THAT Resolution No. 320/24 of the Regular Board meeting of November 28, 2024, as adopted from the Finance Committee (Round 1 Budget) meeting recommendations of November 25, 2024, be amended as follows to accurately reflect both the additional funding required and the authorized up-to amount to be borrowed from the Municipal Finance Authority (italicized):
Recommendation No. 34 Sechelt Landfill BC Hydro Connection
THAT the following budget proposal be approved and included into the 2025 Round 2 Budget:
Budget Proposal 7 – Sechelt Landfill BC Hydro Connection – Additional Funding Required, $71,666 funded through Municipal Finance Authority Short‐Term Loan (Capital Costs) and in 2026 and ongoing a $4,000 Base Budget Increase through Taxation (Electricity Costs).
AND THAT the Sunshine Coast Regional District authorize up to $370,666 to be borrowed, under Section 403 of the Local Government Act, from Municipal Finance Authority, for the purpose of the Sechelt Landfill BC Hydro Connection project;
AND FURTHER THAT the loan be repaid within five years with no rights of renewal.