Title
Municipal Finance Authority of British Columbia Equipment Financing Program Borrowing Resolution for Sooke and Electoral Area Recreation and Facilities Service
Recommendation
The Sooke & Electoral Area Parks and Recreation Commission recommends to the Capital Regional District Board:
1. That the Board of the Capital Regional District authorize borrowing of up to $60,000 under section 403 of the Local Government Act, which applies section 175 of the Community Charter to regional districts, through the MFABC Equipment Financing Program for the purchase of a golf course turf aerator for the Sooke and Electoral Area Recreation and Facilities Service; and
2. That the loan be repaid within five (5) years, with no right of renewal.
(WA)