This imitation board believes we do not have a say in the filtration plant because it is mandated by Island Health. We do have a say in the amount of money we are being committed to repay and the length of the loan. They seem to be under the impression that no matter the cost – it must be done. If it’s too expensive – they will have to scale it back or do it in phases.
We were advised March 2018 that UBID had $l.5 Million as a down payment towards the costs of the water filtration plant and borrowing up to $4 Million.
Now they claim to only have $1 Million and are planning on borrowing up to $4.5 Million over 25 years. We should not be considering 25 years for this loan according the the BC government who advises the length of the loan should not exceed 20 years.
So we’re putting less down and borrowing more over a longer period of time and all this is being done by individuals who have proven they cannot be trusted.
Almost a half million dollars more in interest $488,177.00 when the loan term is increased from 20 yrs to 25 yrs.
Then the board met unlawfully Jan. 17, 2019 and are planning on spending $4 Million on a Fire Hall. NOTE: “They” minus the Firechief looked at what Cumberland was planning so they knew then they were going to fire him.