Ch. 745
LAWS OF MARYLAND
(C) A LOCAL GOVERNING BODY MAY ALSO EXPEND FOR ANY OF THE
PURPOSES DESCRIBED IN SECTION 14-804(A) FUNDS PROVIDED TO THE
LOCAL GOVERNING BODY BY THE FEDERAL GOVERNMENT OR THE STATE OF
MARYLAND FOR SUCH PURPOSES, OR FUNDS OTHERWISE MADE AVAILABLE TO
OR BY THE LOCAL GOVERNING BODY AND LEGALLY AVAILABLE FOR SUCH
PURPOSES, PROVIDED, HOWEVER, THAT THE EXPENDITURE BY THE LOCAL
GOVERNING BODY OF ANY SUCH FUNDS SHALL FIRST BE AUTHORIZED IN
ACCORDANCE WITH APPLICABLE PROCEDURES OF THE LOCAL GOVERNING BODY
REGARDING THE EXPENDITURE OF PUBLIC FUNDS.
14-805.
(A) BEFORE ISSUING ANY BONDS UNDER THIS SUBTITLE THE LOCAL
GOVERNING BODY SHALL BY ORDINANCE OR ADMINISTRATIVE RESOLUTION:
(1) DESIGNATE THE AREA WITHIN ITS JURISDICTION WITH
RESPECT TO WHICH THE BONDS ARE TO BE ISSUED AS A DESIGNATED
BLIGHTED AREA, BASED ON THE SUBSTANTIAL PRESENCE OF ONE OR MORE
OF THE FOLLOWING:
(I) EXCESSIVE VACANT LAND ON WHICH STRUCTURES
WERE PREVIOUSLY LOCATED;
(II) ABANDONED OR VACANT BUILDINGS;
(III) SUBSTANDARD STRUCTURES;
(IV) DELINQUENCIES IN THE PAYMENT OF REAL
PROPERTY TAXES; OR
(V) SIMILAR FACTORS THAT THE LOCAL GOVERNING
BODY DETERMINES TO BE INDICATIVE OF BLIGHT;
(2) DESIGNATE AND DETERMINE THE. FINANCED AREA WITH
RESPECT TO WHICH THE PROCEEDS OF THE BONDS ARE TO BE USED; AND
(3) ADOPT A REDEVELOPMENT PLAN WITH RESPECT TO THE
DESIGNATED BLIGHTED AREA.
(B) IF A COUNTY DESIGNATES A BLIGHTED AREA OR FINANCED AREA
THAT ALSO IS SITUATED, IN WHOLE OR IN PART, WITHIN THE
JURISDICTION OF A MUNICIPALITY, THE MUNICIPALITY BY ORDINANCE OR
ADMINISTRATIVE RESOLUTION MUST CONSENT TO THE DESIGNATION OF THE
BLIGHTED AREA OR THE FINANCED AREA TO THE EXTENT THAT EITHER IS
SITUATED WITHIN THE JURISDICTION OF THE MUNICIPALITY, THE COUNTY
WITHIN WHICH THE MUNICIPALITY IS LOCATED MUST BY ORDINANCE OR
ADMINISTRATIVE RESOLUTION. CONSENT TO THE DESIGNATION BY THE
MUNICIPALITY OF A DESIGNATED BLIGHTED AREA OR A FINANCED AREA.
(C) IN THE EVENT THAT BONDS ARE ISSUED BY A LOCAL GOVERNING
BODY UNDER THIS SUBTITLE AS QUALIFIED REDEVELOPMENT BONDS UNDER
THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, THE LOCAL
GOVERNING BODY, IN DETERMINING THE DESIGNATED BLIGHTED AREA AND
- 3354 -
|