Council Says Yes to Alternate Approval Process for Project Loans
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.
Should one generation consume beyond its means and either expect or hope that the next generations will somehow pick up the tab?
– Chris Martenson
Is alternate approval any relation to Trumps alternate facts?
of course they did they are counting on people not going to city hall and waiting in line to vote against it and possibly getting a ticket for parking there.
As ususal. Borrow Borrow Borrow.
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