§47C-3  Supplemental determination. 
Whenever the county proposes to issue bonds, the director of finance shall
prepare a supplemental summary of the indebtedness of the county setting forth
therein such information and findings as of a date within thirty days of the
delivery of such bonds as will bring up to date and make current the most
recent summary prepared in accordance with the provisions of section 47C-2. 
The director of finance shall also prepare and attach to such supplemental
summary such supporting schedules as may be required to set forth in detail the
variations and changes from the summary prepared in accordance with section
47C-2, including such legal and financial findings as will justify any changes
in the itemizations set forth in such previous summary pursuant to the
requirements of paragraph (4) of section 47C-2.  If all the bonds proposed to
be issued may be excluded when determining the funded debt of the county for
the purposes of section 13 of Article VII of the Constitution by reason of the
provisions of clauses 2 or 4 of that section, the supplemental summary and
supporting schedules may be limited to such bonds and findings as are necessary
to justify such exclusion under such clauses.



In the event proceeds of the bonds proposed to
be issued are to be applied to the retirement in the then fiscal year of
outstanding bonds, including notes issued in anticipation of the issuance of
the bonds proposed to be issued, for the purpose of applying the provisions of
clause 1 of section 13 of Article VII of the Constitution to the bonds to be
retired, that amount of such proceeds to be so applied may be considered and
treated as moneys irrevocably set aside for the payment of such bonds. [L 1970,
c 202, pt of §1; am L 1979, c 43, pt of §4]