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Unannotated Code of Maryland (Last Updated: May 16, 2014) |
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LOCAL GOVERNMENT |
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DIVISION IV. LOCAL FINANCE |
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TITLE 21. SPECIAL TAXING DISTRICTS |
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SUBTITLE 4. MUNICIPAL SPECIAL TAXING DISTRICTS |
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PART II. MUNICIPAL SPECIAL TAXING DISTRICTS FOR INFRASTRUCTURE IMPROVEMENTS |
§ 21-407. Definitions
Latest version.
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(a) In general. -- In this part the following words have the meanings indicated.
** REVISOR'S NOTE
This subsection formerly was Art. 23A, § 44A(a)(1).
** REVISOR'S NOTE
The only change is in style.
(b) Bond. -- "Bond" means a revenue bond, note, or other similar instrument issued by a municipality in accordance with this part.
** REVISOR'S NOTE
This subsection formerly was Art. 23A, § 44A(a)(2).
** REVISOR'S NOTE
The only changes are in style.
** DEFINED TERM:
"Municipality" § 1-101
**
(c) Cost. -- "Cost" includes the cost of: **
(1) construction, reconstruction, and renovation; **
(2) acquisition of structures, real or personal property, rights, rights-of-way, franchises, easements, and interests acquired or to be acquired by the Maryland Economic Development Corporation, the State, a unit or political subdivision of the State, or another governmental unit having jurisdiction over the infrastructure improvement; **
(3) machinery and equipment, including machinery and equipment needed to expand or enhance municipal services to a special taxing district; **
(4) financing charges and interest before and during construction and, if the municipality considers it advisable, for a limited period after completion of the construction; **
(5) interest and reserves for principal and interest, including the cost of municipal bond insurance and any other type of financial guaranty and costs of issuance; **
(6) extensions, enlargements, additions, and improvements; **
(7) architectural, engineering, financial, and legal services; **
(8) plans, specifications, studies, surveys, and estimates of costs and revenues; **
(9) administrative expenses necessary or incident in determining to proceed with infrastructure improvements; and **
(10) other expenses necessary or incident to acquiring, constructing, and financing infrastructure improvements.
REVISOR'S NOTE
This subsection is new language derived without substantive change from former Art. 23A, § 44A(a)(3).
REVISOR'S NOTE
In item (2) of this subsection, the former reference to "lands" is deleted as included in the reference to "property".
REVISOR'S NOTE
Also in item (2) of this subsection, the former reference to a "department" of the State is deleted as included in the reference to a "unit" of the State.
DEFINED TERMS:
"Bond" § 21-407
DEFINED TERMS:
"Municipality" § 1-101
DEFINED TERMS:
"State" § 1-101
**
(d) MEDCO obligation. -- "MEDCO obligation" means any debt instrument that the Maryland Economic Development Corporation issues for the purposes stated in § 21-410(a)(2) of this subtitle.
REVISOR'S NOTE
This subsection is new language derived without substantive change from former Art. 23A, § 44A(a)(4).
REVISOR'S NOTE
The reference to any "debt" instrument is substituted for the former reference to any "bond, note, or other similar" instrument to avoid use of the defined term "bond".
REVISOR'S NOTE
The former reference to bonds issued "under authority other than this section" is deleted as unnecessary because this part does not grant any authority to MEDCO to issue bonds.
REVISOR'S NOTE
The former reference to debt that the Maryland Economic Development Corporation issues "to finance" the purposes stated in § 21-410(a)(2) is deleted as surplusage.
REVISOR'S NOTE
The former reference to the purposes specified in subsection "(d)(3)" of this section (revised as § 21-421 of this subtitle) is deleted as unnecessary because former subsection (d)(3) served to restrict the use of bond proceeds to certain purposes and did not expand on the authorized purposes of this part.
REVISOR'S NOTE
The former reference to purposes "only with respect to infrastructure improvements located in or supporting a transit-oriented development or a State hospital redevelopment" is deleted as unnecessary in light of the cross-reference to § 21-410(a)(2) of this subtitle. **
(e) State hospital redevelopment. -- "State hospital redevelopment" means any combination of private or public commercial, residential, or recreational uses, improvements, and facilities that: **
(1) is part of a comprehensive coordinated development plan or strategy involving property that: **
(i) was occupied formerly by a State facility, as defined in § 10-101 of the Health - General Article, or a State residential center, as defined in § 7-101 of the Health - General Article; or **
(ii) is adjacent or reasonably proximate to property that was occupied formerly by a State facility, as defined in § 10-101 of the Health - General Article, or a State residential center, as defined in § 7-101 of the Health - General Article; **
(2) in accordance with design development principles, maximizes use of the property by those constituencies it is intended to serve; and **
(3) is designated as a State hospital redevelopment by: **
(i) the Smart Growth Subcabinet established under § 9-1406 of the State Government Article; and **
(ii) the local government or multicounty agency with land use and planning responsibility for the relevant area.
REVISOR'S NOTE
This section formerly was Art. 23A, § 44A(a)(5).
REVISOR'S NOTE
The only changes are in style.
DEFINED TERM:
"State" § 1-101
**
(f) Transit-oriented development. -- "Transit-oriented development" has the meaning stated in § 7-101 of the Transportation Article.
REVISOR'S NOTE
This subsection formerly was Art. 23A, § 44A(a)(6).
REVISOR'S NOTE
No changes are made.