Chapter 3.05
SHORT TERM OBLIGATIONS
Sections:
3.05.010 Title.
This chapter shall be entitled “short term obligations.” (Ord. 1943 § 1, 1982).
3.05.020 Issuance.
Subject to any applicable budget requirements, the city may borrow money and issue short term obligations as provided in Chapter 216 Laws of 1982 Regular Session. (Ord. 1943 § 2, 1982).
3.05.030 Authority to issue.
The issuance of short term obligations shall be authorized by ordinance of the city council as provided in Chapter 216 Laws of 1982 Regular Session for terms of maturity no greater than three years; provided, however, obligations issued in anticipation of the receipt of taxes shall be paid within six months from the end of the fiscal year in which they are issued. The issuance of short term obligations for terms of less than 60 days may be authorized by the finance director or his or her authorized deputy and countersigned by the city manager or mayor subject to ratification by the city council. (Ord. 2920 § 1, 2008; Ord. 1943 § 3, 1982).