Part of doing business

Like most municipalities, they do it every year just in case.
McLennan town council unanimously agreed at its Jan. 10 meeting to pass a borrowing bylaw.
Otherwise called a line of credit at the bank, council does it just in case they need cash. By passing the bylaw at the start of the year, there is no rush for council to meet and pass the bylaw in case the need arises.
The line is credit is for $300,000.
“Although we haven’t used it for many years, we still maintain it,” said CAO Lorraine Willier after the meeting.

Share this post