§ 12.36.03. Payment.

Latest version.

As provided in A.C.A. § 14-78-103(d)(1), the annual debt service payments on the note in each fiscal year shall be charged against and paid from the general revenues of the city for such fiscal year. For the purpose of making the annual debt service payments, there is hereby, and shall be, appropriate to pay the note, and amount of general revenues of the city sufficient for such purposes. The city financial director is hereby authorized and directed to withdraw from the general fund of the city the amounts and at the times necessary to make the monthly debt service payments on the note.

( Ord. No. 2007-5, § 3 )

                    
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