C-19 - Cities and Towns Act

Section 468.45.9 Disposition versions

2008-06-12

468.45.9. The management board may borrow from the working fund pending the collection of revenues, or in order to pay all or part of an expense resulting from the implementation of a departure incentive program for the officers and employees of the management board or to pay a capital expenditure. The resolution authorizing the loan must specify the term of repayment, which may not exceed one year, five years or ten years, depending on the purpose of the loan

2008, c. 18, s. 24.