CHAPTER 4 POWERS OF THE GOVERNOR AND COUNCIL IN CERTAIN CASES
Expenditures and Disbursements
Section 4:20
4:20 Borrowing for. –
In case there shall not be sufficient funds in the treasury available for the payment of warrants so drawn the treasurer, under the direction of the governor and council, is authorized to borrow on the state's credit for a period of not more than 5 years, at the lowest rate of interest obtainable, such sums as may be necessary for the purposes aforesaid.