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1148 LAWS OF MARYLAND Ch. 350
district; providing that this Act shall apply to any
development district and special funds created prior to a
certain date; and generally relating to the disposition of
any amounts retained during any fiscal year in any special
fund for a development district.
BY repealing and reenacting, with amendments,
Article 41 - Governor - Executive and Administrative
Departments
Section 266JJ-8
Annotated Code of Maryland
(1982 Replacement Volume)
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SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article 41 - Governor - Executive and Administrative
Departments
266JJ-8.
(a) When no bonds authorized by this Act are outstanding
with respect to a development district and the governing body of
the county or municipality so determines, moneys in the special
fund for that development district created pursuant to Section
266JJ-6(3)(ii) may be:
(1) Used for any of the purposes described in Section
266JJ-5;
(2) Accumulated for payment of debt service on bonds
subsequently issued under this Act; [or]
(3) Used to pay or to reimburse the county or
municipality for debt service which the county or municipality is
obligated to pay or has paid (whether such obligation is general
or limited) on bonds issued by the State of Maryland, or any
agency or department [of] OR political subdivision thereof, the
proceeds of which have been used for any of the purposes
specified in Section 266JJ-5; OR
(4) PAID TO THE COUNTY OR MUNICIPALITY TO PROVIDE
FUNDS TO BE USED FOR ANY LEGAL PURPOSE AS MAY BE DETERMINED BY
THE COUNTY OR MUNICIPALITY.
(b) When any bonds authorized by this Act are outstanding
with respect to a development district and the governing body of
the county or municipality so determines, moneys in the special
fund for that development district created pursuant to Section
266JJ-6(3)(ii) may be used as provided in subsection (a) of this
section in any fiscal year by the county or municipality, but
only to the extent that:
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