Sun Peaks Mountain Resort Municipality (SPMRM) has adopted the Loan Authorization Bylaw and will be proceeding with long-term borrowing of up to $7.6 million to fund core water infrastructure projects.
The project will construct water system upgrades to expand potable water services and provide improved water flows for fire protection.
Long-term borrowing requires electoral consent, and SPMRM opted for the alternate approval process or APP. The bylaw could be approved as long as the municipality did not receive 141 opposition forms (10 percent of all eligible voters).
SPMRM received seven valid and three invalid opposition forms. The voters who filed the invalid submissions were contacted to provide the additional information required, but never responded.
With the required electoral consent, council adopted the bylaw during the council meeting on Oct. 19.
The Local Government Act requires a 30 day “quashing period” to give anyone an opportunity to come forward with concerns over illegality of the bylaw or process. The quashing period will end on Nov. 18, and then the bylaw will be forwarded to the Inspector of Municipalities for final approval.
SPMRM does not yet have an exact budget or final plans for the project moving forward. Shane Bourke, SPMRM’s chief administrative officer, said the final borrowing amount will not be set until closer to December.
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