REVENUE ANTICIPATION BORROWING (2025) BYLAW NO. 10632

Council shall be and is hereby empowered and authorized to borrow upon the credit of the City, from a financial institution, a sum not exceeding $21,500,000 at such times as may be required. 2. The form of obligation to be given as acknowledgement of the liability shall be $15,000,000 in the form of standby letters of credit, demand promissory notes or bank overdraft, $4,500,000 in the form ofleasing lines of credit, and $2,000,000 in the form of commercial credit card facility.

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