§ 12-902. Agreements to purchase development rights

   (a) "Agreement" defined. -- In this section, "agreement" means an agreement to purchase development rights authorized under this section.

(b) Scope of section. -- This section applies only in:

   (1) Anne Arundel County;

   (2) Baltimore County;

   (3) Carroll County;

   (4) Howard County; and

   (5) Prince George's County.

(c) In general. -- A county may enter into an agreement to purchase development rights.

(d) Contents of agreement. -- Except as otherwise provided in this section, a county may determine, by resolution, the provisions, terms, conditions, and duration of an agreement.

(e) Payment obligations -- Generally. -- A payment obligation in an agreement:

   (1) is a general obligation of the county to which its full faith and credit and unlimited taxing power is pledged; and

   (2) is not subject to annual appropriation by the county.

(f) Payment obligations -- Exceptions to statutory limitations or procedures. -- A county may undertake a payment obligation in an agreement:

   (1) without regard to any limitations contained in its charter or other public local law or public general law; and

   (2) without complying with any procedures contained in its charter or other public local law or public general law.

(g) Exercise of authority constitutes exercise of borrowing power. -- The exercise of the authority granted in this section to enter into an agreement with a payment obligation for a term of years constitutes the exercise of borrowing authority.

(h) Tax exemption. -- An agreement, the transfer or assignment of the agreement, and any payment required by the agreement are exempt from taxation by the State or any county, municipality, or public agency.

HISTORY: An. Code 1957, art. 24, § 20-101, 20-102; 2013, ch. 119, § 2.