§ 105. Borrowing in anticipation of property taxes.

Latest version.

In any tax year, in anticipation of the collection of the ad valorem property tax for such year, whether levied or to be levied in such 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 "tax anticipation note for the ________" (stating the tax year). Such notes shall mature and be payable not later than the end of the tax year in which issued, and may be secured by the pledge of the ad valorem property taxes for such year.

(Ord. No. 85965, § 1 (Prop. 1), 5-5-97; Ord. No. 2015-05-20-0423 , § 3 (Prop. 4), 5-20-15)

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');