The board may authorize borrowing for the college, in compliance with state laws, by resolution stating the upper limit to be obligated at any one time. The president or designee may initiate emergency borrowing prior to board approval should a quorum of the board not be available to authorize borrowing.

ADOPTED: November 9, 1998
REVIEWED: May 12, 2004
REVIEWED: November 9, 2005
REVIEWED: November 5, 2008
REVIEWED: December 10, 2014