Sec. 20-43. Collection of funds; record of collections and disbursements.

   It shall be the duty of every officer and employee receiving money or collecting funds for the county to issue a receipt to the person paying the money or remitting the funds when the payment or remittance is in cash. The receipt shall show the date, amount and purpose of payment or remittance. When payments or remittances are made by check, a receipt shall not be required to be issued, except upon request of the payor; and the canceled check, properly validated through the county collection system, shall constitute the payor’s receipt. It shall be the duty of every officer and employee disbursing money for the county to keep a record of the date, payee, check number, amount, and purpose of every disbursement made. The purpose of payment or remittance and disbursement may be shown by written description or a numerical code, as approved by the director of finance. (1986 L.M.C., ch. 37, § 2.)

   Editor’s note—See County Attorney Opinion dated 6/3/08 discussing public purpose funds and non-public purpose funds.

Sec. 20-44. bonds of officers and employees.

   (a)   All officers and employees in the department of finance, including the director, shall furnish a bond to the county either separately or as a group or in groups, and each bond shall be approved by the county executive, and the premium therefor shall be paid by the county.

   (b)   All employees of the county who handle funds of the county, any part or subdivision thereof, or any agency operating therein, are hereby required to be bonded either individually or in a group to the county in such penalty as may be prescribed by the county executive, with a surety to be approved by the county executive, conditioned that such employee will well and faithfully perform his duties as en employee of the county, and will account for and pay over to the director of finance all sums of money so received by such employee. (1986 L.M.C., ch. 37, § 2.)

   Editor’s note—See County Attorney Opinion dated 6/3/08 discussing public purpose funds and non-public purpose funds.

Sec. 20-45. Collection of taxes by banks.

   On or before July 1 of each year, the director of finance shall designate the banking institutions in the county where taxes may be paid, and notice of such designations shall be attached to or printed on the back of all tax bills rendered by the county. Each such banking institution may be paid up to five cents ($0.05) for each tax bill under which payment is received by it. On the first Monday of each month, each such banking institution shall report all collections received during the preceding month to the director of finance in such form as he shall prescribe, and all such collections shall be held or transmitted by the banking institution as the director of finance shall direct. (1986 L.M.C., ch. 37, § 2.)

Sec. 20-46. Cost accounting systems.

   The county executive is hereby authorized in his discretion to install a cost accounting system or systems in any office, agency, or branch of the county government and to require that the accounts of such office, agency, or branch shall be kept in accordance with the system thus prescribed and installed. (1986 L.M.C., ch. 37, § 2.)

Article IX. Revenue Bonds.

Sec. 20-47. Short title.

   This article may be referred to as the "Montgomery County Revenue Bond Act." (1986 L.M.C., ch. 52, § 1.) 

Sec. 20-48. Definitions.

   The following definitions apply to this article:

      (1)   Construction means acquisition, installation, reconstruction, or construction, or any combination of them.

      (2)   Costs of the project means:

         a.   The funding of one (1) or more reserve funds that is necessary or desirable in connection with the financing of a project;

         b.   The cost of all land, property, rights, easements, and franchises that are necessary for the construction or improvement of any project;

         c.   The cost of all:

            (i)   Labor;

            (ii)   Materials;

            (iii)   Machinery;

            (iv)   Equipment;

            (v)   Furnishings;

            (vi)   Installing any equipment and furnishings;

            (vii)   Financing charges; and

            (viii)   Interest charged before and during construction, and for one (1) year after completion of construction;

         d.   The costs of:

            (i)   Engineering;

            (ii)   Architectural services;

            (iii)   Legal services;

            (iv)   Plans;

            (v)   Specifications;

            (vi)   Surveys;

            (vii)   Estimates of costs and of revenues;

            (viii)   Determining the feasibility or practicability of construction;

            (ix)   Administrative expenses; and

            (x)   Any other services that may be necessary or incident to the financing, construction, or improvement of a project, and of placing a project in operation.

      (3)   Equipment and furnishings mean any:

         a.   Instrument;

         b.   Apparatus;

         c.   Accouterment or appointment; and

         d.   Installation.

      (4)   Improvement means extension, enlargement or betterment, or any combination of them.

      (5)   Project means:

         a.   Any system, structure, facility, or undertaking, all or a part of which is financed from the proceeds of revenue bonds; and

         b.   Any real or personal property or any interest in the real or personal property, or any combination of them.

      (6)   Revenue bonds means bonds or other obligations issued by the county under section 5(P)(2) and (3) of article 25A of the Annotated Code of Maryland and this article. (1986 L.M.C., ch. 52, § 1.)