§ 2-304. Limits on repayment of loans or reimbursements from political contributions.

(a)

Loan limit for candidates for City Council . A candidate for City Council shall not use political contributions in an aggregate amount of more than twenty five thousand dollars ($25,000.00) during an election cycle to:

(1)

Repay a loan to his or her campaign account that the candidate has made from his or her personal assets;

(2)

Reimburse campaign expenditures made from personal funds; or

(3)

Repay a loan to the candidate or to any authorized committee of the candidate from any other person, persons, entity or entities.

The limit established by this section applies to the cumulative total from one (1) or all combined loans.

(b)

Loan limit for candidates for Mayor . A candidate for Mayor shall not use political contributions in an aggregate amount of more than fifty thousand dollars ($50,000.00) during an election cycle to:

(1)

Repay a loan to his or her campaign account that the candidate has made from his or her personal assets;

(2)

Reimburse campaign expenditures made from personal funds; or

(3)

Repay a loan to the candidate or to any authorized committee of the candidate from any other person, persons, entity or entities.

The limit established by this section applies to the cumulative total from one (1) or all combined loans.

(c)

A candidate cannot accept a loan made in cash.

(Ord. No. 2013-05-09-0317, § 1(Att. A), 5-9-13; Ord. No. 2018-06-21-0491 , § 1(Att. B), 6-21-18)