File #: 25-0677    Version: 1 Name:
Type: Action Report Status: Carried
File created: 5/30/2025 In control: Lyall Harbour Boot Cove Water Local Service Committee
On agenda: 6/10/2025 Final action: 6/10/2025
Title: Capital Projects Requiring Funding - Potential Funding Options and Cost Implications
Attachments: 1. Staff Report: Capital Projects Funding Options and Cost Implications, 2. Appendix A: Matrix of Elector Approval Processes, 3. Appendix B: Draft Letter & Petition for the LH/BC Water System Borrowing

Title

Capital Projects Requiring Funding - Potential Funding Options and Cost Implications

 

Recommendation

1. That the petition process be initiated to borrow up to $2,000,000 over 25 years debt term to complete the capital improvement projects.

2. If the petition process is successful, that a loan authorization bylaw be advanced to the Electoral Areas Committee and Capital Regional District Board for readings and adoption; and

3. That staff complete the remaining steps required to secure the funds and begin the projects.