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City borrowing of $7.79 million approved through alternative approval process

Council received a report outlining the results of two alternative approval process votes that took place recently.

At the regular meeting held February 5, 2024, council gave first three readings to “City of Prince George Equipment Financing Bylaw No. 9451, 2024” and “Stormwater System Renewal Loan Authorization Bylaw No. 9452, 2024” and approved an alternative approval process to be undertaken for the purpose of seeking approval of the electors.

The project budget for equipment financing is $5.24 million and for the stormwater system renewal the project budget is $2.55 million.

Council was provided a summary of the results of the alternative approval process that sets out that a total of eight elector response forms were received for Bylaw 9451, and seven elector response forms were received for Bylaw 9452.

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