Ch. 104

1997 LAWS OF MARYLAND

(c) (1) Subject to the provisions of this section, and for the purpose stated in
paragraph (2) of this subsection, the county may:

(i) Create a special taxing district;

(ii) Levy ad valorem or special taxes; and

(iii) Issue bonds and other obligations.

(2) The purpose of the authority granted under paragraph (1) of this
subsection is to provide financing, refinancing, or reimbursement for the cost of the
design, construction, establishment, extension, alteration, or acquisition of adequate
storm drainage systems, sewers, water systems, roads, bridges, culverts, tunnels, streets,
sidewalks, lighting, parking, parks and recreation facilities, libraries, schools, transit
facilities, solid waste facilities, and other infrastructure improvements as necessary,
whether situated within the special taxing district or outside the special taxing district if
the infrastructure improvement is reasonably related to other infrastructure
improvements within the special taxing district, for the development and utilization of the
land, each with respect to any defined geographic region within the county.

(3) A law enacted by Anne Arundel County under the authority of this

section:

(i) Shall specify the types of infrastructure and related costs that may

be financed:

(ii) Shall require:

1. Reasonable disclosure in the real estate contract to buyers of
real property within a special taxing district of any special assessment, special tax, or
other fee or charge for which the buyer would be liable due to the special taxing district;

2. That a seller's failure to provide the disclosure required
under subitem 1 of this item renders the contract voidable at the option of the buyer

before the date of settlement; and

3. That adequate debt service reserve funds be maintained;

(iii) May not allow:

1. Acceleration of assessments or taxes by reason of bond

default: or

2. An increase in the maximum special assessments, special
taxes, or other fees or charges applicable to any individual property in the event that
other property owners become delinquent in the payment of a special assessment, special
tax. or other fee or charge securing special obligation debt issued under this section; and

(iv) May provide:

1. For exemptions, deferrals, and credits; and

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