§ 21-415

Maryland § 21-415

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

Text

(a) A special taxing district established under this part shall be terminated if:

(1) no bonds authorized by this part are outstanding with respect to the special taxing district;

(2) no MEDCO obligations to which a municipality has pledged revenues under this part are outstanding with respect to the special taxing district; and

(3) the governing body of the municipality determines not to use money in the special fund for payment of costs of:

(i) infrastructure improvements located in or supporting a transit–oriented development or a State hospital redevelopment; or

(ii) operating and maintaining infrastructure improvements located in or supporting a transit–oriented development or a State hospital redevelopment.

(b) Any money remaining in the special fund on the date of termination of the special taxing district may be paid to the general fund of the municipality.