Housing Development Agency Act, 2008
R 385
Local Government: Municipal Finance Management Act, 2003 (Act No. 56 of 2003)Chapter 6 : Debt47. Conditions applying to both short-term and long-term debt |
A municipality may incur debt only if—
| (a) | the debt is denominated in Rand and is not indexed to, or affected by fluctuations in the value of the Rand against any foreign currency: and |
| (b) | section 48(3) has been complied with, if security is to be provided by the municipality. |
