The proceeds of the sale of each series of notes shall be paid directly to the Controller and shall be deposited in the proper accounts of the County. There shall be deducted from the total gross proceeds received from the sale of each series of notes the cost of issuing the notes, including the cost of any printing or reproduction expenses, all legal fees, and other reasonably related expenses. The balance of the proceeds of the sale of each series of notes shall be expended to meet and pay, together with any other available funds, expenses budgeted for the current fiscal year as such expenses may become payable. Any part of the funds derived from the sale of each series of notes not expended for the purposes set forth in § 4-10-301 shall be set apart in a separate fund by the Controller and applied in payment of the principal of the series of notes.
(1985 Code, Art. 6, § 9-208)