WHEREAS BC Regulation 3682003 Short Term Borrowing Limit Regulation contains a limit of 50 per capita; AND WHEREAS the 50 per capita for short term borrowing limit has existed for at least twenty 20 years, without amendment: THEREFORE BE IT RESOLVED that the provincial Ministry of Community Development be requested to lobby the provincial government for an immediate amendment to the Community Charter and Short Term Borrowing Limit Regulation 3682003 to increase the per capita limit for short term borrowing from 50 per capita to 250 per capita.
MINISTRY OF COMMUNITY RURAL DEVELOPMENT The Ministry acknowledges that the 50 per capita limit set out in B.C Regulation 3682003 has not been amended in over 20 years. The Ministry will be reviewing the current limitations set out in the regulation to determine first, if an increase to the per capita limit is necessary; and second the amount of an increase.