Section 45-8A-23.187 Borrowing to meet emergency appropriations. - Alabama Statutes

Section 45-8A-23.187

Borrowing to meet emergency appropriations.

In the absence of unappropriated available revenues to meet emergency appropriations under the provisions of Section 45-8A-23.186, the council may by resolution authorize the issuance of notes, each of which shall be designated "emergency note" and may be renewed from time to time, but all such notes of any fiscal year and any renewals thereof shall be paid not later than the last day of the fiscal year next succeeding the budget year in which the emergency appropriation was made.

(Acts 1953, No. 404, p. 472, §6.18.)