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File #: O21-4068    Version: 1 Name:
Type: Report Status: Passed
File created: 1/5/2021 In control: Township Council
On agenda: 1/11/2021 Final action: 1/11/2021
Title: 2021 Revenue Anticipation Borrowing Bylaw Bylaw No. 5683 Report 20-166 File FIN 3900-25
Attachments: 1. I.1 fin Revenue Anticipation Borrowing Bylaw

Title

2021 Revenue Anticipation Borrowing Bylaw

Bylaw No. 5683

Report 20-166

File FIN 3900-25

Recommended Action

That Council give final reading to “2021 Revenue Anticipation Borrowing Bylaw 2020 No. 5683”.

 

 

 

 

 

 

 

Explanation - Bylaw No. 5683

 

The purpose of Bylaw 2020 No. 5683 is to provide authorization to borrow funds between January 1, 2021 and December 31, 2021.  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.