MattersFinanceBYLAW NO. 2231First seen Apr 19, 2021Last discussed Jul 21, 2025
Revenue anticipation borrowing bylaw
AdoptedThe bylaw authorizes short-term borrowing to help the city manage cash flow. It provides a way to cover timing gaps between expenses and incoming revenue.
Where it stands: Bylaw adopted July 21, 2025.
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.