Western Australian Current Acts Western Australian Current Acts (1) Subject to this
Act, a local government may —
(a)
borrow or re-borrow money; or
(b)
obtain credit; or
(c)
arrange for financial accommodation to be extended to the local government in
ways additional to or other than borrowing money or obtaining credit,
to enable the local
government to perform the functions and exercise the powers conferred on it
under this Act or any other written law.
(2) Where, in any
financial year, a local government proposes to exercise a power under
subsection (1) ( power to borrow ) and details of that proposal have not been
included in the annual budget for that financial year —
(a)
unless the proposal is of a prescribed kind, the local government must give
one month’s local public notice of the proposal; and
(b) the
resolution to exercise that power is to be by absolute majority.
(3) Where a local
government has exercised a power to borrow and —
(a) it
does not wish to proceed with the performance of the function or the exercise
of the power for which the power to borrow was exercised; or
(b)
after having completed the performance of the function or the exercise of the
power for which the power to borrow was exercised, any part of the money
borrowed, credit obtained or financial accommodation arranged has not been
expended or utilized,
the local government
may resolve* to expend the money or utilize the credit or financial
accommodation for another purpose if one month’s local public notice is
given of the proposed change of purpose.
* Absolute majority required.
(4) A local government
is not required to give local public notice under subsection (3) —
(a)
where the change of purpose has been disclosed in the annual budget of the
local government for the relevant financial year; or
(b) in
such other circumstances as are prescribed.
(5) A change of
purpose referred to in subsection (3) is to be disclosed in the annual
financial report for the year in which the change occurs.