Within forty-five (45) days from the date of the county council’s receipt of all of the information required to be furnished in connection with a proposed bond guarantee or from the date of deferral of a portion of such information by the county executive, whichever first occurs, the county council shall hold a public hearing. The public hearing shall be held after not less than fifteen (15) days’ notice by publication in a newspaper having general circulation in the county, giving the time, place and date of the hearing to afford an opportunity for the public to review the projects proposed to be benefited by the bond guarantee. After considering the recommendations of the county executive and after the public hearing, the county council shall approve, approve with modifications, or disapprove, the proposed bond guarantee, and shall by resolution specify such terms and conditions as it shall deem advisable for an approved bond guarantee. The terms and conditions shall include the maximum interest payable, the terms of the bond issue, the purposes for which the bond funds may be expended, and the method for controlling the expenditures of the bond funds and the revenues and expenditures for projects financed by the bond funds. (1978 L.M.C., ch. 36, § 2; 1983 L.M.C., ch. 32, § 1.)
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