§ 21-409

Maryland § 21-409

• Jurisdiction: Maryland
• Article glg: Local Government
• Title: 21

Text

(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.

(b) (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.

(c) (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.