Outstanding shares are shares of stock that have been issued. Capital stock is the number of common and preferred shares that a company is authorized to issue, and is recorded in shareholders' equity.Cuyahoga County Land Reutilization Corporation (the "Corporation") is organized and shall be operated exclusively as a county land reutilization corporation. The term "entire capital stock," as used in Section 9366, General. The policy for adopting the operating budget and the capital improvements program for Cuyahoga County is established as follows: