§ 21-519
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/md/local-government/21-519·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§21–519.
A law enacted by Anne Arundel County under this subtitle:
(1)shall specify the type of infrastructure and related costs that may be financed;
(2)shall require:
(i)reasonable disclosure in a real estate contract to buyers of real property in a special taxing district of any special assessment, special tax, or other fee or charge for which the buyer would be liable due to the special taxing district; and
(ii)that, if a seller fails to provide the disclosure, the buyer may void the contract before the date of settlement;
(3)shall require adequate debt service reserve funds to be maintained;
(4)may provide:
(i)for exemptions, deferrals, and credits; and
(ii)for a lien to attach to property in a special taxing district to the extent of that property owner’s obligation under any special taxing district financing; and
(5)may not allow:
(i)acceleration of assessments or taxes by reason of bond default; or
(ii)an increase in the maximum special assessments, special taxes, or other fees or charges applicable to any individual property if other property owners become delinquent in paying a special assessment, a special tax, or any other fee or charge securing bonds issued under this subtitle.