Local ratepayers still have a few years to go before two high profile public facilities are paid for. The debt on the Performing Arts Centre will be retired in 2021, while for Wesbild Centre, it's not until 2023. Both those facilities opened in 2001, costing a combined 25 million dollars. Greater Vernon Advisory Committee chair Mike Macnabb says they keep track of the various projects to make sure the debt load doesn't become too onerous. "So by staggering some of these projects over the years, you can respond to what the taxpayers are looking for, what the needs of the community are, and not have this huge tax burden come in at any one time," Macnabb tells Kiss FM. Borrowing for land acquisitions also form a large part of what residents are paying off. Directors were told debt repayment is costing the average Greater Vernon home $134.09 this year.
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All Outstanding Debt Issues : (In Date of Issue Order)
Financial Statements for the Year Ended December 31, 2011 (p.17)
The last 3 items are 20 year Terms not the 30 year Terms in the Financial Statements . (My opinion)
These are the outstanding debt issues for GVAC. As Taken from the financial statements on page 65 of Wednesday, June 6, 2012 - 4:00 pm - Regular Agenda
(Direct link to 2011 Financials s/b posted on RDNO website shortly!
Financial Statements for the Year Ended December 31, 2010
This is the Capital Borrowing that makes up the $7.5 million borrowed as approved by the 2006 Referendum. (Unexplained Diff 1040 million vs 1141 million ??)
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