# Sec. 11-326. Payment of principal and interest on bonds

Codified through Bill No. CB-018-2026, adopted May 12, 2026, effective July 24, 2026. Source: Municode, Supplement 2026 Update 2. Editorial notes and legislative history omitted.

## Sec. 11-326. Payment of principal and interest on bonds

Prince George's County, Md., Code § 11-326 (2026)

(a) Notwithstanding any other provision of this Division, the Council is authorized to direct the appropriate fiscal officer of Prince George's County, before disbursing any taxes collected pursuant to this Division to any fire company in the County, to withhold from such distribution an amount sufficient to provide for the payment of the principal of and interest on any bonds issued by the County for the purpose of providing funds for the construction of a fire engine house or fire engine houses in the County, including the acquisition and development of sites therefor, the architectural and engineering services incident thereto, and the acquisition and installation of necessary permanent furnishings, fixed permanent equipment and fire-fighting equipment therefor. In determining the amount to be withheld, the Council may adopt such formula as it, in its discretion, shall deem equitable and just.

(b) The Council shall determine, among other things, the amount of the bond proceeds expended in each of the fire districts as defined in this Division, the amount of money required to service the bonds issued therefor and the amount of tax revenues allocable to the fire district under any of the provisions contained in this Division, but in no event shall the bond service requirement for expenditures made in any fire district exceed the amount of tax revenues allocable to such fire district as determined in accordance with the terms and provisions of this Division.