§ 120630 Board Revenue Bond Authority

• •The board can borrow money (called 'bonds') to build or buy things like buildings or projects.
• •The money to pay back these bonds comes from the money made by whatever they built or bought.
• •The rules for how they do this are the same as the rules in the 'Revenue Bond Law of 1941'.

A city wants to build a new parking garage but doesn't have enough money right now.

The city can borrow money by selling bonds. They will pay back the money using the fees people pay to park in the garage. The rules for how they borrow and pay back the money are the same as the rules in the 'Revenue Bond Law of 1941'.