The District wishes to proceed with Loan Authorization Bylaw (WWTP Stage 3) 861, 2013 authorizing the borrowing of up to $1,070,000 to fund a portion of the $7 million Wastewater Treatment Plant Stage 3 Upgrade. Read the Report to Council to find out more about the project.
If 10% of eligible voters sign and submit eligible Elector Response Forms, the District will not be permitted to proceed with the borrowing bylaw and it would be necessary to provide funds for the project from reserves or some form of internal financing.
The annual debt repayment will be approximately $96,200 per year over 15 years. The debt payments will be funded from the Sewer DCC Reserve when the reserve balance is available. In the short term, the sewer fund may need to cover the debt payments. No increase in sewer rates will result from the debt financing.
The District may proceed with the borrowing only if it does not receive opposition from at least 10% of the electors of Lake Country.
The AAP is open to all qualified electors in the District, which is estimated to be 9,315 based upon the Statistics Canada 2011 Census Profile. Ten percent, or 931, eligible electors must sign an elector response form against the borrowing in order to prevent Council from proceeding.
If you are opposed to the proposed borrowing to fund the Wastewater Treatment Plant Stage 3 Upgrade, print off, sign and return the authorized elector response form. Forms are available at the Municipal Hall beginning on April 17, 2013 and must be submitted to the Corporate Officer on or before 4:30 p.m. Monday, June 3, 2013.
Elector response form (original must be submitted by 4:30p.m. June 3, 2013)
Loan Authorization Bylaw (WWTP Stage 3) 861, 2013 is available for public inspection at the Municipal Hall, 10150 Bottom Wood Lake Road, Lake Country, BC during regular office hours – 8:30 a.m. to 4:30 p.m. Monday through Friday, excluding statutory holidays.
For information on the Wastewater Treatment Plant Stage 3 Upgrade, please contact the Engineering Department at (250) 766-6677 or email email@example.com.
For more information on the alternative approval process please contact Reyna Seabrook, Corporate Services Manager, at (250) 766-5650 or email firstname.lastname@example.org.