When there is a temporary deficit in the state treasury, the state may borrow money not exceeding what proportion of the previous year's total revenue receipts?

The correct answer indicates that the state of Georgia can borrow money not exceeding 5 percent of the previous year's total revenue receipts during a temporary deficit in the state treasury. This regulation is embedded in the Georgia Constitution, which aims to maintain fiscal responsibility and stability within the state's financial operations. By setting a limit on the amount that can be borrowed, the Constitution ensures that the state does not overextend its obligations and maintains a manageable level of debt. This is crucial for protecting the economic well-being of the state and its citizens, ensuring that borrowing is used judiciously during temporary financial shortfalls. It reflects a commitment to prudent financial governance and prevents excessive borrowing that could lead to long-term fiscal challenges.