MattersFinanceBYLAW NO. 2129First seen May 1, 2023Last discussed May 8, 2023
Revenue anticipation borrowing bylaw
AdoptedThe 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.
Where it stands: Bylaw adopted May 8, 2023.
Background
Earlier and later steps of the same initiative.
Apr 19, 2021 – Jul 21, 2025
Revenue anticipation borrowing bylaw
The 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.
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.
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.
Mar 3, 2026 – Mar 16, 2026
Revenue anticipation borrowing bylaw
The 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.
Timeline
Every time this matter appeared in council records, newest first.