Students denied the Simon Fraser Student Society (SFSS) board of directors the right to pursue a debenture regarding the Build SFU Student Union Building (SUB) and Stadium projects at their Special General Meeting (SGM) today.

The special resolution to approve the society’s pursuit of a loan to fund the Build SFU projects generated a lively debate. Many students expressed a wish to postpone making any decision on the matter and to put it to a referendum question in March.

The motion to postpone failed, and the meeting continued to address the issue of securing a debenture. A motion to vote by secret ballot also failed.

After almost an hour and a half of discussion, the debenture question was put to a vote. The special resolution ultimately failed, receiving only 65 per cent of votes in favour. It required 75 per cent to pass.

After the Build SFU motion did not pass, a large percentage of attendees exited the West Gym. The motion to disallow future SFSS boards from voting to discontinue the student levy also failed to pass.

The future of the Build SFU project will be under discussion at the next SFSS board of directors meeting.

As the meeting came to a close at 3:30 p.m., the remaining students voted in favour of recognizing Greek life organizations on campus.

This story is breaking. More information will be added as it develops.