13-19-3. Borrowing limit reduced by outstanding warrants or notes.
49 words·~1 min read·
/sd/title-13/chapter-13-19/13-19-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In case any registered warrants or promissory notes are outstanding against the fund for which the money is to be borrowed, the borrowing limit as specified in § 13-19-2 shall be reduced by the amount of such warrants or promissory notes outstanding at the time the money is borrowed.