§ 106. Borrowing in anticipation of other revenues.

In any tax year, in anticipation of the collection or receipt of other revenues of that 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 "special revenue note for the year ________" (stating the tax year). Such notes may be renewed from time to time, but all such notes, together with the renewals shall mature and be payable not later than the end of the tax year in which issued, and may be secured by pledge of such other revenues for such year.

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