Subject to paragraph (2) of this subsection, the employer shall submit a term of a collective bargaining agreement or memorandum of understanding entered into under this subtitle to the funding body of the applicable county with the employer’s recommendation regarding whether the agreement or the mediator’s decision requires an appropriation of additional funds. The submission required under this subsection shall be made before the first meeting of the funding body of the applicable county that immediately follows an agreement being reached to ensure any relevant county budgetary deadlines are not missed. The funding body of the applicable county may approve or reject a request for additional funding under subsection (a) of this section, in whole or in part. If the funding body of the applicable county approves a request under paragraph (1) of this subsection, the funding body of the applicable county shall take all actions necessary to process the request for additional funding. If any part of a request for additional funding submitted to the funding body of the applicable county under this subsection is rejected, the request for additional funds shall be returned to the employer and the certified exclusive representative for renegotiation within the limits of the funding allocated by the funding body of the applicable county. The renegotiation shall be completed within a timetable established by the funding body of the applicable county. If an impasse is reached, the employer and the certified exclusive representative shall each submit a final offer, within the limits of the funding allocated by the funding body of the applicable county, for the review of the funding body of the applicable county. The funding body of the applicable county shall select one of the offers submitted under subparagraph (i) of this paragraph. The selection of the funding body of the applicable county is binding on all parties. The employer and the certified exclusive representative are mutually obligated to: Meet at reasonable times in consideration of the county’s budget submission date; and Negotiate in good faith on: Wages, hours, and terms and conditions of employment; and Drafting a written collective bargaining agreement that contains all matters agreed on and is signed by authorized representatives of both parties. The obligation to negotiate in good faith under paragraph (1)(ii) of this subsection: Requires that an effort be made by both parties to arrive at an agreement and reduce the agreement to writing within a reasonable period of time; and Does not require that any concession be made by either party.