The River City Roundup will go ahead this year after Edmonton city council voted Wednesday to put $100,000 in funding towards the fall event and have Northlands take over its operations.

The fate of the downtown cattle drive was in jeopardy after the volunteer co-chairs resigned last month. Bob Steadward and Jackie Rae Greening reportedly stepped down due to time constraints and a lack of clarity over funding.

The River City Roundup is held in tandem with the Northlands-run Canadian Finals Rodeo. Mayor Stephen Mandel hailed the CFR as one of the most important events of the year for Edmonton.

"If you ask the car dealerships, it is one of their biggest times of year," Mandel said. "It's a very important event and the whole idea of the River City Roundup was to help sustain it more."

The 2011 River City Roundup will have to operate within a $200,000 budget -- a number considerably lower than the $360,000 that was originally proposed.

Talks are underway to have Northlands continue running the event in future years.

The city is also asking the province to chip in cash for the event