Borrowing power

Checkout our iOS App for a better way to browser and research.

    (a)    (1)    The County Commissioners may loan money to the Liquor Control Board to provide the Liquor Control Board with adequate working capital to acquire, establish, and operate the dispensary system and warehouse facilities.

        (2)    The County Commissioners may finance a loan under this subsection by issuing notes, certificates of indebtedness, or bonds as the County Commissioners find necessary.

    (b)    (1)    Subject to paragraph (2) of this subsection, the Liquor Control Board may borrow money from a banking institution on the Liquor Control Board’s own credit.

        (2)    The aggregate sum loaned to or borrowed by the Liquor Control Board may not exceed $150,000.


Download our app to see the most-to-date content.