Details are being flushed out on Greater Vernon’s proposed new library and garnering public assent. It’s anticipated the North Okanagan Regional District board will consider three readings for a bylaw Wednesday that will establish an alternate approval process for borrowing up to $11 million for the facility. “Before we can set a date (for the petition), we have to get approval from the provincial inspector of municipalities,” said Maggie Knox, NORD’s general manager of corporate services. Under the alternate approval process, if 10 per cent of North Okanagan voters sign a petition in opposition, borrowing for the Vernon library can’t occur. NORD will borrow the funds through the Municipal Finance Authority because of competitive interest rates (Okanagan Regional Library cannot apply to MFA directly). But ORL will repay the principal and pay the interest, fees and financing. Cost-sharing will be done by the entire ORL district, which goes from Golden to Osoyoos and Princeton.
The earliest the petition process may begin is July as NORD staff have to still determine the wording of the petition and estimate the number of electors in the region. And because the North Okanagan includes a number of communities, locations for the alternate approval petition must be determined. “We will ask each municipality to make the petition available, as well as it being at the regional district office,” said Knox. If the alternate approval process fails, ORL will consider other financing methods for the branch.
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