§ 21-409. Authority granted

   (a) In general. -- 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) Transit-oriented development or State hospital redevelopment. --

   (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) Request of owners required. --

   (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.

HISTORY: An. Code 1957, art. 23A, § 44A(b)(1), (c)(1), (f)(3), (g)(3)(ii); 2013, ch. 119, § 2; ch. 624.