New South Wales Consolidated Regulations
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LOCAL GOVERNMENT (GENERAL) REGULATION 2005 - REG 229
Loans to council to be charge on the council’s income
229 Loans to council to be charge on the council’s income
The repayment of
money borrowed by a council (whether by way of overdraft or otherwise), and
the payment of any interest on that money, is a charge on the income of the
council.
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