Prince George, B.C.-  Council for the City of Prince George has  given the nod  to  go to the alternate approval  process   in order to  go ahead  and borrow  money for  a number of  projects.

A separate petition will be prepared for each  project,   and would  require  at least 10% of  eligible voters  to return a ballot  indicating they are opposed to  the  borrowing.  In the past that  would mean  about 5,500 signatures would be needed.  Even if a project  is rejected by the electorate,  Council could  then decide to go to a referendum, or cancel the project.

The  need for electoral  approval   is required  because of the  proposed term of each loan.   If a loan is over 5 years,  it must be approved by the electorate.  The shortest term for any of the projects,  is  10 years.

Hart Industrial Storm Drainage                        $1.47 million     term-20 years

Mobile Equipment Financing                           $4.222 million   term – 10 years

Public Works Yard Development                     $1.45 million     term – 20 years

Nechako Riverside Park                                  $630 thousand  term – 20 years

Snow Disposal, West Bowl                              $2.93 million     term – 20 years

All of the projects have been approved in the  Capital Plan that  was presented earlier this year as part of the  budget discussions.