(A) It is the intent of the county governing body that the bond rating enhancement reserve shall be at an amount no less than 3% of the general fund expenditures and transfers to the Board of Education, the Frederick Community College, and the Frederick County public libraries for the prior fiscal year.
(B) To begin to build the bond rating enhancement reserve to at least 3%, the county has designated $2 million of fund balance as of June 30, 2003 to the bond rating enhancement reserve.
(Ord. 03-14-337, 9-25-2003; Ord. 09-13-517, 5-19-2009; Ord. 14-23-678, 11-13-2014)