(a) Declaration of intent. For the purposes of § 148 and related provisions of the Internal Revenue Code, as amended, the County Executive is designated as the official authorized to declare on behalf of the County an official intent to reimburse expenditures with bond or note proceeds and is authorized to establish procedures for recording and making available evidence of such intent and generally to take such actions as may be appropriate to assure compliance by the County with applicable provisions of the Internal Revenue Code regarding such declaration of intent. For the purposes § 148 and related provisions of the Internal Revenue Code, as amended, official intent to reimburse expenditures also may be declared on behalf of the County in a resolution or ordinance of the County Council.
(b) Delegation in writing. The authority of the County Executive to declare official intent may be delegated in writing by the County Executive to one or more designees.
(1985 Code, Art. 6, § 9-105) (Bill No. 62-91)