§ 615. Composition and limitation upon County funds and levies; special taxes; bond obligation.

For the fiscal and tax year beginning July 1, 1969 and thereafter, the following provisions shall apply:

(a)

Special funds; revenue and receipts; appropriations. All revenues and receipts from utility assessments, from special services or benefit charges, from special taxes or assessments imposed upon special taxing areas for special or particular services, purposes or benefits, from funds held by the County as trustee or agent, or from bond proceeds, shall be paid into and appropriated from special funds created therefor.

(b)

General revenue and receipts; appropriations. All other revenues and receipts of the County from taxes, grants, State revenues and other receipts shall be paid into and appropriated from the general fund which shall be the primary fund for the financing of current expenses for the conduct of County business.

(c)

Prohibitions. No general fund revenues or receipts as defined in subsection (b) of this Section shall be dedicated to, expended for, or used to supplement, appropriations from the special funds referred to in subsection (a) of this Section, except as a loan to such special fund as authorized by Section 609(c) of this Article which authorizes inter-fund borrowing.

(d)

Levy for roads. No tax for the purpose of raising revenues for the construction and maintenance of public roads shall be levied upon any assessable property in the County except on a Countywide basis.

(e)

Bond interest and redemption obligations. Nothing in this section shall be construed to prevent the County from fulfilling any obligation to levy, if necessary, a tax upon all or a portion of the assessable property within the County to provide for the payment of the interest on and principal of any bonds issued upon the full faith and credit of the County.

(f)

Working capital funds. Upon request of the Executive, the Council may, by the annual budget and appropriation ordinance, or by other legislative act, provide for the establishment of working capital or revolving funds for the financing of central stores, equipment pools or other services common to the agencies of the County.

(g)

Reserve Fund for Permanent Public Improvements. Notwithstanding the provisions of Section 615(c) above, the Council may establish a Reserve Fund for Permanent Public Improvements, into which there may be paid by the annual budget and appropriation ordinance cash surpluses not otherwise appropriated or toward which taxes or other sources of revenue may be dedicated; provided that the annual amount paid into such fund shall not exceed three per centum of the annual expense budget.