In any budget year, in anticipation of the collection or receipt of revenues of the budget year, the council may by resolution authorize the borrowing of money by the issuance of negotiable notes of the city, each of which shall be designated revenue note for the year 2__ (stating the budget year). Such notes may be renewed from time to time; but all such notes, together with the renewals thereof, shall mature and be paid not later than the end of the fiscal year after the budget year in which the original notes have been issued. Such borrowing shall be subject to any limitation on amount provided by statute.
Structure Code of Alabama
Chapter 37A - Jefferson County Municipalities.
Part 6 - Department of Finance.
Section 45-37A-52.160 - Director of Finance - Appointment.
Section 45-37A-52.161 - Director of Finance - Qualifications.
Section 45-37A-52.162 - Director of Finance - Surety Bond.
Section 45-37A-52.163 - Director of Finance - Powers and Duties.
Section 45-37A-52.164 - When Contracts and Expenditures Prohibited.
Section 45-37A-52.165 - Fees to Be Paid to City Government.
Section 45-37A-52.166 - Division of Purchases.
Section 45-37A-52.167 - Competitive Bidding.
Section 45-37A-52.168 - Contracts for City Improvements.
Section 45-37A-52.169 - Accounting Control of Purchases.
Section 45-37A-52.170 - Borrowing in Anticipation of Revenues.