Chapter 3.26
LOANING FUNDS

Sections:

3.26.010    Rate—Payment.

3.26.010 Rate—Payment.

Any funds loaned by authority of the city council from one department to another during the budget year shall be loaned for a period not to exceed three years and shall bear interest at the prevailing rate charged by the Franklin County auditor on interest-bearing warrants at the date such loan was made. The funds shall be repaid to the loaning fund, in a lump sum or by installments, together with such interest computed to date of payment. (Ord. 370 § 1, 1974).