By Tom Mark

RDNO Set to Pay Back Borrowed Funds

Jan 19, 2018 | 7:16 AM

The Regional District of North Okanagan has now adopted a bylaw allowing it to pay for its share of of the purchase of the North Okanagan/Shuswap Rail Trail.

Temporary borrowing of funds was done in December.

The bylaw approves issuing a security to pay that back.

Once the long term debt is issued in the spring, the temporary borrowing will be repaid.

The District is giving the Columbia-Shuswap Regional District an award for its cooperation in making the purchase happen.

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“You know it was a complicated sort of negotiation process that brought in partners to support it that you might not of ordinarily thought would participate, in other words they`re not immediately adjacent to the line.”

RDNO Board Chair Bob Fleming says that includes communities like Salmon Arm , Revelstoke and Lumby.

Fleming says says it could only be achieved through partnership with other communities.

“Within our area, RDNO, the partnership included Armstrong, Spallumcheen, Enderby, Area F, Area D – that’s rural Lumby and Lumby.”

Those communities will pay their portion through taxation.

The Columbia-Shuswap Regional District has it’s own repayment method.

The Splatsin are also involved in the trail project.

Bob Fleming says now, as soon as possible, the partners need to get together and start looking at a format discussing how the trail gets used.

That includes how development of the trail gets funding.

by Tom Mark