MattersFinanceBylaw No. 2277First seen Mar 2, 2026Last discussed Mar 16, 2026
Revenue anticipation borrowing bylaw
AdoptedThe bylaw lets the City borrow up to $20 million temporarily to cover lawful expenses before annual tax revenue arrives. It provides cash-flow authority rather than a commitment to borrow; the City said it did not expect to use it.
Where it stands: Bylaw adopted Mar 16, 2026.
Background
Earlier and later steps of the same initiative.
Apr 4, 2022
2022 revenue anticipation borrowing
The bylaw would authorize the city to borrow up to $20 million against expected 2022 tax revenue. This provides short-term access to funds before tax revenue is collected; the record does not specify borrowing costs.
May 1, 2023 – May 8, 2023
Revenue anticipation borrowing bylaw
The bylaw authorizes the City to borrow up to $20 million temporarily to cover lawful expenses while awaiting revenue. Current-year taxes are to repay the borrowing when collected, and interest is payable at market rates.
Apr 2, 2024 – Apr 15, 2024
Revenue anticipation borrowing
The bylaw allows the City to borrow up to $20 million temporarily to cover expenses before property taxes arrive. Any borrowing is to be repaid from tax collections once received.
Timeline
Every time this matter appeared in council records, newest first.
Three readings given to annual short-term borrowing bylaw
Council gave readings to the annual revenue anticipation borrowing bylaw (standard housekeeping; not expected to be used).
Discussion
Routine housekeeping; Council noted the City historically does not draw on this authority and does not expect to need it this year.
Decision: Gave first, second and third readings to revenue anticipation borrowing bylaw.
Passed 4–0