Section 11. Use of Loan Proceeds

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Use of Loan Proceeds

All money borrowed by or on behalf of the state or any county, city, town, or other local governmental entity shall be used only for purposes specified in the authorizing law.

All moneys borrowed by or on behalf of the State or any county, city, town, municipality or other subdivision of the State, shall be used only for the purpose specified in the law authorizing the loan.

Redlined Comparison between 1889 and 1973 Amendment

Removed from 1889 Added to 1973

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