3952

COUNTY LOCAL LAWS

bonds; providing that certain matters pertaining to such
revenue bonds, including (without limitation) rates, amounts
and dates of any series of such revenue bonds, maturity or
maturities, sinking fund requirements and redemption
provisions, shall be determined administratively at or prior
to the time of such private sale of any series of such
revenue bonds by resolution of the County Council for
Montgomery County approved by the County Executive;
delegating various matters in connection with such revenue
bonds to the County Executive or the Chief Administrative
Officer; providing that such County Council may determine
administratively by resolution or by other appropriate
action all other matters pertaining to the issuance, sale
and delivery of any series of such revenue bonds, including
(without limitation) the provisions of trust between the
County and a trustee to be appointed to act under this Act
as a trustee for all moneys received and disbursed in
accordance herewith, the provisions of a loan agreement
between Montgomery County, Maryland, and the aforesaid
corporation, the creation of an escrow fund to be held by
such trustee and provision for disbursement from such escrow
fund, provision for the investment of moneys held by the
trustee, provision of remedies for bondholders in the event
of default; and generally providing for and determining
various matters in connection with the authorization,
issuance, security, sale and payment of such revenue bonds.

Effective Date August 24, 1978.

Bill No. 21-78

Chapter 9

AN EMERGENCY ACT to amend Article I, Section 56-1,
title "Rehabilitation Loan Fund" of Chapter 56, title "Urban
Renewal and Community Development" of the Montgomery County
Code 1972, as amended; to include mobile homes for
eligibility for rehabilitation loans; and to provide for
administration.

Effective Date August 28, 1978.

Bill No. 22-78

Chapter 10

AN EMERGENCY ACT to repeal in its entirety Article II,
title "Homeowners' Construction Loan Fund" of Chapter 56,
title "Urban Renewal and Community Development" of the
Montgomery County Code, 1972, as amended, and to enact in
lieu thereof a new Article II, title "Homeowners'
Replacement Loan Fund"; to define certain terms; to provide
authority to establish; to provide for eligibility
requirements; to provide for replacement requirements; to