Sec. 7-302 LIMITATIONS ON BORROWING.

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Flint, MI Code of Ordinances

CITY OF FLINT, MICHIGAN CODE OF ORDINANCES

PART I. CHARTER

PART II. THE CODE OF ORDINANCES

PART III: PARALLEL REFERENCES AND INDEX

Sec. 7-302 LIMITATIONS ON BORROWING.

The net bonded indebtedness for general obligations of the City shall not exceed seven percent (7%) of the assessed valuation. No obligation shall be sold to obtain funds for any purpose or purposes other than that for which those obligations were specifically authorized.

(Adopted by the electorate, 11-5-1974)

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