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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 5. DISTRICTS FOR INFRASTRUCTURE IMPROVEMENTS FOR SELECTED COUNTIES |
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PART I. DEFINITIONS; GENERAL PROVISIONS |
§ 21-501. Definitions
Latest version.
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(a) In general. -- In this subtitle the following words have the meanings indicated.
** REVISOR'S NOTE
This subsection formerly was Art. 24, § 9-1301(a)(1).
** REVISOR'S NOTE
The only change is in style.
(b) Bond. -- "Bond" means a special obligation bond, a revenue bond, a note, or any other similar instrument issued in accordance with this subtitle by a county or the revenue authority of Prince George's County.
** REVISOR'S NOTE
This subsection is new language derived without substantive change from former Art. 24, § 9-1301(a)(2).
(c) Cost. -- "Cost" includes the cost of:
(1) (i) construction, reconstruction, and renovation;
(ii) 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;
(iii) machinery and equipment, including machinery and equipment needed to expand or enhance county services to a special taxing district;
(iv) financing charges and interest before and during construction and, if the county considers it advisable, for a limited period after completion of the construction;
(v) 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;
(vi) extensions, enlargements, additions, and improvements;
(vii) architectural, engineering, financial, and legal services;
(viii) plans, specifications, studies, surveys, and estimates of cost and revenues;
(ix) administrative expenses necessary or incident to determining to proceed with infrastructure improvements; and
(x) other expenses necessary or incident to acquiring, constructing, and financing infrastructure improvements; and
(2) in Prince George's County, the cost of renovation, rehabilitation, and repair of existing buildings, internal and external structural systems, elevators, facades, mechanical systems and components, and security systems.
** REVISOR'S NOTE
This subsection is new language derived without substantive change from former Art. 24, § 9-1301(a)(3) and (4).
** REVISOR'S NOTE
In item (1)(ii) of this subsection, the former reference to "lands" is deleted as included in the reference to "property".
** REVISOR'S NOTE
Also in item (1)(ii) 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" § 21-501
** 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 § 21-504(a)(2) of this subtitle.
REVISOR'S NOTE
This subsection is new language derived without substantive change from former Art. 24, § 9-1301(a)(5).
REVISOR'S NOTE
The reference to a "debt" instrument is substituted for the former reference to a "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 subtitle 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 § 21-504(a)(2) of this subtitle is deleted as surplusage.
REVISOR'S NOTE
The former reference to the purposes specified in subsection "(e)(3)" of this section (revised as § 21-515 of this subtitle) is deleted as unnecessary because former subsection (e)(3) served to restrict the use of bond proceeds to certain purposes and did not expand on the authorized purposes of this subtitle.
REVISOR'S NOTE
The former reference to purposes stated "only with respect to infrastructure improvements located in or supporting a transit-oriented development or State hospital redevelopment" is deleted as unnecessary in light of the cross-reference to § 21-504(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 subsection formerly was Art. 24, § 9-1301(a)(6).
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. 24, § 9-1301(a)(7).
REVISOR'S NOTE
No changes are made.