Sec. 110.511. - Short-term/interim financing of long term projects.

In addition to other uses allowed by law, Commercial Paper and Medium Term Notes may be utilized for the internal issuance of notes (i) for prompt, temporary, short-term funding of projects for which permanent long term bond financing has been authorized by the enactment of an authorizing bond ordinance specifying such projects, or (ii) for the issuance of variable rate notes to fund projects for which fixed rate notes will later be issued, or (iii) for the issuance of structural variable rate debt up to 30 percent of debt outstanding. (Ord. 2005-1373-E, § 3; Ord. 2015-483-E , § 1)