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File #: O18-1814    Version: 1 Name:
Type: Report Status: Up for Final Adoption
File created: 11/28/2018 In control: Township Council
On agenda: 12/3/2018 Final action:
Title: 2019 Revenue Anticipation Borrowing Bylaw Bylaw No. 5437 Report 18-159 File FIN 3900-25
Attachments: 1. G.1 fin Revenue Anticipation Borrowing Bylaw.pdf

Title

2019 Revenue Anticipation Borrowing Bylaw

Bylaw No. 5437

Report 18-159

File FIN 3900-25

Recommended Action

That Council give first, second, and third reading to
2019 Revenue Anticipation Borrowing Bylaw 2018 No. 5437.

 

Explanation - Bylaw No. 5437

 

The purpose of Bylaw 2018 No. 5437 is to provide authorization to borrow funds between January 1, 2019 and December 31, 2019.  As the Municipality does not receive property taxation revenue until tax collection time (May to late June), it may be necessary to borrow funds to meet the lawful expenditures of the Township and to pay amounts required to meet the Township’s taxing obligations in relation to other public bodies.