Ch. 11

LAWS OF MARYLAND

(9) Payment of the principal and interest on loans,
money advanced, or indebtedness incurred by a county or
municipality, for any of the purposes set out' in this section.

14-207.

The governing body of any county or municipality may adopt a
resolution creating a special fund described in Section
14-206(3)(ii) of this [subheading] SUBTITLE with respect to a
development district, even though no bonds authorized by this Act
have been issued by such county of municipality with respect to
that development district or are then outstanding. The taxes
allocated to such special fund by Section 14-206(3)(ii) of this
[subheading] SUBTITLE shall thereafter be paid over to such
special fund, as long as such resolution remains in effect. Any
taxes that could have been allocated to the special fund
authorized by Section l4-206(3)(ii) of this [subheading] SUBTITLE
and that have actually been set aside for that purpose, after
July 1, 1980, by a county or municipality in its budget may be
placed in the special fund created after that date under this
section or under Section 14-206(3)(ii) of this [subheading]
SUBTITLE.

14-208.

(a) When no bonds authorized by this [Act] SUBTITLE 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 § 14-206(3)(ii) of this [subheading] SUBTITLE may be:

(1)  Used for any of the purposes described in §
14-205 of this [subheading] SUBTITLE;                                       

(2)  Accumulated for payment of debt service on bonds
subsequently issued under this [Act] SUBTITLE;

(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
of limited) on bonds issued by the State of Maryland, or any
agency, department, of political subdivision thereof, the
proceeds of which have been used for any of the purposes
specified in § 14-205 of this [subheading] SUBTITLE; 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] SUBTITLE 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

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