http://www.legislation.gov.uk/ukpga/2003/26/section/1/2003-11-18Local Government Act 2003An Act to make provision about finance, and other provision, in connection with local and certain other authorities; to provide for changing the dates of local elections in 2004; to amend the Audit Commission Act 1998; and for connected purposes.texttext/xmlenStatute Law Database2024-06-14Expert Participation2003-11-18Part 1Capital finance etc and accountsChapter 1Capital finance etcBorrowing
1Power to borrow

A local authority may borrow money—

(a)

for any purpose relevant to its functions under any enactment, or

(b)

for the purposes of the prudent management of its financial affairs.

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Capital finance
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Capital finance
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