§ 21 Ordinance on the Accounting of Municipalities - Land Credit Account

1. The issuance of a regulation concerning a land credit account is the responsibility of the eligible voters.

2. With a regulation concerning a land credit account, the executive branch can conduct real estate transactions, which are to be allocated to the financial assets, with conclusive competence.

3. If the properties acquired through the land credit account are allocated to administrative assets or sold, the land credit account must be settled through the investment account with the original purchase price of the property as well as the incurred costs and credits.

4. The executive branch must annually render an account with the financial statement about the real estate purchases and sales conducted, as well as the transfers to the financial or administrative assets.

← § 20 Regulation on Municipal Accounting Ordinance on the Accounting of Municipalities - Purpose § 22 Regulation on Municipal Accounting →