File #: 25-0679    Version: 1 Name:
Type: Action Report Status: Carried
File created: 5/30/2025 In control: Surfside Park Estates Water Service Committee
On agenda: 6/26/2025 Final action: 6/26/2025
Title: Capital Projects Requiring Funding - Potential Funding Options and Cost Implications
Attachments: 1. Staff Report: Capital Projects Requiring Funding – Options & Cost Implications, 2. Appendix A: Surfside Water System Tank Replacement Options Analysis, 3. Appendix B: Matrix of Elector Approval Processes, 4. Appendix C: Draft Letter & Petition for Surfside 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.