FY 2017 Budget Highlights

EXHIBIT C BOND RATING ENHANCEMENT RESERVE 1-8-401 1-8-402 1-8-403 Establishment and purposes Reserve treatment in annual report Designation of fund balance 1-8-404 Build up of reserve 1-8-405 Expenditure and restoration of reserve 1-8-401 ESTABLISHMENT AND PURPOSES (A) There is a bond rating enhancement reserve. (B) The purposes of the bond rating enhancement reserve are: (I) To enhance, preserve and safeguard the bond rating of Frederick County. (2) To protect the financial integrity of Frederick County. (3) To designate fund balance for this bond rating enhancement reserve that is not to be expended absent extreme circumstances. (Ord. 03-14-337, 9-25-2003; Ord. 09-13-517, 5-19-2009) 1-8-403 DESIGNATION OF FUND BALANCE The Board of County Commissioners may designate fund balance to be placed into the bond rating enhancement reserve. (Ord. 03-14-337, 9-25-2003) 1-8-404 BUILD UP OF RESERVE (A) It is the intent of the Board of County Commissioners that the bond rating enhancement reserve shall be at an amount no less than 3% of the general fund expenditures and transfers to the Board of Education, the Frederick Community College, and the Frederick County public libraries for the prior fiscal year. 108

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