10-1112.   Issuance of warrants and other evidences of indebtednessunlawful.Unless otherwise provided in this act, it shall be unlawful after May 1,1933, for the governing body of any municipality to create any indebtednessin excess of the amount of funds actually on hand in the treasury of suchmunicipality at the time for such purpose, or to authorize the issuance ofany order, warrant, or check, or other evidence of such indebtedness ofsuch municipality in excess of the funds actually on hand in the treasuryof such municipality at the time for such purpose.

      History:   L. 1933, ch. 319, § 12; March 31.