§47C-7 - Effect of summary.
§47C-7 Effect of summary. In the event
of the issuance of bonds by the county, the summary most recently prepared
pursuant to section 47C-2 prior to the issuance of such bonds, together with
the supplementary summary pertaining to such issuance prepared pursuant to
section 47C-3, both as certified to the council, shall be utilized in
determining whether the issuance of such bonds would cause the limit set forth
in section 13 of Article VII of the Constitution on the funded debt of the
county to be exceeded by such issuance. Such summaries shall be conclusive as
to all items therein concurred to by the corporation counsel and the
chairperson of the finance committee and as to all items therein revised to
reflect the findings of the council of the county upon public hearing or the
findings and determination of the circuit court in a declaratory judgment
action. In the event that the disagreement of the corporation counsel or the
chairperson of the finance committee as to any item in a summary or supporting
schedules has not been resolved upon public hearing or by a declaratory
judgment action, the bonds or portion thereof to which such disagreement
pertains shall be included in determining the funded debt of the county for the
purposes of section 13 of Article VII of the Constitution unless and until such
disagreement is resolved upon public hearing or by a declaratory judgment
action. [L 1970, c 202, pt of §1; am L 1979, c 43, pt of §4; gen ch 1993]