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109
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HARRY HUGHES, Governor
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(ii) Levying a special assessment or tax
against each property owner whose property lies within the
district.
(2) The governing body may accept and use any gift
for the cost of any project as part of its share of any matching
fund project.
(d) In addition to the methods of financing provided in
subsections (a) and (b) of this section, a governing body may
borrow interest-free funds from the Waterway Improvement Fund for
a waterway improvement project within a waterway improvement
district. However, the amount borrowed from the Waterway
Improvement Fund for these districts shall not exceed 21 percent
of the total attained revenue of the Waterway Improvement Fund
from the previous fiscal year. No single project shall exceed 7
percent of the total attainment. The governing body shall repay
the funds at a uniform rate over a period not to exceed 25 years
as provided by agreement between the State and the governing
body.
(e) The contribution of the [Waterways] WATERWAY
Improvement Fund shall be limited to not more than 50 percent of
the cost of each acquisition, and the total amount of funds
expended in any fiscal year for acquisitions and projects
specified in § 8-707(7) of this subtitle shall not exceed the
amount of the motor vehicle fuel tax paid to the [Waterways]
WATERWAY Improvement Fund in the preceding fiscal year, as
provided for in Article 56 § 137.
(f) Notwithstanding any other provision of this subtitle,
funds deposited in the [Waterways] WATERWAY Improvement Fund may
be used for amortization and payment of interest on bonds issued
for financing projects authorized under this subtitle.
8-709.
(a) The Department shall include in its annual budget
request an itemized list of requests for the use of any available
money from the [Waterways] WATERWAY Improvement Fund for the
projects under § 8-707. The Department's list shall include a
brief description of each project, an estimate of its cost, and
the benefits to be derived from it. The list shall designate
which projects are financed solely by the [Waterways] WATERWAY
Improvement Fund and which are matching fund projects.
(b) Notwithstanding the provisions of subsection (a) of
this section, in any fiscal year the Department may expend from
the [Waterways] WATERWAY Improvement Fund without legislative
approval a total sum of not more than $225,000. Of this amount, a
sum of not more than $125,000 may be expended for small projects
under § 8-707 (3) and (4), subject to the limitation that no one
single project of this kind may exceed $5,000 in cost to the
[waterways improvement fund] WATERWAY IMPROVEMENT FUND, and a sum
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