MONTGOMERY COUNTY

Bill No. 39-92

Chapter 35

Laws of Montgomery County, 1992

AN ACT to:

(1)     establish the Montgomery County Revenue Authority as authorized by
Chapter 601 of the 1992 Laws of Maryland with certain powers and subject to
certain limitations;

(2)     maintain the powers, rights, and obligations of the previously existing revenue
authority in the newly established Montgomery County Revenue Authority;

(3)     authorize additional purposes and projects for the Revenue Authority;

(4)     provide for the appointment and confirmation of members of the Revenue
Authority, including a certain transition provision, and otherwise provide for
the Authority's organization and administration;

(5)     provide certain budgetary procedures and adjust amounts authorized to be
advanced from the general fund under certain circumstances;

(6)     provide for the financing of the Revenue Authority's projects, including the
issuance and sale of revenue bonds, notes, certificates, and other instruments
of indebtedness, subject to certain conditions and limitations;

(7)     define certain terms and make certain technical and stylistic changes; and

(8)     generally revise County law with respect to the Revenue Authority.

By repealing

Montgomery County Code
Chapter 42, Revenue Authority
Sections 42-1 through 42-31

By adding

Montgomery County Code
Chapter 42, Revenue Authority
Sections 42-1 through 42-34

By amending

Montgomery County Code
Chapter 20, Finance
Section 20-1

[Effective Date July 1, 1993 (Consistent with Chapter 601 of the Acts of the General
Assembly of 1992)]

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