SPIRO T. AGNEW, Governor                        1389

status shall be excepted. These powers are in addition to any powers
any county may now have under any public general or local law
applicable to the county.

Creation of Public Debt by Code Counties
14. Authority to borrow money, issue bonds.

Every code county has power under this subtitle to borrow money
for any proper public purpose and to evidence the borrowing by the
issue and sale of its general obligation bonds in the manner herein
prescribed. Notwithstanding the other provisions of this subtitle,
a code county also may issue bonds for sanitary facilities under the
authority of Article 43 of this Code, title "Health," and to issue
such bonds as may be authorized by local law existing on the date
this county acquires code home rule status; but in exercising the
power to issue bonds described in this sentence, it shall not be neces-
sary to enact a local law as provided in this subtitle; it shall only be
required that the code county comply with the procedure set forth in
the law conferring the borrowing power to be exercised.

15. Bond to be authorized by public local law provisions.

Except as provided in Section 14 of this Article, all bonds of a code
county shall be authorized by public local law enacted by the Board
of County Commissioners of the county in accordance with the pro-
visions of Section 8 through Section 12 of this Article. The public
local law shall contain the following:

(1)    A statement of the aggregate amount of bonds authorized
by the public local law; and

(2)    A statement of the public purpose or purposes for which
the proceeds of the bonds are to be expended; and

(3)    A statement of the taxes or other revenues from which the
principal of and interest on the bonds will be payable; and

(4) A requirement that the Board of County Commissioners of
the code county, prior to issuing all or any part of the bonds au-
thorized, shall adopt a resolution that contains the following:

(i) The amount of the bonds to be issued and a statement of the
public purpose or purposes for which the proceeds of the bonds are
to be expended; and

(ii) The complete form of the bonds, which shall include the
place or places and time or times of payment thereof, the rate or
rates of interest payable thereon or space for the insertion of the
rate or rates of interest upon the determination thereof, the titles
of the officials whose signatures shall be affixed to or imprinted on
such bonds, the authority for the issuance thereof, and the taxes
and any special revenues from which the principal of and interest
on said bonds will be payable; and

(iii) If the public local law does not exempt the bonds from the
provisions of Sections 9 to 11, inclusive, of Article 31 of this Code,
the form of the notice soliciting bids for the purchase of the bonds
shall set forth the information required by Section 10 of Article 31
of this Code. This notice of sale may also require prospective pur-
chasers to submit bids on specified forms, may make appropriate