Saanich council has authorized the city to borrow more than $8 million to fund various improvements in the district.
Council gave final reading to several bylaws on Monday, approving the borrowing of money for improvements Saanich’s sewer ($2.764 million) and storm drainage ($1.5 million) systems, as well as transportation ($2.8 million) and parks ($1 million) capital projects.
The money will be borrowed on the credit of the municipality.
Debentures may be issued to secure the debt created by the bylaws over the next 15 years.