§ 714.
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/vt/714A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 714. Credit of the City for current expenses
The money raised by taxation and from fines and other lawful sources, including tax increments in excess of sums necessary to pay and secure the City’s tax increment obligations and the costs of managing the City’s tax increment financing district, shall constitute the entire sum from which appropriations and payments are to be made, according to law, by or under the authority of the City Council. The credit of the City may be pledged by the City Council for the purpose of raising funds to meet the current expenses of the City. Such loans shall be paid on or before one year from date thereof. (Added 2013, No. M-9, § 3, eff. June 4, 2013.)