78
CurrentBorrowings
Part 8Financial Management
Division 2Borrowings
78 Borrowings
A council, for the purpose of raising a loan or obtaining any form of financial accommodation, may decide by an absolute majority to provide any of the following forms of security:debentures; bills of sale, mortgages or other charges; inscribed stock; guarantees; any other document evidencing indebtedness other than bearer instruments.
A council may not raise a loan in any financial year exceeding any amount the Treasurer determines for that financial year.
In this section, loan includes any financing arrangement as determined by the Treasurer.
This Act’s bill:Explanatory notesSecond reading speech
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