City Seeks 5 Million Dollar line of Credit

The City of Kenora may have millions of dollars socked away in reserves, but it doesn't have a lot of cash on hand.

That's forced city council to request a five million dollar line of credit.

Chair of the finance committee, Ron Lunny says this is the first time the
city has had to open a line of credit to pay off some of its outstanding bills.

Lunny says the city has traditionally kept between seven and ten million dollars in its checking account, but that's been depleted by a number of major projects going on in the city, including the new fire hall, the Paterson Medical Clinic and the downtown revitalization project.