The Board of Directors will, only when absolutely necessary, issue warrants for which there are no funds available for the payment of such warrants.
If warrants are issued for which there are no funds available for payment of such warrants, the board secretary/treasurer will institute such procedures as stated in the Code of Iowa, Chapter 74, Sections 1-7 for the payment of said warrants.
Adopted: 6/70
Reviewed: 10/12; 12/13; 5/15; 12/18; 1/22
Related Policy: 803.6
Legal Reference (Code of Iowa): 74.1-7