WILLIAM DONALD SCHAEFER, Governor                      Ch. 11

pursuant to Section 14-206(3)(ii) OF THIS SUBTITLE may be used as
provided in subsection (a) of this section in any fiscal year by
the county or municipality, but only to the extent that:

(1)  The amount in such special fund exceeds the
unpaid debt service payable on such bonds in such fiscal year and
is not restricted so as to prohibit the use of such moneys; and

(2)  Such use is not prohibited by the ordinance
authorizing the issuance of such bonds.

14-210.

(a)  In order to implement the authority conferred upon it
by this [subheading] SUBTITLE to issue bonds, the governing body
of any county or municipality shall adopt an ordinance which:

(1)  Specifies and describes the proposed undertaking
and states that it has complied with § 14-206 of this
[subheading] SUBTITLE;

(2)  Specifies the maximum principal amount of bonds
to be issued; and

(3)  Specifies the maximum rate or rates of interest
the bonds are to bear.

(b)  The ordinance described in § 14-207 of this
[subheading] SUBTITLE may itself specify and prescribe, or may
authorize its finance board, by resolution or ordinance, or its
chief executive officer, by executive order, to specify and
prescribe any of the following as it deems appropriate to effect
the financing of the proposed undertaking:

(1)  The actual principal amount of the bonds to be
issued;

(2)  The actual rate or rates of interest the bonds
are to bear;

(3)  The manner in which and the terms upon which the
bonds are to be sold;

(4)  The manner in which and the times and places that
the interest on the bonds is to be paid;

(5)  The time or times that the bonds may be executed,
issued, and delivered;

(6)  The form and tenor of the bonds and the
denominations in which the bonds may be issued;

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