Notice to Members – Special General Meeting – June 3, 2020
Kelowna & District Fish & Game Club is holding a Special General Meeting to present an Extraordinary Resolution to the membership. The meeting will be a virtual Zoom meeting on Wednesday June 3, 2020 at 7:00 pm. You have received this email as a member in good standing of the Kelowna & District Fish & Game Club, which qualifies you to vote on this resolution. Please indicate that you will attend the meeting by replying to this email stating your name and membership number by May 29. The meeting log in details will be sent to you shortly before the meeting. You will need to download and install the free Zoom app (link). The meeting will only have one item of business to be voted upon as well as a roll call of attendees and discussion of the resolution.
Be it resolved that the membership approve and instruct the KDFGC Board to proceed with a $40,000 loan from Interior Savings Credit Union under the Canada Emergency Business Account (CEBA) program.
As a result of the 2020 Covid-19 shutdown of some KDFGC activities, the Club has and will continue to experience lower revenue from events, hall and range rentals. The federal government has initiated the Canada Emergency Business Account (CEBA) loan program which the Club qualifies for. This would allow a loan of up to $40,000 for a two-year term at zero interest. If repaid in full by Dec 31, 2022, 25% of the loan amount is forgivable.
The CEBA program allows the funds to be used for:
“The funds from this loan shall only be used by the Borrower to pay non-deferrable operating expenses of the Borrower including, without limitation, payroll, rent, utilities, insurance, property tax and regularly scheduled debt service, and may not be used to fund any payments or expenses such as prepayment/refinancing of existing indebtedness, payments of dividends, distributions and increases in management compensation.”
KDFGC qualifies for this loan through our financial institution Interior Savings Credit Union.
Thank you for your participation
KDFGC Board of Directors