RTA · Municipal Government Act
Part 8 — Financial Administration
259 Capital property - interim financing
of temporarily financing a capital property for which a borrowing
bylaw has been passed under section 258.
(2) The term of the borrowing must not exceed 5 years.
RSA 2000
(3) The amount borrowed must not exceed the
(a) amount of the expenditures in the budget for that and
previous calendar years to acquire, construct or improve the
capital property,
minus
(b) any money received for the capital property from any other
source, including previous borrowings under this Part.
(4) A borrowing bylaw that authorizes the borrowing referred to in
subsection (1) does not have to be advertised.
(5) Section 257 does not apply to a borrowing referred to in
subsection (1).
1994 cM-26.1 s259;1996 c30 s16