The initial Borrowing Bylaws, advertised and subsequently given third reading (May, 2017) have been updated to reflect the lender name, Canadian Imperial Bank of Commerce, and the interest rates, prime less .25%. The amounts borrowed remain consistent with the original bylaws presented and advertised.
The amended bylaws come into force and effect upon third reading, and will repeal the following:
- Fire Hall Borrowing Bylaw: 791-2017, 769-16 and 771-16;
- Multi-use Facility Borrowing Bylaw: 792-2017, 770-16 and 772-16;
- Operating Line Borrowing Bylaw: 790-2017.