10-6-132 - Loans by one fund to another -- Acquiring bonds for investment.
10-6-132. Loans by one fund to another -- Acquiring bonds for investment.
Subject to restrictions imposed by bond ordinance, statute or other controlling regulations,the governing body of a city may (1) authorize interfund loans from one fund to another at suchinterest rates and upon such repayment terms and conditions as it may prescribe, and (2) withavailable cash in any fund, purchase or otherwise acquire for investment unmatured bonds of thecity or of any fund of the city.
Enacted by Chapter 26, 1979 General Session