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Session Laws, 1972
Volume 708, Page 2776   View pdf image
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2776                            County Local Laws

and other vehicles, within and for the parking lot districts here-
tofore or hereafter established by law as the same are described
in Title II, Chapter 44, Section 1 of the Montgomery County
Code 1965, as amended from time to time, include the acquisi-
tion and development of sites therefor, the architectural and
engineering services incident thereto and the acquisition and
installation of necessary furnishings and fixed permanent equip-
ment therefor.

Sec. 2. Section 2-112 of the Montgomery County Code 1965,
title "General Local Laws," chapter "Administration," article "Fi-
nance and Taxation Generally," division "Financing Public Facilities
Generally," be and the same is hereby repealed and re-enacted, with
amendments, to read as follows:

With regard to any County borrowing heretofore or hereafter
authorized by law on the full faith and credit of the County for
the purpose of financing the public facilities defined in Section
2-111 of this Code, the County shall evidence such borrowing or
indebtedness by the issuance of its general obligation serial ma-
turity bonds. Subject to the terms and conditions hereinafter
set forth, the County Executive is hereby delegated and he shall
exercise all powers necessary to fix and determine the terms and
conditions of any such bonds, the interest payable thereon, and
the advertising and sale thereof. Any such bonds may be issued
pursuant to the authority of this division and for the purposes
hereinabove enumerated at any time and from time to time
hereafter, within the limitations provided by law.

All action required or permitted to be taken pursuant to this
division shall be taken pursuant to order of the County Execu-
tive. The County Executive shall cause a true and correct copy
of every such order passed to be filed with the Secretary to the
County Council who shall keep a permanent record of all of said
orders; and certification thereof by the said Secretary to the
County Council shall be evidence of the authenticity of any such
order.

SEC. 3. Section 2-113 of the Montgomery County Code 1965,
title "General Local Laws," chapter "Administration," article "Fi-
nance and Taxation Generally," division "Financing Public Facilities
Generally," be and same is hereby repealed and re-enacted, with
amendments, to read as follows:

Before borrowing any money or issuing any bonds pursuant
to the authority conferred on the County by any law, the County
Executive shall pass an order describing the public facility or
facilities for which such borrowing or indebtedness is intended,
the amount needed to finance the public facility or facilities and
determining to borrow money or incur indebtedness for all or a

 

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Session Laws, 1972
Volume 708, Page 2776   View pdf image
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