5460

COUNTY LOCAL LAWS

operation of their fire departments and rescue squads.
Any moneys which are retained by the director of finance
on behalf of the fire departments or rescue squads shall
be invested in the county's investment fund. The
proceeds from such investments shall be credited to the
funds to be provided for each department or squad for the
ensuing fiscal year following the year in which the funds
were invested. Proceeds shall be credited to each
department or squad in proportion to the amount of any
moneys retained and invested by the director of finance
on behalf of each department or squad.

There shall be included in the annual budget
request for the consolidated district, and for each
individual district as may be applicable and the council
shall levy a tax for any fiscal year in such amount as
shall be sufficient to pay the principal and interest
obligation for such fiscal year of any bonds issued and
outstanding for any of the fire tax districts included in
such consolidated district, and if there are any
outstanding bonds which were issued for any fire tax
district not included in the consolidated district, the
tax levied by the council for any such fire district
shall be sufficient to pay the principal and interest
obligation on any outstanding bonds.

(3)    Treasurer's Bond. Each fire department
and rescue squad shall provide a corporate bond to
Montgomery County to be approved by the director of
finance and the county attorney of the county in a penal
sum to be fixed by them conditioned upon faithful
discharge of the duties of the treasurer. A corporate
blanket bond covering one or more departments, squads and
treasurers may be approved.

(4)    Purchasing. Under the direction of the
fire board, each fire department and rescue squad shall
establish a fiscal policy and purchasing system for the
expenditure of all tax monies received from the county,
which policy and system shall conform to sections 20—23
to 20—35 as now in existence, or as amended under the
provisions of section 314, Montgomery County Charter.

(5)    Audit. The fire board shall engage a
certified public accountant or a recognized public
accounting firm annually to audit all tax and county
appropriated funds received by the departments and
squads. Each annual audit shall be submitted to the fire
board for further submission to the county. The audit
shall be available for the public hearings on the
budgets.

(e) Personnel. The chairman of the fire
board shall appoint a personnel committee of seven