Doug Holyday wants a review of who councillors can borrow cash from.

This comes after the CBC reported councillor Giorgio Mammoliti took $275, 000 in loans from real estate developers whom he helped score the right to put up billboards along the 401 a few years before.

Mammoliti says the loans were taken out by his ex-wife's company & as far as he knows have been repaid.  He insists the transactions have nothing to do with his political life.

While the loans appear to be legal, they don't sit right with the deputy mayor. Doug Holyday tells Newstalk 1010 "to get a loan from someone that does business with the city and you're sitting in on decisions that involve them, certainly sends the wrong optics."

Holyday isn't sure who should look into this though.  He said the province could take charge under the Conflict of Interest Act or it could fall to Toronto's Integrity Commissioner.

Commissioner Janet Leiper doesn't comment on potential or pending investigations.

Policy says a probe is triggered by a complaint from a member of the public or from council. Before diving in, the commissioner's office has to make sure they have jurisdiction.