(a) The Clerk of the Council must submit any resolution of the Council approving a bond guarantee to the County Executive for approval within 3 days after adoption.
(b) If the County Executive does not communicate disapproval of the resolution and the reasons for the disapproval to the Council within 10 days after receiving the resolution, the Council’s approval stands. If the County Executive disapproves the resolution, the Council may override the disapproval by an affirmative vote of at least 7 Councilmembers.
(c) The Council may rescind the resolution approving a bond guarantee at any time before the bonds are advertised for public sale, or, in the case of a private sale, before the sale of the bonds or distribution of a related offering circular, whichever occurs first. (1978 L.M.C., ch. 36, § 2; 1983 L.M.C., ch. 32, § 1; FY 1991 L.M.C., ch. 11, §1
; 2006 L.M.C., ch. 33, § 1; 2022 L.M.C., ch. 40
, § 1.)