Bill No.
26-16
Concerning: Environmental Sustainabilitv
- Montgomery County Green Bank -
Amendments
Revised:
6/16/2016
Draft No.
1
Introduced:
June
21 2016
Enacted:
August
2. 2016
Executive: _ _ _ _ _ _ _ _ __
Effective: _ _ _ _ _ _ _ _ __
Sunset Date:
_,..No,,,n.,,,e~------
Ch. _ _ , Laws of Mont. Co. _ __
COUNTY COUNCIL
FOR MONTGOMERY COUNTY, MARYLAND
Lead Sponsor: Council President at the request of the County Executive
AN ACT
to:
(I)
clarify the effect of Green Bank designation on certain activities that may continue or
mature after the designation expires;
(2) revise the recommended composition of the Board of Directors; and
(3) generally amend County law regarding environment.al sustainability.
By amending
Montgomery County Code
Chapter l 8A, Environment.al Sustainability
Sections 18A-46 and 18A-47
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Added to existing law by original bill.
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Deleted from existing law or the bill by amendment.
Existing law unaffected by bill.
• • •
The County Council for Montgomery County, Maryland approves the following Act:
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BILL NO. 26-16
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Sec. 1. Sections 18A-46 and 18A-47 are amended as follows:
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18A-46. Designation.
(a)
The County Council must designate, by resolution approved by the
County Executive, a single nonprofit corporation which complies with all
requirements and criteria of this Article as the County's Green Bank.
If
the Executive disapproves the resolution within I 0 days after receiving
it, the Council may readopt the resolution with at least 6 affirmative votes.
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(b)
(I)
Except as provided in (b)(2), any designation under this Section
expires at the end of the fifth full fiscal year after the resolution is
adopted unless the Council extends the designation by adopting
another resolution under this Section.
(2)
If
the Council President does not notify the Chair of the designated
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Bank's Board of Directors, not later than June 30 of the fourth full
fiscal year of the designation term, that the Council may allow the
current designation to expire, the designation is automatically
extended for another 5-year term.
(c)
The Council at any time may suspend or revoke the designation of a
corporation as the County's Green Bank by resolution, adopted after at
least 15 days public notice, that is approved by the Executive, or, if the
Executive disapproves the resolution within I 0 days after receiving it, is
readopted by a vote of at least 6 Councilmembers.
(d)
To continue to qualify as the County's Green Bank, a corporation's
articles of incorporation and bylaws must comply with all requirements
of this Article.
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This Section may not be construed to prevent the corporation designated
as the County's Green Bank from:
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undertaking, during its designation, the following activities that
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BILL NO. 26-16
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may mature after the designation expires:
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assuming liability as guarantor, endorser, or acceptor of
obligations; and
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@)
issuing for purchase its notes, debentures, bonds, or other
obligations; or
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continuing as£! corporation and exercising any ofits functions after
expiration of its designation for purposes of orderly liguidation,
including the administration of its assets and the collection of any
obligations held hy the corporation in its capacity as the County's
Green Bank.
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18A-47. Board of Directors.
(a)
To qualify as the County's Green Bank, a corporation's Board of
Directors must have no more than 11 voting members. The corporation's
bylaws should specify that the County Executive may appoint up to 5
board members, including the Directors of Environmental Protection and
Finance, subject to confirmation by the County Council.
(b)
Each voting member should be a resident of the County. The members
of the Board of Directors should include:
(1)
representatives of residential [and] groups [low-income groups);
representatives of low-income groups;
representatives of environmental organizations;
representatives of business organizations;
persons with experience in investment or fund management;
persons with banking and lending experience;
persons with experience in the finance or deployment of
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[(2))
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[(3))
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renewable energy or energy efficiency;
[(7)
persons with expenence in research and development or
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BILL NO. 26-16
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Approved:
manufacturing of clean energy;]
(8)
the Director of the Montgomery County Department of
Environmental Protection or the Director's designee; and
(9)
the Director of the Montgomery County Department of Finance or
the Director's designee.
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Approved:
resident, County Council
Date
Isiah Leggett, County Executive
This is a correct copy ofCouncil action.
Date
Linda M. Lauer, Clerk of the Council
Date
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