255
In forceSecurities and guarantees
Part 13Finance and accountability
Division 4Borrowing
255 Securities and guarantees
(1)
In borrowing in accordance with this Division an Authority may—
(a)
issue bonds that are secured on its revenue; or
(b)
issue notes or any other securities that are approved by the Treasurer; or
(c)
mortgage its revenue.
S. 255(2) amended by Nos 99/1993 s. 23(5), 23/2022 s. 11(6).
(2)
In borrowing in accordance with this Division the Geelong and District Water Board, unless it is a relevant Authority, may issue inscribed stock.
(3)
The due repayment of any money borrowed by the issue of inscribed stock in accordance with subsection (2), and the payment of any interest on that money, is guaranteed by the Government of Victoria.
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