The City of Grande Prairie passed a new bylaw this week that allows them to have a revolving $35 million line of credit for operating expenditure requirements.

Bylaw C-1424 has been created in line with Section 256 of the Municipal Government Act of the province of Alberta. 

This line of credit is available until December 31 of this year. The source of money to be used to repay the money borrowed is the taxes and penalties on taxes assessed and/or levied by the City during the borrowing period.

This line of credit is to help with the current COVID-19 situation.