Yorkton Council gives final approval to brick mill loan

YORKTON - Yorkton Council had already taken the step at their May 27, regular meeting to loan the Yorkton Brick Mill Society money to help it finish work on the interpretive centre construction currently has under way, with unanimously support for the first reading support to a bylaw which would allow the city to lend the money.

In accordance with The Cities Act, a Council may only lend money by way of passing a bylaw, and only if it is guaranteed that the money will be used for a purpose that will benefit the city, and that it is loaned to a non-profit organization.

The amount involved in the loan is a maximum of $240,000 dating back to a resolution of Council made in 2022, to be paid back over four years.

As part of the bylaw process it was sent to Public Notice.

At this Monday’s meeting of Council it was learned no responses to the notice were either mailed, or in attendance at the meeting.

Council then proceeded to pass both second and third reading of the lending bylaw.