Town of Wynyard

TOWN OF WYNYARD NOTICE 2020 BORROWING BYLAW

January 23, 2020

TOWN OF WYNYARD
NOTICE
2020 BORROWING BYLAW

 As per the requirements of Town of Wynyard Bylaw #3/06, otherwise known as the Public Notice Bylaw, Section 3(3.1)(e), public notice is required to be given at least seven clear days before the topic of borrowing money, lending money or guaranteeing the repayment of a loan is discussed at a Council Meeting.

Please be advised that the Council for the Town of Wynyard will be putting forth Bylaw #1/20, otherwise known as the Borrowing Bylaw, at the regular meeting of Town Council which will take place on Thursday, February 6, 2020. The meeting begins at 7:00 PM in the Council Chambers located at 435 Bosworth Street.

Bylaw #1/20 allows Council, through the Mayor and Chief Administrative Officer, to access up to $500,000 to be used for Town purposes. This bylaw is implemented on a yearly basis and is used to create a “line of credit” which has historically been used to shore up funds, at the beginning of the financial year, before the property tax levy is issued.

Issued at the Town of Wynyard this 23rd day of January, 2020

Jason Chorneyko
Chief Administrative Officer

 

Last modified: January 23, 2020