The new year will bring a decision on borrowing to the citizens of Sun Peaks.
Council embarked on building a new portable water treatment plant to ensure all water needs could be met in the event an emergency which began operating in mid-December. The project cost $1.4 million which comes in the form of a 20 year loan.
Council must get approval for all borrowing over five years, so an alternative approval process was selected as it’s more cost effective than a referendum. In this system, 10 per cent of the population, or roughly 125 people, need to vote against the borrowing for it to fail.
In that case SPMRM could hold a referendum or the money would be borrowed on a shorter time frame which would result in higher annual payments and potentially a higher tax rate.
The surface water portable treatment plant will be reused in the future permanent plant, which will be eligible for provincial and federal grants.
The approval process will take place from Jan. 14 to Feb. 12.