Wednesday, June 8, 2011

BC Government has (future) Contractual Obligations on the Sea to Sky Highway. We were told it wasn't a penny more than $600 million, but its actually $1.016 Billion and counting!

PROVINCE OF BRITISH COLUMBIA
PUBLIC ACCOUNTS 2008/09
CONTRACTUAL OBLIGATIONS—supplementary detail information—Continued
In Millions

Sea to Sky Highway P3..................... 76     51   52   51  51   735     1,016
Canada Line Rapid Transit (RAV)........ 11     19   19   19  19   501       588
Capital development agreements........... 606  229 187 116       1,138

(Shadow Tolls on Sea to Sky Highway P3 and the WR Bennett Bridge P3)

The above doesn't copy well from a pdf file and into a Blog/Website, but a photo?????, is sooooo much clearer.


Office of the Comptroller General - Public Accounts 2008 - 2009

http://www.fin.gov.bc.ca/ocg/pa/08_09/pa08_09.htm

Last item, at the bottom of the page, is:

Contractual Obligations - details of significant government contractual commitments, including service agreements, program delivery agreements, capital development agreements and operating and maintenance agreements.

Copy this link into your browser to see Contractual Obligations document:
http://www.fin.gov.bc.ca/ocg/pa/08_09/Contractual_Obligations.pdf

 

And before you leave, copy this into your browser as well:

coastal ferries services agreement

because I got curious about the over $8 billion owed by the government to Coast Ferries Services  AND the ensuing Amendments like this one:

In April 2003, the petitioner was transformed from a Crown Corporation into an independent, commercial organization under the Business Corporations Act, S.B.C 2002, c. 57. It is regulated by a 60 year binding agreement with the Province of British Columbia known as the Coastal Ferries Services Contract.

We all know what happened, maybe I shouldn't be saying We all know, because with the $6 million being paid out to Basi and Virk by the BC Liberal Government, We'll never know what happened at BC Rail.

However, we do know that BC Rail was sold off for 990 years.

 

Does the Contractual Obligation for Coastal Ferries initial 60 year have a clause that puts it on the same footing as BC Rail?


The Contract mandates an annual customer satisfaction tracking survey to measure and monitor customer needs and interests, including the overall safety of the operations.

Shadow tolled highways have a similar type of wording, one that is designed to ensure that the road is always open for business.

No comments: