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  • PART I ADMINISTRATION OF THE GOVERNMENT
  • TITLE VII CITIES, TOWNS AND DISTRICTS
  • CHAPTER 44 MUNICIPAL FINANCE
  • Section 28 Report to director of accounts required

Section 28. Whenever a city, town or district votes to authorize the incurrence of indebtedness, the city, town or district clerk, as the case may be, shall, within forty-eight hours after the vote becomes effective, furnish to the director a copy thereof; and whenever a loan is issued by a city, the city treasurer shall notify the director of the amount and purpose of the loan, and shall state whether it be in the form of bonds or notes; and whenever a loan is issued by a town or district in the form of bonds, the treasurer thereof shall notify the director of the amount and purpose thereof. City, town and district treasurers shall also furnish the director, upon request, with any other information in respect to the authorization and issue of loans, which he may require to enable him to keep a complete and accurate record of indebtedness authorized or incurred by cities, towns and districts.