PARRIS N. GLENDENING, Governor

Ch. 549

(4) All bonds shall be sold in the manner, either at public or private sale,
and upon the terms as the governing body of the municipal corporation deems best. Any
contract for the acquisition of property may provide that payment shall be made in bonds.
Bonds issued under this section are not subject to Article 31, §§ 9, 10, and 11 of the Code.

(j) Bonds issued under this section are securities:

(1) In which all public officers and public bodies of the State and its political
subdivisions, all insurance companies, State banks and trust companies, national banking
associations, savings banks, savings and loan associations, investment companies,
executors, administrators, trustees and other fiduciaries may properly and legally invest
funds, including capital in their control or belonging to them; and

(2) Which may properly and legally be deposited with and received by any
State or municipal officer or any agency or political subdivision of the State for any
purpose for which the deposit of bonds or obligations of the State is now or may hereafter
be authorized by law.

(k) The powers granted under this section shall be regarded as supplemental and
additional to powers conferred by other laws, and may not be regarded as in derogation
of any powers now existing.

(1) This section, being necessary for the welfare of the State and its residents,
shall be liberally construed to effect the purpose stated in subsection (b)(2) of this
section.

(M) NOTWITHSTANDING THE PROVISIONS OF THE CHARTER, BYLAWS, OR
CODE OF A MUNICIPAL CORPORATION, A MUNICIPAL CORPORATION SHALL HOLD A
PUBLIC HEARING AFTER NOT LESS THAN 10 DAYS NOTICE, PUBLISHED IN A
NEWSPAPER OF GENERAL CIRCULATION IN THE MUNICIPAL CORPORATION,
BEFORE AN ORDINANCE OR RESOLUTION THAT DESIGNATES A SPECIAL TAXING
DISTRICT, AUTHORIZES THE ISSUANCE OF BONDS, OR LEVIES AD VALOREM TAXES
OR SPECIAL TAXES UNDER THE PROVISIONS OF THIS SECTION MAY BE FINALLY
ENACTED.

(N) (1) AS AN ALTERNATIVE TO LEVYING AD VALOREM TAXES UNDER THIS
SECTION, THE GOVERNING BODY OF THE MUNICIPAL CORPORATION MAY LEVY
SPECIAL TAXES ON PROPERTY IN A SPECIAL TAXING DISTRICT TO COVER THE COST
OF INFRASTRUCTURE IMPROVEMENTS.

(2) IN DETERMINING THE BASIS FOR AND AMOUNT OF THE TAX, THE
COST OF AN IMPROVEMENT MAY BE CALCULATED AND LEVIED:

(I) EQUALLY PER FRONT FOOT, LOT, PARCEL, DWELLING UNIT OR
SQUARE FOOT;

(II) ACCORDING TO THE VALUE OF THE PROPERTY AS
DETERMINED BY THE GOVERNING BODY, WITH OR WITHOUT REGARD TO
IMPROVEMENTS ON THE PROPERTY; OR

(III) IN ANY OTHER REASONABLE MANNER THAT RESULTS IN
FAIRLY ALLOCATING THE COST OF THE INFRASTRUCTURE IMPROVEMENTS.

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