§47C-7 Effect of summary. In the event of the issuance of bonds by the county, the summary most recently prepared pursuant to section 47C-2 prior to the issuance of such bonds, together with the supplementary summary pertaining to such issuance prepared pursuant to section 47C-3, both as certified to the council, shall be utilized in determining whether the issuance of such bonds would cause the limit set forth in section 13 of article VII of the constitution on the funded debt of the county to be exceeded by such issuance. Such summaries shall be conclusive as to all items therein concurred to by the corporation counsel and the chairperson of the finance committee and as to all items therein revised to reflect the findings of the council of the county upon public hearing or the findings and determination of the circuit court in a declaratory judgment action. In the event that the disagreement of the corporation counsel or the chairperson of the finance committee as to any item in a summary or supporting schedules has not been resolved upon public hearing or by a declaratory judgment action, the bonds or portion thereof to which such disagreement pertains shall be included in determining the funded debt of the county for the purposes of section 13 of article VII of the constitution unless and until such disagreement is resolved upon public hearing or by a declaratory judgment action. [L 1970, c 202, pt of §1; am L 1979, c 43, pt of §4; gen ch 1993]
Section: Previous 47c-1 47c-2 47c-3 47c-4 47c-5 47c-6 47c-7Last modified: October 27, 2016