Abbotsford council to vote on wording of P3 water referendum
The wording of the P3 water referendum that will be on the ballot in the Nov. 19th municipal election will go before Abbotsford council for approval on Monday.
The referendum question up for approval is worded as follows:
"Are you in favour of the City of Abbotsford developing a new water supply source at Stave Lake (consisting of a water intake in Stave Lake, a pump station, a water treatment plant and a water transmission line from Stave Lake to the City of Abbotsford) to ensure that the current and long term needs of the City of Abbotsford are met by:
"the city entering into a partnering agreement with a private sector partner that will design, build, partially finance and operate a water supply and distribution system from Stave Lake for up to thirty years, incurring a maximum capital cost and liability to the city of $291,000,000 of which up to $61,000,000 will be paid for through a federal contribution; and
"Abbotsford City Council adopting bylaw No. 2105-2011 'Stave Lake Water System Loan Authorization Bylaw, 2011' to authorize the borrowing by the City of the remaining $230,000,000 for up to to thirty years, for the capital cost of constructing the water supply and distribution system from Stave Lake?"
Watch abbynews.com for more details.