Tuesday, November 18, 2014

Moose Jaw Times-Herald: Looking for cheaper way to borrow money

Coun. Brian Swanson speaks to his motion to
submit a resolution to SUMA for the province
to make provision, and lobby the federal
government to follow suit, for municipalities
to issue tax-free municipal infrastructure
bonds at the Nov. 17, 2014 council meeting.
Times-Herald photo by Lisa Goudy

By Lisa Goudy

Coun. Brian Swanson would like to see as low of city borrowing costs as possible.

On Monday, he proposed a potential way to do this, as has been done in the United States and has come up from time to time in Canada – allowing municipalities to issue tax-free municipal infrastructure bonds.

He made a motion at council for the City of Moose Jaw to submit a resolution to the 2015 Saskatchewan Urban Municipalities Association (SUMA) convention for the Saskatchewan government to make provision for allowing that to happen and to lobby the federal government to do the same thing.

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