The Town Council may, by subsequent ordinance (each "Warrant Ordinance"), authorize temporary loans in anticipation of current revenues of the Town levied and in the course of collection for the fiscal year in which such loans are made. A Warrant Ordinance authorizing loans under Section 2-371 must appropriate and pledge to their payment a sufficient amount of the revenues in anticipation of which such loans are issued and out of which they are payable. The loans must be evidenced by time warrants of the Town in terms designating the nature of the consideration, the time and place payable, and the revenues in anticipation of which such warrants are issued and out of which they are payable.
(Ord. No. 1117, § 2, 6-14-89)