The RM of Lakeshore is set to hold a public meeting at 4:00 PM on Monday, June 8th, to go over their need to borrow almost $2.5 million to make up for reported deficits.
The hearing will be part of their regular council meeting, and will take place at the Ochre River Community Hall, 401 Mann Street.
According to a release from the RM of Lakeshore, if the bylaw is passed, the borrowing will be repaid over 10 years with interest of 5%, making the annual repayment amount $249,754. The RM's reported deficit from 2023 and prior is $1,825,399, and the reported 2024 deficit is $672,144. The proposed repayment would be part of the municipality's annual taxes, as part of the RM's general municipal levy.
Also from the news release, copies of their borrowing proposal are available at the municipal office. This hearing is open to the public.
