The city of Oakville sold some buildings and used the proceeds to improve its financial position. The city then leased the buildings back in order to continue to use these facilities. This is an example of:

Question

Quizplus · Accepted Answer

This is an example of a sale and leaseback arrangement, where the city sells the property and then leases it back from the new owner to continue using it, typically to free up capital or improve financial statements.

The City of Oakville Sold Some Buildings and Used the Proceeds