Town of Grimsby Finance Committee Agenda November 2025
2026 temporary borrowing authority with TD Canada Trust
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Description
The Finance Committee is asked to endorse a 2026 temporary borrowing by-law allowing the Town to borrow up to $15.3 million for current expenditures through its banking relationship with TD Canada Trust. The by-law also supports the existing $2 million operating line of credit.
Contract Details
Contract Amount
Borrowing limit $15,300,000; operating line of credit up to $2,000,000
Vendor
TD CANADA TRUST
Agency
Town of Grimsby, Canada
Contract Type
FINANCIAL_SERVICES
Document Date
November 27, 2025
Contract Term
For 2026 fiscal year current expenditures
Renewal Date
2026-12-31
Renewal Info
Annual temporary borrowing by-law required by Municipal Act and TD Canada Trust, with an updated borrower by-law to be provided within 120 days of fiscal year end.
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