Prince George City Council has elector approval to borrow funds for a trio of projects.
Earlier this year, City Council approved capital projects with a funding source designated as either “MFA (Municipal Finance Authority) Debt Proceeds” or “MFA Lease Proceeds.”
This included three projects with a combined total of $11.4 million:
- Equipment financing – $5.49 million,
- Stormwater system renewal – $2.62 million
- Civic Centre building automation system and chiller renewal – $3.26 million
Municipalities are required to gain “approval of the electors” when borrowing funds for loans with a term of more than five years.
In February, City Council chose to go through the alternate approval process to gain elector assent.
Through this process, the City posts a public notice, calling for elector responses opposing the spending. If the City receives responses from ten per cent (5,629) or more of the voting population in Prince George, they will not be allowed to proceed with adopting the bylaw.
This process for the three projects concluded on Tuesday.
According to a report being presented to Council at Monday’s meeting, none of the three projects received the amount of elector response forms needed.
At Monday’s meeting, Council will also vote on the final reading of bylaws to borrow the funds needed for the projects.
Also on the agenda for Monday’s meeting is a celebration for the CN Centre’s 30th Anniversary, as well as the 2025-26 operating agreement between the City and BC Transit.
The full agenda for Monday’s meeting is here.
Something going on in the Prince George area you think people should know about?
Send us a news tip by emailing [email protected].
