In any budget year, in anticipation of the collectionor receipt of other revenues of that budget year, the council may by resolutionauthorize the borrowing of money by the issuance of negotiable notes of thecity, each of which shall be designated ‘‘special revenue note for the year 2___’’ (stating the budget year). The notes may be renewed from time to time; but all such notes, together with therenewals thereof, shall mature and be paid not later than the end of the fiscalyear after the budget year in which the original notes shall have been issued.
Alabama Legal Code