Question

What is the amount limit of loans issued in any year in anticipation of revenue?

A 5% x eqv.c
B debt limit minus existing debt
C 10,000,000
D no statutory limit
E none of the above

Answer 1

The answer is "None of the above"

Step-by-step explanation:

Reports on sales expectation will be released and may not be extended beyond this date within 30 days of end of the fiscal year in which they are issued.

Some grant contingency notes issued under such a Section may be negotiable or may exempt an local agency from loan or obligation in an annual cycle.

"Loan" requires, but is not restricted, loans from a local agency and no amount lent here under.