68.320 Borrowing in anticipation of current receipts.
The fiscal court may borrow money in anticipation of revenue receipts to meet the current <br>expenses of the county as they accrue, and to pay interest and principal on bonded debts. <br>Such current borrowing shall not exceed seventy-five percent (75%) of the unrealized and <br>unencumbered revenue estimated in the budget to be derived from a tax levy for the then <br>current fiscal year from which the principal of the borrowed money and the interest <br>thereon may be paid. Bonded debt duly authorized and incurred is not subject to the limit <br>imposed by this section.
Effective: October 1, 1942 <br>History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. sec. 938q-16.
68.320 Borrowing in anticipation of current receipts.
The fiscal court may borrow money in anticipation of revenue receipts to meet the current <br>expenses of the county as they accrue, and to pay interest and principal on bonded debts. <br>Such current borrowing shall not exceed seventy-five percent (75%) of the unrealized and <br>unencumbered revenue estimated in the budget to be derived from a tax levy for the then <br>current fiscal year from which the principal of the borrowed money and the interest <br>thereon may be paid. Bonded debt duly authorized and incurred is not subject to the limit <br>imposed by this section.
Effective: October 1, 1942 <br>History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. sec. 938q-16.
68.320 Borrowing in anticipation of current receipts.
The fiscal court may borrow money in anticipation of revenue receipts to meet the current <br>expenses of the county as they accrue, and to pay interest and principal on bonded debts. <br>Such current borrowing shall not exceed seventy-five percent (75%) of the unrealized and <br>unencumbered revenue estimated in the budget to be derived from a tax levy for the then <br>current fiscal year from which the principal of the borrowed money and the interest <br>thereon may be paid. Bonded debt duly authorized and incurred is not subject to the limit <br>imposed by this section.
Effective: October 1, 1942 <br>History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. sec. 938q-16.
