REVENUE ANTICIPATION BORROWING (2023) BYLAW NO. 10445

The City's Credit Facility Agreement $15,000,000 Standby Letters of Credits/Demand Promissory Notes/Bank Overdraft • The purpose of the operating line of credit is to ensure that the City has a secondary source of credit in place to protect its bank accounts from the unlikely event of going into an overdraft position. • Staff regularly monitor the City's cash flow position to prevent the possibility of having to draw down on the credit facility. The credit facility has never been utilized by the City. $4,500,000 Leasing Lines of Credit • The purpose of the leasing lines of credit is to ensure that a leasing facility is available in the event it is required. $2,000,000 Commercial Credit Card Facility • The purpose of the commercial credit card facility is to provide a convenient and cost- effective method of procuring and paying for low value goods and services.

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