Sec. 110.506. - City council appropriation required.

Expenditures made using borrowed funds shall require City Council appropriation as part of the annual City budget process or as approved by subsequent ordinance and or amendment thereto. Each borrowing shall be supported by an itemized list of projects being financed. Within 60 days of each borrowing closing, a report with the amount borrowed, the interest rate of the borrowing and the list of projects funded by the borrowing shall be prepared and submitted to the Finance Committee Chair. (Ord. 2005-1373-E, § 3; Ord. 2012-143-E, § 1; Ord. 2015-483-E , § 1)