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October 27, 2017 6:17 pm

Council Says Yes to Alternate Approval Process for Project Loans

Monday, March 27, 2017 @ 6:31 PM

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

ht tp://www.peakprosperity.com/martensonreport/exponential-money-finite-world

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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