Unannotated Code of Maryland (Last Updated: May 16, 2014) |
LOCAL GOVERNMENT |
DIVISION IV. LOCAL FINANCE |
TITLE 17. INVESTMENT BY LOCAL GOVERNMENT |
SUBTITLE 2. LOCAL GOVERNMENT INVESTMENT GUIDELINES |
§ 17-201. Definitions
Latest version.
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(a) In general. -- In this subtitle the following words have the meanings indicated.
** REVISOR'S NOTE
This subsection formerly was Art. 95, § 22F(a)(1).
** REVISOR'S NOTE
The only change is in style.
(b) Financial officer. -- "Financial officer" means the treasurer or other financial officer of a governmental entity who is responsible for the investment of public funds or the issuance and management of debt of the governmental entity.
** REVISOR'S NOTE
This subsection formerly was Art. 95, § 22F(a)(4).
** REVISOR'S NOTE
The only changes are in style.
(c) Governing authority. -- "Governing authority" means:
(1) for Baltimore City, the Baltimore City Board of Estimates;
(2) for a commission county, the county commissioners;
(3) for a charter county, as provided by local law, the county council or the county executive and the county council;
(4) for a code county, the county commissioners;
(5) for a community college, the board of trustees;
(6) for a municipality, the body provided by the municipal charter;
(7) for the Washington Suburban Sanitary Commission, the Commission;
(8) for a public corporation, the board of directors; and
(9) for an authority, the board of the authority.
** REVISOR'S NOTE
This subsection is new language derived without substantive change from former Art. 95, § 22F(a)(5).
** REVISOR'S NOTE
In this subsection and throughout this subtitle, the defined term "governing authority" is substituted for the former defined term "governing body" to avoid confusion with the article-wide defined term "governing body", which does not include the entities described in items (1), (5), (7), (8), and (9) of this subsection.
** DEFINED TERMS:
"Charter county" § 1-101
** DEFINED TERMS:
"Code county" § 1-101
** DEFINED TERMS:
"Commission county" § 1-101
** DEFINED TERMS:
"Municipality" § 1-101
**
(d) Public money. -- **
(1) Except as provided in paragraph (2) of this subsection, "public money" means any money held by a governmental entity. **
(2) "Public money" does not include money held as part of a pension fund, a fund for other postemployment benefits, as defined in § 17-102(a) of this title, or a trust fund account or for self-insurance purposes.
REVISOR'S NOTE
This subsection is new language derived without substantive change from former Art. 95, § 22F(a)(7).
REVISOR'S NOTE
In paragraphs (1) and (2) of this subsection, the references to "money" are substituted for the former references to "revenue[s]" for consistency within this article and with other revised articles of the Code.
REVISOR'S NOTE
In paragraph (1) of this subsection, the former references to a "general fund", "special fund", "capital improvement fund", "debt service fund", "enterprise fund", "internal service fund", and "any other account of the local government unit" are deleted as included in the reference to "any money held by a government entity".
REVISOR'S NOTE
In paragraph (2) of this subsection, the reference to a fund for other postemployment benefits "as defined in § 17-102(a) of this title" is added to clarify that the meaning of the term "other postemployment benefits" under § 17-102(a) and this subsection is identical. This addition is consistent with Chapter 543 of the Acts of 2006, which defined the term "other postemployment benefits" for purposes of former Art. 95, § 22(b) (revised as § 17-102 of this title), but also amended the definition of "public funds", revised in this subsection, to exclude "other postemployment benefits". In the latter case, however, the term "other postemployment benefits" was not defined.