TITLE 39. PUBLIC FINANCE

SUBTITLE II. LOCAL FINANCE

CHAPTER 4. BONDED INDEBTEDNESS AND SPECIAL TAXES

PART VII. FEDERAL LOANS

 

39:821     Subdivisions;  power to borrow

In addition to the authority to borrow money or incur indebtedness provided by any act or statute, political subdivisions may borrow money from any governmental agency of the United States or may borrow money from any other source provided said loan is insured, indorsed, or guaranteed by any governmental agency of the United States, for any purpose for which any loan to any subdivision is authorized by any act of Congress now in existence or hereafter enacted, or by any agency of the United States acting under any such act.  Provided further, that this Section shall not be deemed the exclusive authority under which political subdivisions may borrow money or incur indebtedness and in no manner prohibits or limits the right of political subdivisions to borrow money or incur indebtedness under the provisions of any other act or statute.

 

Amended by Acts 1964, No. 59, ยง 1.