The Montgomery County Revenue Authority (MCRA), created in 1957, is an instrumentality of Montgomery County and a public corporation. Laws establishing the MCRA set up its purpose to construct, improve, equip, furnish, maintain, acquire, operate, and finance projects to be devoted wholly or partially for public use, good, or general welfare. These laws are codified in Chapter 42 of the Montgomery County Code. Governing the MCRA is a six-member Board of Directors, with five members appointed by the County Executive and confirmed by the County Council. The sixth member – the Chief Administrative Officer or designee – serves in a non-voting, ex-officio capacity. The MCRA has two primary functions, one is to operate self-supporting public facilities, and the other is to finance public facilities. On the operations side, the MCRA manages directly the Golf Course System and operates the Montgomery County Airpark. The operated facilities generate various forms of revenue, which are used to pay for operations and to provide for improvements. A portion of the operating revenues is used to retire any debt associated with operated facilities. On the public financing side, the MCRA issues bonds to raise capital, which is used to acquire land or other property, or to pay construction costs. Through a financing partnership with a broad range of agencies, the MCRA has supported important public purposes such as economic development, education, transportation, human services, and recreation. The revenues or the rent generated by the facilities are used by the Revenue Authority to retire the debt.