A borrowing bylaw is municipal legislation that authorizes the municipality to borrow money for specific purposes, typically major capital projects. The bylaw specifies the amount to be borrowed, the purpose, repayment terms, and funding source for debt payments. Council must pass a borrowing bylaw before the municipality can issue debentures or take loans for the identified project. Some borrowing bylaws require provincial approval before taking effect. Public notice and sometimes public votes are required for borrowing above certain thresholds. The bylaw process ensures transparency and council accountability for municipal debt decisions.