Editor:
The airport loan has been approved.
The loan will be amortized over 30 years and the Airport Authority feels it can repay the loan in 20 years through its user fees.
The Airport Authority should, after the loan is repaid, continue to deposit funds in a separate account for the duration of the amortization period.
The deposit should be an amount equal to the repayment schedule as set out over 30 years.
This would ensure that a reserve fund is available at the end of this period for any major renovations and upgrades.
This would also create a “cushion” should the City need funds for another project.
Len Lovering
Prince Rupert