Section 31-21-101 - Definitions

As used in this part 1, unless the context otherwise requires:(1) 'Floating indebtedness' means all obligations of the municipality to pay money, of whatever kind or character, except indebtedness evidenced by outstanding negotiable interest-bearing bonds of the municipality.L. 75: Entire title R&RE, p. 1134, § 1, effective July 1.This section is similar to former § 31-21-101 as it existed prior to 1975.