Pub. L. 93-198, tit. IV, pt. E, subpt. 2, sec. 472

borrowing in anticipation of revenues

EnactedYear: 1973Length: 114 wordsOfficial source
borrowing in anticipation of revenues Sec. 472. For any fiscal year, in anticipation of the collect ion or receipt of revenues of that fiscal year, the Council may by act authorize the borrowing of money by the execution of negotiable notes of the District, not to exceed in the aggregate at any time outstanding 20 per centum of the total anticipated revenue, each of which shall be designated “Revenue Note for the Fiscal Year 19__”. Such notes may be renewed from time to time, hut all such notes, together with the renewals, shall mature and be paid not later than the end of the fiscal year for which the original notes have been issued.
Pub. L. 93-198, tit. IV, pt. E, subpt. 2, sec. 472: borrowing in anticipation of revenues | Justis AI