A local authority may borrow money—
for any purpose relevant to its functions under any enactment, or
for the purposes of the prudent management of its financial affairs.
Section 1: Power to borrow
Local Government Act 2003 · 2003 c. 26View on legislation.gov.uk
Part 1: Capital finance etc and accounts — Chapter 1: Capital finance etc
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Reuse reviewed 21 August 2026 under Open Government Licence v3.0.