10-1112. Issuance of warrants and other evidences of indebtedness unlawful.
10-1112
10-1112. Issuance of warrants and other evidences of indebtedness
unlawful.
Unless otherwise provided in this act, it shall be unlawful after May 1,
1933, for the governing body of any municipality to create any indebtedness
in excess of the amount of funds actually on hand in the treasury of such
municipality at the time for such purpose, or to authorize the issuance of
any order, warrant, or check, or other evidence of such indebtedness of
such municipality in excess of the funds actually on hand in the treasury
of such municipality at the time for such purpose.
History: L. 1933, ch. 319, § 12; March 31.