§ 21-412
89 words·~1 min read·
/md/local-government/21-412A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§21–412.
(a)By resolution, the governing body of a municipality:
(1)may designate an area as a special taxing district; and
(2)shall create a special fund with respect to the special taxing district.
(b)A resolution creating a special fund under subsection
(a)of this section shall:
(1)pledge to the special fund the proceeds of the ad valorem or special tax to be imposed as provided under § 21–414 of this subtitle; and
(2)require that the proceeds from the tax be paid into the special fund.