At Tuesday evening’s executive meeting the Club’s expansion/renovation costs were discussed. Due to the amounts of financial donations not being as we had anticipated, the Club will be required to open a line of credit with the RBC so as to pay in full the Club’s outstanding debts.
One of the requirements stated by the RBC is that the Chedabucto Curling Club must place its facility as collateral as one of the bank’s requirements for a line of credit to be established. We must agree to do so by a resolution passed via a general meeting of our membership thus the need to have such a meeting this Thursday, November 30, at 6:30 PM at the Club
The only item on the agenda of this Thursday’s general meeting will be a discussion of the Chedabucto Curling Club’s debts regarding the ongoing renovation/expansion with the hope that permission will be granted for the curling club’s property to be used as the collateral for the establishment of a line of credit so as to complete the expansion/renovations of our facility.
The executive’s decision was to have this general meeting in conjunction with our registration on Thursday evening and to have the general meeting start at 6:30 PM so as to enable its need to be dealt with and then the balance of the time can be devoted to membership registration and open house.