Alternate Approval Process for  the Proposed Borrowing Agreement between qathet Regional District and the Municipal Finance Authority (MFA) for the Northside Fire Protection Local Service Area Construction of the Lund Fire Hall

Northside Fire Protection Local Service Area Map

Electoral Response Form

Non-Resident Electoral Response Form

Northside Fire Protection Local Service Area Loan Authorization Bylaw No. 547, 2019

NOTICE IS HEREBY GIVEN THAT, pursuant to the Local Government Act and the Community Charter, the qathet Regional District proposes to enter into an agreement with the Municipal Finance Authority, to borrow funds for the construction of a fire hall in Lund, BC for the Northside Fire Protection Local Service Area over a period of 30 years.

Northside Fire Protection Local Service Area Loan Authorization Bylaw No. 547, 2019 proposes that qathet Regional District finance up to $753,153.00 for the construction of the Lund fire hall by borrowing over a period of 30 years. To view bylaw click here.

Estimated annual loan payments for the 30-year term will be $49,940.

The Lund fire hall is in need of replacement. The current fire hall, built in the 1970’s, is undersized and the structure is in a state of advanced deterioration. To finance the Lund Fire Hall, the 2019-2023 financial plan proposes that the majority of the construction be financed over 30 years and that $50,000 be maintained as temporary borrowing until the current Lund Fire Hall property is sold. When the current Lund fire hall property is sold the proceeds would then be used to pay out the temporary borrowing. To comply with the legislation, it is recommended that any proceeds over and above the budget be set aside in the reserve to pay down the debt at the ten year mark, when the opportunity becomes available.

The proposed loan authorization bylaw will be available for inspection during office hours at the address listed below.

TAX IMPACTS

Debt payments are proposed over 30 years. The Municipal Finance Authority currently projects the 20 year borrowing rate at 3.62%. A risk adjusted rate of 5% was used to project the annual payments. The long term debt payments are projected at $49,940 per year and the interest on the short term debt is projected at $2,000 per year. The total annual debt payments will mean a residential tax rate per $100,000 to property owners within the Northside Fire Protection area as follows:

 

Form of Debt

 

Debt Amount

 

Annual Payment

 

Residential Tax Rate per $100K *

Long Term (30 Years) $703,153 $49,940 $23.23
Short Term (Temporary) $50,000  Interest only $2,000 $  0.93
Total $753,153 $51,940 $24.19

* Residential tax rates are based on BC Assessments 2019 revised roll values.

Because the proposed borrowing agreement is for more than five years, the Regional District must obtain the approval of the electors in the Northside Fire Protection Local Service Area in accordance with the Alternate Approval Process set out in the Community Charter and the Local Government Act. Under this process, any eligible elector within the Northside Fire Protection Local Service Area who objects to the proposed loan authorization bylaw and borrowing agreement may register her/his objection by signing an Elector Response Form and returning it before the Monday, July 8, 2019 deadline, as set out below.

AREA TO WHICH THE ALTERNATE APPROVAL PROCESS APPLIES

Northside Fire Protection Local Service Area which includes a portion of Electoral Area ‘A’. A map of the service area is available for viewing by visiting the Regional District office at the address listed below or by clicking here.

ELECTOR RESPONSE FORMS

  • Electors wishing to OPPOSE the proposed 30-year borrowing agreement must use the Elector Response Form supplied by the qathet Regional District.
  • Copies are available at the Regional District office [address provided below] or by clicking here.
  • Only one signature is permitted on each form. Only one elector per form is permitted.
  • It is permissible to make copies of the Elector Response Form to distribute to other electors, provided the form is copied prior to being signed so that only forms with original signatures are submitted.
  • Only eligible resident and non-resident property electors within the Northside Fire Protection Local Service Area are entitled to sign an Elector Response Form.

DEADLINE FOR RECEIVING FORMS

Elector Response Forms may be submitted in person or by mail to the Corporate Officer at the address listed below, and MUST BE RECEIVED AT THE REGIONAL DISTRICT OFFICE NO LATER THAN 4:30 PM, MONDAY, JULY 8, 2019.

Postmarks WILL NOT be accepted as date of submission.

Forms MAY NOT be submitted by fax or email.

DETERMINATION OF RESULTS

If, after the deadline, the Regional District Corporate Officer certifies that Elector Response Forms have been signed by less than 10 per cent of the eligible electors in the Northside Protection Local Service Area, the Regional District Board may proceed with the borrowing agreement as proposed above.

If, after the deadline, the Regional District Corporate Officer certifies that Elector Response Forms have been signed by at least 10 per cent of the eligible electors in the Northside Fire Protection Local Service Area, the Regional District Board may not proceed with the borrowing agreement unless it receives elector approval through a voting procedure, i.e., referendum.

For the purposes of this Alternate Approval Process, 98 elector responses must be received by the deadline of 4:30 pm on MONDAY, JULY 8, 2019, in order to prevent the Regional District from proceeding with the 30-year loan without first receiving the assent of the electors by voting.

ELIGIBLE ELECTORS

An eligible resident elector for the purpose of this Alternative Approval Process is a resident who meets all of the following criteria:

  • is age 18 or older;
  • is a Canadian citizen;
  • has been a resident of British Columbia for at least six months;
  • has been a resident of the Northside Fire Protection Local Service Area for at least 30 days; and,
  • is not disqualified from voting by the Local Government Act or any other act.

A non-resident property elector who meets all of the following criteria is also an eligible elector:

  • is not a resident of the Northside Fire Protection Local Service Area;
  • is age 18 or older;
  • is a Canadian citizen;
  • has been a resident of British Columbia for at least six months;
  • has been a registered owner of real property within the Northside Fire Protection Local Service Area for at least 30 days; and,
  • is not disqualified from voting by the Local Government Act or any other act.

NOTE: In the case of multiple owners of a parcel, only one of the owners may vote as the non-resident property elector for that parcel with the authorization of a majority of the remaining owners. Click here to view form. Properties owned in full or in part by corporations are not entitled to vote.

 

FOR FURTHER INFORMATION CONTACT:

Linda Greenan, Manager of Financial Services
Michelle Jones, Manager of Administrative Services

 
qathet REGIONAL DISTRICT OFFICE
#202 – 4675 Marine Avenue, Powell River, BC V8A 2L2
Monday to Friday, 8:30 am-4:30 pm, except statutory holidays
Phone 604.485.2260   Email: vote@qathet.ca