Please find below the Notice of Alternative Approval Process and Elector Response Form to authorize borrowing for upgrades to Cliff Avenue.
The Corporation of the City of Enderby intends to proceed with the adoption of the Upgrades to Cliff Avenue Loan Authorization Bylaw No. 1590, 2016 which authorizes the borrowing of up to $467,000 for a twenty year period for the purpose of financing the cost for upgrades to Cliff Avenue east of Highway 97A. The overall project cost is $1,895,000 of which $467,000 is to be funded through borrowing and $1,428,000 is to be funded through a combination of reserves and current taxation/user fees.
The City is proposing to borrow $467,000 over a twenty year period so that the annual cost will be less for the rate payers. The annual cost of borrowing will be $9.55 per $100,000 of assessed value to a residential taxpayer (or $17.85 per $100,000 of assessed value for a business taxpayer). The average residential assessment is $217,120. Accordingly the cost for an average assessed residence will be $20.10 over twenty years.
Council may adopt Bylaw No. 1590, 2016 only if it does not receive elector responses against the bylaw signed by at least 10% of the electors of the City of Enderby. Under section 86 of the Community Charter, the number of electors who must sign the alternative approval process elector response form against the bylaw in order to prevent Council from adopting the bylaw is 238. If you are not opposed to the adoption of the proposed bylaw, you need do nothing. If elector approval is not obtained, alternate funding will be sought which may include an increase to taxation.
Elector response forms will only be accepted if they are in the form established by the Council. The deadline for submitting the signed Elector Response Forms opposing the bylaw is 4:30 pm on Monday April 25, 2016. The only persons entitled to sign the forms are the electors of the City of Enderby.
Please note that the above is a portion of the Notice. The full document can be found below. In the event of a discrepancy, the notice shall prevail.