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MattersFinanceBylaw No. 1627First seen Apr 4, 2016Last discussed Apr 18, 2016

Revenue anticipation borrowing bylaw

Adopted

The bylaw lets the city borrow up to $10 million temporarily to pay current expenses before property tax revenue arrives. Current-year tax collections are used to repay the borrowing.

Where it stands: Bylaw adopted Apr 18, 2016.

Timeline

Every time this matter appeared in council records, newest first.

  1. April 18, 2016· Council

    Revenue anticipation borrowing bylaw adopted

    Adopted

    Final approval. The bylaw is now in force.

  2. April 4, 2016· Council

    First, second and third readings given to borrowing bylaw

    Passed

    Council approved the content and final wording. Adoption is the last step.

  3. April 4, 2016· Council

    Staff explain temporary borrowing for cash-flow needs

    Council agreed to consider three readings to Bylaw No. 1627 authorizing temporary borrowing to cover cash-flow until taxes are collected.

    Decision: Considered three readings of Bylaw No. 1627.

    Passed

    Documents