Alternative Approval Process
Silver Star Sewer Utility Service Establishment and Loan Authorization - CLOSED
OPEN HOUSE - Thursday, November 16, 2023 between 4:00-6:00 pm at the National Altitude Training Centre (NATC) at 118 Shortt Street, Silver Star Mountain
This notice is to advise electors within the Silver Star area of Electoral Area “C” of the intention to adopt Silver Star Sewer Utility Service Establishment Bylaw No. 2971, 2023 and Silver Star Sewer Utility Loan Authorization Bylaw No. 2972, 2023, as well as to enter into an agreement with Silverhawk Utilities Inc. (“Silverhawk”). The purpose of the bylaws are to establish a service and adopt a loan authorization bylaw to allow for the borrowing of up to $4,500,000 to facilitate the acquisition, operation and maintenance of the Silver Star Sewer Utility at Silver Star Mountain. The agreement, under which a liability will be incurred, is for the purchase of the assets associated with the Silver Star Sewer Utility from Silverhawk, for a base purchase price of $6,000,000 payable over four (4) years, plus a contingent liability to pay Silverhawk additional consideration in the amount of $800 per new additional “pillow unit” for a period of ten (10) years. The “pillow units” will be calculated based on the impact to the sewer system from new connections and development.
If Bylaw Nos. 2971 and 2972 are adopted, the RDNO will be authorized to establish a service and borrow up to $4.5 million to be repaid over a period not to exceed 20 (twenty) years to provide a portion of the funding required for the acquisition, operation and maintenance of a sewer utility at Silver Star.
Elector Response Forms (ERFs) must be submitted to the RDNO on forms that can be obtained during regular business hours from the RDNO located at 9848 Aberdeen Road, Coldstream, BC or downloaded from www.rdno.ca.
Deadline for receipt of Elector Response Forms is Monday, November 20, 2023 at 4:00 p.m.
*Please note that the above is a portion of the Notice and the full document can be found below along with other supporting documentation: