3896

LAWS OF MARYLAND

Ch. 760

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Code of Public Local Laws
of Maryland read(s) as follows:

Article 7 - Carroll County

3-62.

The County Commissioners of Carroll County shall
establish orderly procedures for budgeting and finance which
shall:

(17) Authorize a reserve fund for [permanent
public improvements and] self insurance of county property
AND OTHER RESERVES AS REQUIRED BY GENERALLY ACCEPTED
ACCOUNTING PROCEDURES into which FUNDS MAY BE ALLOCATED FROM
the annual budget and appropriation ordinance [may dedicate
cash surpluses not otherwise appropriated, taxes or other
revenue sources]. THE COUNTY COMMISSIONERS SHALL ESTABLISH
A LIMIT AS TO THE MAXIMUM AMOUNT OF THE SELF INSURANCE FUND
AND MAY AMEND THE LIMIT FROM TIME TO TIME TO REFLECT THE
REQUIREMENTS OF THE FUND. WHEN THE LIMIT OF THE FUND IS
REACHED, THE ANNUAL APPROPRIATION SHALL REPLACE PAYMENTS
MADE BECAUSE OF CLAIMS AGAINST THE FUND.

(19) PROVIDE THAT THE SURPLUS FUNDS OF THE
COUNTY, WHETHER FROM UNEXPENDED APPROPRIATIONS OR FROM
REVENUE COLLECTIONS IN EXCESS OF THE REVENUE ESTIMATES,
SHALL BE INCLUDED AS A REVENUE FOR THE BUDGET FOR THE NEXT
FISCAL YEAR. THE SURPLUS SHALL INCLUDE:

(I)  THE ACTUAL SURPLUS FOR THE PRIOR
FISCAL YEAR IN EXCESS OF ANY SURPLUS LESS THE ANTICIPATED
SURPLUS, IF ANY, USED TO FUND THE CURRENT YEAR'S BUDGET;

(II)  AN ESTIMATE OF THE ANTICIPATED
SURPLUS FOR THE CURRENT FISCAL YEAR; AND

(III)  ANY UNEXPENDED FUNDS FROM THE
PROCEEDS OF A BOND ISSUE, IF THE LEGISLATION AUTHORIZING THE
ISSUANCE OF BONDS DOES NOT PROVIDE FOR THE UTILIZATION OF
UNEXPENDED FUNDS.

(20) AUTHORIZE A RESERVE FUND FOR PERMANENT
PUBLIC IMPROVEMENTS INTO WHICH FUNDS ARE ALLOCATED ONLY FROM
APPROPRIATIONS IN THE ANNUAL BUDGET AND APPROPRIATIONS
ORDINANCE.

(I) EFFECTIVE JULY 1, 1982, BEFORE ANY
FUNDS ARE EXPENDED FROM THE RESERVE FUND FOR PERMANENT
PUBLIC IMPROVEMENTS, THE COUNTY COMMISSIONERS SHALL HOLD A
PUBLIC HEARING AT WHICH INTERESTED PERSONS MAY COMMENT ON
THE PURPOSES OF THE EXPENDITURES.