Section 16-207 - County Executive to concur in or disapprove bond guarantee. - Maryland Statutes

§ 16-207. County Executive to concur in or disapprove bond guarantee.
 

(a)  In general.-  

(1) An approval of a bond guarantee by the County Council shall be submitted to the County Executive within 3 days for concurrence or disapproval. 

(2) If the County Executive does not communicate disapproval and reasons for the disapproval to the County Council within 10 days after receipt of an approval of a bond guarantee from the Council, the Council's approval shall stand. 

(b)  Override of disapproval.- The County Council may override a disapproval of a bond guarantee by a vote of at least six members. 

(c)  Rescinding approval.- The County Council may rescind an approval of a bond guarantee by resolution adopted: 

(1) before the advertisement of the bonds; or 

(2) if the sale is to be private, before the earlier of: 

(i) the sale of the bonds; and 

(ii) the distribution of a related offering circular. 
 

[An. Code 1957, art. 44A, § 2-103(a)(3)(iii), (iv); 2006, ch. 63, § 2.]