Alternative Approval Process - Bylaw 1673 and Indebtedness AgreementA Bylaw to Authorize Borrowing for the Purpose of Providing Funds to the Vancouver Island Regional Library for Capital Purposes
Notice is hereby given to eligible electors in the Regional District of Nanaimo, that the Board intends to adopt "Regional Library Capital Financing Service Loan Authorization Bylaw No. 1673, 2013". If adopted, Bylaw No. 1673 will authorize the RDN to borrow up to $9.5 million and to enter into an Indebtedness Agreement with the Vancouver Island Regional Library, for the purpose of lending $9.5 million to the VIRL, to enable the VIRL to purchase the Downtown Harbourfront Library building located at 90 Commercial Street in Nanaimo, BC.
For more information with respect to this Alternative Approval Process, or to download the Elector Response Form, please click the links below: