Assessing our financial situation

The forum is to discuss the option to look into a borrowing scenario for RELC. The motion is as follows:

WHEREAS Section 45 of the Riverport Electric Light Act provides that,

subject to approval by the membership, the Commission may borrow

up to one million dollars ($1,000,000) for capital purposes through any

financial mechanism including borrowing from a commercial lending

institution or from a municipal, provincial or federal government or

agency; and,

WHEREAS the Commission has incurred or plans to incur significant

capital costs in relation to necessary infrastructure improvement, which

cannot be financed from operations;

THEREFORE BE IT RESOLVED that under the authority of the Riverport

Electric Light Act the Riverport Electric Light Commission borrow a

sum or sums not exceeding one million dollars ($1,000,000) for a period

not exceeding ten (10) years for the purpose of necessary capital

improvement to the utility’s infrastructure.

At the July 23 2025 Special meeting this Resolution was deferred