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The term of the loan may continue over a period of up to two years, except for loans made with a source of repayment that fully amortizes the loan over its life, in which case the maturity can be up to five years. Loans must be temporary in the sense that no permanent diversion of funds from the lending fund results from the failure to repay by the borrowing fund. Loans that need to be renewed due to nonpayment of principle should be reviewed for appropriateness of the primary source of repayment and, if determined to be insufficient, a new source of repayment should be substituted.

(Ord. 2017-55 § 1 (part), 2017)