood at $59,768,001 as of Dec. 31, 2024, with no principal or interest in arrears.<\/p>\n
Administration warned that defeating the borrowing bylaw at first reading would delay the projects until alternative financing is arranged.<\/p>\n