Policy C03-027 - Borrowing for Capital Projects

The purpose of this policy is to provide a method of financing municipal capital projects for which sufficient funds are not otherwise available in existing reserves through external sources. It is also intended to recover all or part of the capital costs from future operating revenues and would be equitable to extend the capital financing to future users. The policy defines external debt, internal debt, municipal debt limit, productivity improvements, tax supported debt, utility debt, debt financing costs, and controlled corporation. The policy outlines guidelines and responsibilities of city positions.