§ 5.08.020. Authorization to incur indebtedness.

Latest version.

The borough school district is authorized to incur indebtedness on behalf of the borough in accordance with this section. The borough school district may incur debt under this section only for the purpose of paying for equipment as described in AS 14.14.060 and only following approval of such debt by both the school board and by resolution of the borough assembly. Any debt incurred by the borough school district under this section shall be payable solely from the revenues or other sources described in the approving resolution of the borough assembly.

(Ord. No. 2001-35, § 1, 10-23-01)

                    
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