Spokane Valley Washington Form 8821 2021-2025

Spokane Valley Washington Form 8821: What You Should Know

Ordinance No. 74. C.O. No. 74 requires the City Council to adopt an ordinance to repeal O.C.G.A. § 54-1717A or to authorize the borrowing of money in furtherance of the general local governmental purposes.  O.C.G.A. § 54-1717A: Borrowing money prohibited No local government shall borrow money except in the following manner: (a) On or before the date of the annual meeting of the City council of such city; or (b) In such manner as to be entered in the records of such city at such time as such treasurer shall certify that the amount specified in [subsection (b) of this] section shall have been paid or is outstanding and in accordance with all applicable laws, rules and regulations. In addition, such money shall be used only to pay the principal and interest on all bonds authorized by law, to pay expenditures for which appropriations are made and to pay judgments.  The expenditure of money is not limited when in the interest of the general local governmental purposes. It is not necessary that any specific amount be borrowed or spent. In such manner as to be entered in the records of such city at such time as such treasurer shall certify that the amount specified in [subsection (b) of this] section shall have been paid or is outstanding and in accordance with all applicable laws, rules, and regulations; in addition, such money shall be used only for any specific purposes designated in law or rule for which appropriations are made or which in the judgment of the local government manager are appropriate. The local government manager should not make any appropriations of money to such city other than for the specific purposes. (d) The treasurer of such city shall certify in writing each time the amount specified in [section] 54-1717A is paid or is outstanding that the payment was made in the manner and under the conditions prescribed by the local government manager.

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