The Local Government (Scotland) Act 1975 (Local Authority Borrowing Limit) Order 1993

• Citation: S.I. 1993/1900
• Sections: 2

Section 1 Citation, commencement and interpretation

(1) This Order may be cited as the Local Government (Scotland) Act 1975 (Local Authority Borrowing Limit) Order 1993 and shall come into force on 19th August 1993.

(2) In this Order–

“local authority” has the meaning ascribed to it in section 235(1) of the Local Government (Scotland) Act 1973 ; and

“year” has the meaning ascribed to it in section 37(1) of the Local Government (Scotland) Act 1975.

Section 2 Local authority borrowing limit

The aggregate of the amount outstanding on bills issued by a local authority under paragraph 6(1) of Schedule 3 to the Local Government (Scotland) Act 1975 shall not under paragraph 6(2)(a) of Schedule 3 to the Act exceed a sum equal to one third of the authority’s estimated gross income from rates, the council tax and the council water charge during the current year.