Title 07 Finance
Chapter 07.10 Payment of Warrants – Line of Credit
Section 07.10.070 Non-arbitrage
The City will not invest any of the proceeds of the line of credit or make any use thereof in a manner that would cause the line of credit to be an “arbitrage bond” within the meaning of section 103(c) of the Internal Revenue Code of 1954, as amended, and applicable regulations promulgated thereunder.
Date Passed: Monday, May 7, 2007
Effective Date: Wednesday, June 20, 2007
Recodification ORD C34024 Section 1
