Title 07 Finance
Chapter 07.10 Payment of Warrants – Line of Credit
Section 07.10.050 City Funds Pledged
The general fund of the City is pledged to pay the principal of and interest on amounts determined to be extended on the line of credit. Accordingly, the full faith and credit of the City is pledged for the payment of the amounts determined to be extended on the line of credit, within the appropriate constitutional and statutory limitations of nonvoted bonds.
Date Passed: Monday, May 7, 2007
Effective Date: Wednesday, June 20, 2007
Recodification ORD C34024 Section 1
Section 07.10.050 City Funds Pledged
The general fund of the City is pledged to pay the principal of and interest on amounts determined to be extended on the line of credit. Accordingly, the full faith and credit of the City is pledged for the payment of the amounts determined to be extended on the line of credit, within the appropriate constitutional and statutory limitations of nonvoted bonds.
Date Passed: Monday, May 7, 2007
Effective Date: Wednesday, June 20, 2007
Recodification ORD C34024 Section 1
