Sec. 110.509. - Use of borrowed cash.

The Director of the Finance Department may use any cash which has been authorized to be spent on projects approved for funding to cover cash needs in other projects within Council appropriated project budgets to effectively manage cash and ensure that the use of borrowed funds complies with tax exempt borrowing provisions contained in Internal Revenue Code. In any applicable quarter, the Finance Department shall submit a report to the Finance Committee of all cash transfers between projects over the last quarter, and proposed and anticipated cash transfers over the subsequent quarter. (Ord. 2005-1373-E, § 3; Ord. 2015-450-E , § 1; Ord. 2015-483-E , § 1; Ord. 2025-434-E , § 1) Editor's note— Ordinance 2007-839-E, § 18, authorized updated department/division names pursuant to reorganization.