Presidential Decrees1 min read
Section 35May 25, 1973, Sec./Art. 35
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Negotiable Promissory Notes. - A district may issue negotiable promissory notes with a maturity of not later than two years from the date thereof. The total aggregate amount of such notes outstanding at any one time shall not exceed 20% of the annual gross revenues of the district payable from all revenue sources thereof.
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