Indiana Code 36-8-7-24. Temporary loans; authorization and procedure
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Indiana Code 36-8-7-24
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
Sec. 24. The local board may, by resolution, authorize temporary loans to be made and effected in anticipation of current revenues of the unit actually levied and in the course of collection for the fiscal year in which the loans are made. The fiscal body of the unit shall by ordinance authorize the temporary loans and the issuance and sale of securities for them in the same manner as prescribed for the unit generally in making temporary loans.
[Pre-Local Government Recodification Citation: 19-1-37-27 part.]
As added by Acts 1981, P.L.309, SEC.57.