A. Loans to a candidate or to the candidate’s controlled committee, whether made by a commercial lending institution in the regular course of business on the same terms available to members of the public, or personal loans, shall not exceed totaling more than $4,900 for any single election. Adjustment to the contribution limits in January of odd numbered years per the consumer price index, rounded to the nearest $100.
B. Loans from different lending sources will be aggregated in accordance with Section 2-1-9-2 (Aggregation of Contributions) for purpose of determining compliance with this section.
C. Any loan amount in excess or in violation of the applicable limitations established by this section received by any candidate or a candidate’s controlled committee shall be returned or paid in full to the lender within thirty (30) days of the candidate or candidate’s controlled committee’s receipt of the excess loan.
D. The limitation of this section shall not apply candidates making personal loans to their controlled committee on behalf of his or her own candidacy, but shall apply to contributions made from a candidate’s spouse. (Ord. 22-1063)