§ 21-409
307 words·~1 min read·
/md/local-government/21-409A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§21–409.
(a)For any purpose stated in § 21–410(a)(1) of this subtitle, a municipality may:
(1)establish a special taxing district;
(2)impose ad valorem or special taxes; and
(3)issue bonds.
(1)For any purpose stated in § 21–410(a)(2) of this subtitle, a municipality may:
(i)establish special taxing districts;
(ii)impose ad valorem or special taxes; and
(iii)pledge funds under an agreement to:
1. secure payment on MEDCO obligations;
2. pay the costs of infrastructure improvements located in or supporting a transit–oriented development or a State hospital redevelopment; and
3. pay the costs of operating and maintaining infrastructure improvements located in or supporting a transit–oriented development or a State hospital redevelopment.
(2)An agreement pledging funds as described in paragraph (1)(iii) of this subsection shall:
(i)be authorized by an ordinance or resolution of the municipality;
(ii)be in writing;
(iii)be executed on behalf of the municipality making the pledge, the Maryland Economic Development Corporation, and any other person or entity that the governing body of the municipality determines; and
(iv)benefit, and be enforceable on behalf of, the holders of any MEDCO obligation secured by the agreement.
(1)Notwithstanding any other provision of law, a municipality may establish a special taxing district, issue bonds, or impose an ad valorem or special tax under this part only if a request to the municipality is made by both:
(i)the owners of at least two–thirds of the assessed valuation of the real property located in the special taxing district; and
(ii)at least two–thirds of the owners of the real property located in the special taxing district.
(2)For purposes of paragraph (1)(ii) of this subsection:
(i)multiple owners of a single parcel are treated as a single owner; and
(ii)a single owner of multiple parcels is treated as one owner.