Loading...
ARTICLE VII. CITY BORROWING
Section 7.01 AUTHORITY TO BORROW.
   The council may borrow money, contract loans, and issue notes and bonds as may be authorized by state law.
(Ord. 92-28, passed 9-17-92) (Adopted by electorate 11-3-92)
Section 7.02 BOND ISSUES.
   (a)   The council may authorize the issuance of bonds and notes by resolution or ordinance, or if required by the Constitution of the state of Florida by affirmative vote of the electors of Palm Bay, to finance approved city projects.
   (b)   The council shall approve the terms and manner of sale and distribution or other disposition of any and all notes and bonds it may issue and it shall have any and all powers necessary or convenient to such disposition.
(Ord. 92-28, passed 9-17-92) (Adopted by electorate 11-3-92)
Section 7.03 SINKING FUNDS.
   The council may establish and administer appropriate sinking funds for the satisfaction of any outstanding indebtedness of the city.
(Ord. 92-28, passed 9-17-92) (Adopted by electorate 11-3-92)
ARTICLE VIII. PUBLIC SAFETY
Section 8.01 POLICE DEPARTMENT.
   There shall be a police department.
(Ord. 92-28, passed 9-17-92) (Adopted by electorate 11-3-92)
Loading...