Ch. 551

LAWS OF MARYLAND

8-708.

(a)   [Projects] EXCEPT AS PROVIDED IN § 8-708.1 OF THIS
SUBTITLE, PROJECTS for dredging and marking channels and
harbors, construction of jetties and breakwaters, and clearing
debris, aquatic vegetation, and obstructions in navigable waters
as well as construction of marine facilities located within lands
owned by the State Department of Natural Resources shall be
financed solely by the Waterway Improvement Fund. Any funds
available from the federal government, any governing body, or any
gift also may be used for these purposes.

(b)  The governing body and the Waterway Improvement Fund
jointly shall finance projects to construct marine facilities
beneficial to the boating public. The contribution of the
Waterway Improvement Fund shall be limited to not more than 50
percent of the cost of each project. However, the Waterway
Improvement Fund may finance completely any construction project
beneficial to the boating public which costs less than $25,000
regardless of its location.

(c)  (1) The governing body shall pay its share of matching
projects under subsection (b), or shall repay the Waterway
Improvement Fund for any loan authorized under subsection (d)
either by:

(i) Means of appropriations from general funds;
or

(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 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

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