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(a) Fund established. There is a Watershed Protection and Restoration Special Revenue Fund into which shall be paid the revenue required by the Environment Article, § 4-202.1(h)(3), of the State Code.
(b) Special fund. The Watershed Protection and Restoration Special Revenue Fund is a special, nonlapsing fund.
(c) Purposes. The revenue paid into the Watershed Protection and Restoration Special Revenue Fund shall be dedicated to and appropriated for those purposes set forth in the Environment Article, § 4-202.1(h)(4), of the State Code, including the payment or reimbursement of debt service on bonds, notes or other obligations that finance stormwater management projects and the pledging of such revenue and fund to secure the repayment of this debt service.
(d) Nonexclusive source of funding. General Fund and other revenues may be used to supplement appropriations from the Watershed Protection and Restoration Special Revenue Fund for the purposes set forth in subsection (c).
(Bill No. 2-13; Bill No. 85-13)
(a) Definitions. In this section, the terms "developer" and "development" have the meanings set forth in § 17-1-101 of this Code.
(b) Fund established. There is a Developer Street Light Special Fund into which shall be paid the revenue collected in accordance with § 17-11-301(c) of this Code.
(c) Special fund. The Developer Street Light Special Fund is a special, nonlapsing fund.
(d) Purposes. The revenue paid into the Developer Street Light Special Fund shall be appropriated for the purchase, construction, and installation of street lighting associated with a development for which a developer paid a fee in accordance with § 17-11-301(c) of this Code, and for the costs of the County in administering the fund.
(Bill No. 104-13)
(a) Fund established. There is hereby created a revenue reserve account known as the Reserve Fund for Permanent Public Improvements.
(b) Funding.
(1) (i) Subject to the limitation in paragraph (iii), revenue resulting from the first one-tenth of a percentage point by which the County income tax rate exceeds 2.50% shall be paid into the Fund.
(ii) Subject to the limitation in paragraph (iii), if the County income tax rate exceeds 2.50% by less than one-tenth of a percentage point, then all of the revenue resulting from the increase shall be paid into the Fund.
(iii) The revenue paid into the Fund under paragraphs (i) or (ii) shall not exceed $21,000,000 in any fiscal year.
(2) Unexpended Fund balances that would otherwise lapse into the General Fund may also be paid into the Fund.
(3) Interest earnings of the Fund shall be retained to the credit of the Fund.
(c) Continuing fund. The Reserve Fund for Permanent Public Improvements is a continuing, non-lapsing fund.
(d) Purposes.
(1) The revenues paid into the Fund shall be appropriated solely as a funding source for permanent public improvements in the capital budget, including the payment or reimbursement of debt service on bonds, notes, and other obligations that fund permanent public improvements in the capital budget and the pledging of such revenue and Fund to secure the repayment of such debt service.
(2) Notwithstanding other provisions of the Charter, the existence of this Fund does not prohibit the use of other revenues and receipts to finance permanent public improvements.
(Bill No. 42-19)
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