ALEXANDRIA – North Glengarry will be going to the bank to pay for its recent light conversion to LED street fixtures.
Just over 850 lights were changed out in the last year at a cost of nearly a half million dollars.
In weighing its opens, the township decided to go with a slightly higher interest rate for a three year loan at the Royal Bank of Canada rather than financing through Infrastructure Ontario.
That’s because the bank rate is fixed while the provincial rate could creep up.
With an anticipated energy savings of 5.5 per cent, much like Cornwall, North Glengarry expects the project to pay for itself.
Nearly a fifth of the township’s energy bill goes to street lighting.