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<br />be authorized to si~n or countersi~n in addition to or in the absence of the <br />director of finance. his deputy. or the city mana~er. <br /> <br />EXPLANATION: Section 77 provides that all checks, vouchers and warrants be <br />signed by the director of finance or his deputy and countersigned by the city <br />manager. The amendment authorizes the city council to designate other authorized <br />signatories for maximum efficiency of financial operations. <br /> <br />PROPOSITION 48 (Part 1): <br /> <br />Section 79. Borrowing in anticipation of property taxes. <br /> <br />In any fiscal year, in anticipation of the collection of the property tax for such year, <br />whether levied or to be levied in such year, the council may by resolution authorize <br />the borrowing of money by the issuance of negotiable notes of the city, each of which <br />shall be designated <br /> <br />"tax antieipatioR Rote for the year 19_" (stating the budget year). <br />"tax anticipation note for the vear 20 " (statim! the bud~et year). <br /> <br />Such notes shall mature and be payable not later than the end of the fiscal year in <br />which the original notes have been issued. <br /> <br />EXPLANATION: Update the year into the 2is/century. <br /> <br />PROPOSITION 48 (Part 2): <br /> <br />Section 80. Borrowing in anticipation of other revenues. <br /> <br />In any fiscal year, in anticipation of the collection or receipt of other revenues of that <br />budget year, the council may by resolution authorize the borrowing of money by the <br />issuance of negotiable notes of the city, each of which shall be designated <br /> <br />"speeial reveRue Rote for the year 19 ." <br />"special revenue note for the year 20-." <br /> <br />23 <br /> <br />T' . r.--- ..-....... --. <br />