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PUBLIC NOTICE – LOAN AUTHORIZATION BYLAW 4199, 2014

 Dawson Creek City Council has given three readings to “Loan Authorization (Sewer Trunkline-2014) Bylaw No. 4199 2014”, which will authorize borrowing for the estimated cost of constructing a sewer trunkline serving the City of Dawson Creek.

The estimated cost of the project, including incidental expenses, is the sum of $8,280,000 (Eight Million Two Hundred and Eighty Thousand Dollars). The project is proposed to be funded by $8,000,000 of debt created by this Bylaw and $280,000 from sewer capital reserves.

The amount to be borrowed by the City for this project will not exceed ($8,000,000) Eight million dollars and is repayable over Twenty (20) years from the date such debentures are issued. The annual debt servicing payment on this borrowing is estimated at $668,654 and will be funded by an increase to the fixed sewer infrastructure fees. Bimonthly fixed charges for an average household is estimated to increase from $14.80 to $31.71.

A copy of the bylaw  is available here or it can be picked up at the Administration Department of City Hall during regular business hours. Any questions regarding this bylaw can be directed to Shelly Woolf, Chief Financial Officer at 250-784-3611.

Anyone who is eligible to vote in the City of Dawson Creek and prefers that this bylaw go to a referendum for elector approval must complete and submit an Elector Response Form to the Director of Corporate Administration, 10105 – 12A Street, Dawson Creek, BC, V1G 3V7 before 4:30 pm on April 25, 2014. These forms can be printed from the City’s website or can be picked up at the Administration Department of City Hall. Responses cannot be submitted by email or facsimile and must be given using the approved elector response form.

If less than 10% (720) of the total number of electors within the City of Dawson Creek submit an elector response form, Council may consider adoption of this Bylaw.

Brenda Ginter, Director of Corporate Administration

 

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