[HISTORY: Adopted by the Mayor and Council of the Borough of Riverdale 11-7-1983
by Ord. No. 13-83. Amendments noted where applicable.]
GENERAL REFERENCES
Funds — See Ch. 30.
The purpose of the within chapter is to provide the Mayor and Council
with information about the financial ramifications of a proposed bond ordinance.
The Mayor and Council shall not vote upon the introduction of a bond
ordinance until and unless it is in receipt of a financial impact statement
analyzing the ramifications of the proposed bond ordinance prepared by the
Municipal Auditor.
A financial impact statement shall contain the following information:
A.
Amount of outstanding principal of long-term debt.
B.
Amount of interest due on long-term
debt during the current fiscal year.
C.
Amount of outstanding principal on short-term debt.
D.
Amount of interest due on short-term debt during the
current fiscal year.
E.
Amount of all indebtedness authorized but not issued.
F.
Impact of proposed ordinance on long-term debt and short-term
debt, in terms of debt service and property taxes.
