(a) Revenue or private activity bonds in general. Unless otherwise provided by law, the issuance of revenue or private activity bonds by the County on behalf of a third party that do not constitute in any manner an indebtedness of the County or a charge against the general credit or taxing powers of the County shall be approved by a resolution introduced by request of the County Executive and adopted by the County Council.
(b) Private activity bonds by volunteer fire company. The issuance of private activity bonds by a qualified volunteer fire company under § 150(e) of the Internal Revenue Code, as amended, shall be approved by the County for the purposes of § 147(f) of the Internal Revenue Code, as amended, by a resolution introduced on behalf of the County Executive and adopted by the County Council.
(1985 Code, Art. 6, § 9-301) (Bill No. 61-04)