CAPITAL REGIONAL DISTRICT BYLAW NO. 4374

BYLAW NO. 4374

A BYLAW TO AUTHORIZE PLANNED BORROWING OF TWENTY-TWO MILLION, SEVEN HUNDRED THOUSAND ($22,700,000) FOR THE IMPLEMENTATION OF THE LIQUID WASTE MANAGEMENT PLAN IN THE CORE AREA AND WESTERN COMMUNITIES LIQUID WASTE SERVICE

WHEREAS:

A. By Supplementary Letters Patent, Division Vll dated December 28, 1967, the Capital Regional District obtained the function of acquisition, design, construction, operation, maintenance, renewal and administration of trunk sewers and sewage disposal facilities within all member municipalities of the Regional District, except the electoral areas of Sooke and Outer Gulf lslands, converted to establishing bylaw per Bylaw No. 2312, “Liquid Waste Management Core Area and Western Communities Service Establishment Bylaw No. 1, 1995”;

B. Pursuant to the Regional District Liabilities Regulation, BC Reg 261/2004, adoption of a loan authorization bylaw is permitted if the borrowing is to implement all or part of an approved liquid waste management plan and Inspector of Municipalities approval is obtained.

C. The Capital Regional District Core Area Liquid Waste Management Plan, dated July 12, 2000, was approved March 26, 2003 by the Minister of Water, Land and Air Protection pursuant to now s. 24(5) of the Environmental Management Act. Approved works include the planning, study, public consultation, site selection, design, land and material acquisition, construction, supply and installation of all material, equipment and components and all construction necessary for the preparation and works relating to wastewater treatment and conveyance system in the Core Area;

D. The estimated cost is twenty-two million seven-hundred thousand dollars ($22,700,000);

E. Financing is proposed to be undertaken by the Municipal Finance Authority of British Columbia pursuant to agreements between it and the Capital Regional District;

NOW THEREFORE the Capital Regional District Board in open meeting assembled hereby enacts as follows:

For the purposes of the Liquid Waste Management Core Area and Western Communities Service, the Board is hereby empowered and authorized to undertake and carry out or cause to be carried out the planning, study, public consultation, site selection, design, land and material acquisition, construction, supply and installation of all material, equipment and components, and all construction necessary for the wastewater treatment facilities in the Core Area; and to do all things necessary in connection therewith and without limiting the generality of the foregoing:

(a) to borrow upon the credit of the Capital Regional District a sum not exceeding twenty-two-million, seven-hundred-thousand dollars ($22,700,000); and

(b) to acquire all such real property, easements, rights-of-way, licenses, rights or authorities as may be requisite or desirable for or in connection with construction of the said facilities.
The maximum term for which debentures may be issued to secure the debt intended to be created by this bylaw is 15 years.
This Bylaw may be cited as “Liquid Waste Management Core Area and Western Communities Service Loan Authorization Bylaw No. 1, 2020”.

READ A FIRST TIME THIS __th day of 202_

READ A SECOND TIME THIS __th day of 202_

READ A THIRD TIME THIS __th day of 202_

APPROVED BY THE INSPECTOR OF MUNICIPALITIES THIS __th day of 202_

ADOPTED THIS __th day of 202_

CHAIR CORPORATE OFFICER