$7 million airport improvement loan easily passes alternate approval process

Residents of Prince Rupert showed overwhelming support to the $7 million airport improvement loan.

Residents of Prince Rupert showed overwhelming support to the $7 million airport improvement loan, easily letting it pass the alternate approval process.

In order for the loan to be defeated, approximately 900 people would have needed to submit signed electoral response forms to city hall by the end of business on Nov. 12, but over the course of several weeks only three people put their opposition on paper. Although the loan has passed the alternate approval process, and received electoral approval, chief financial officer Corinne Bomben said there is still a lot to be done before the money comes to the Prince Rupert Airport Authority.

“Moving forward the bylaw will be passed at the Nov. 25 public council meeting and then enter the mandatory one month quashing period. We then have to apply for a certificate of approval from the Inspector of Municipalities,” she explained.

“With that, we can then apply for a security issuance from the Skeena – Queen Charlotte Regional District, which then have to go through their process in terms of passing a bylaw and a mandatory quashing period.”

Once passed by the municipality and the regional district, the loan goes to the Municipal Finance Authority for approval.