Why is this loan necessary?

Staff writer
February 28, 2014 01:00 AM

Editor:

We believe that residents of Sechelt have as much right to their opinions as Mr. Campbell (Letters, Feb. 21) and that name calling serves no useful purpose. (Nay- sayers is a derogatory remark.)

If the District of Sechelt's financial house is in such good order, and our wastewater treatment plant is on budget, why do we have to borrow $7.4 million?

This wastewater treatment plant was describedon several occasions as fully funded by reserves and external grants. Then in mid-2013 a council meeting passed a motion to obtain a loan for $2.5 million for this plant.

Now in February 2014 we are being asked for our vote ina referendum to approve a loan for $7.4 million for this same plant. It is time for this bleeding to stop. It is time to hold the council to its word and defeat this referendum.

Interest free or not, all loans have to be repaid. Payments for this large loan would be about $70,000 per month for the next 10 years.

This loan will handcuff the next mayor and council. If necessary, the next mayor and council can apply for a loan and grant, in line with new priorities.

The District of Sechelt has repeatedly said that it does not need this funding. Then there is no reason for the loan, and a sound reason to say no.

Barry Pruden and George Goudie

Sechelt


© Coast Reporter

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