The Revenue Authority of Prince George's County may exercise all the powers and functions granted to it by State law and the Prince George's County Code regarding parking and parking facilities. The Revenue Authority may do any other and all corporate acts for the purpose of carrying out its functions regarding parking and parking facilities under State law and the Prince George's County Code.

A purpose of the Revenue Authority is to provide for the encouragement of trade and industry, the relief of conditions of unemployment, a balanced economy, the promotion of economic development through the acquisition, construction and operation of parking and related facilities for motorized and nonmotorized vehicles, and the enforcement of provisions of this Code regarding parking within Prince George's County pursuant to Subtitle 26 of the Prince George's County Code.

As used herein the term parking facilities shall mean and include any area, lot, structure, building, garage, or other means for the storage or parking of automobiles, trucks, or other motorized or nonmotorized vehicles, including vehicular and pedestrian access thereto, which may be established, constructed, erected, acquired, owned or leased, maintained, and operated by the Revenue Authority. Such term shall also mean those appurtenances such as parking meters, automatic gates, or security systems which may be acquired, owned or leased by the Revenue Authority. Any such facilities may include such space for general rental purposes as the Revenue Authority may in its discretion deem to be necessary or appropriate to be used for parking purposes. Parking facilities are hereby expressly recognized as being among the types of projects in which the Revenue Authority may engage pursuant to Section 21A-103 of this Subtitle.

On or before September 15 of each year, the Revenue Authority shall provide to the County Executive and the County Council a report of all transactions made by the Revenue Authority during the preceding fiscal year for the acquisition, operation, or alienation of any parking facility or interest therein, including any interest in the property on which the parking facility is located.

The Revenue Authority may make rules and regulations for the government and use of all land and other property or parking facilities acquired by it or under its care. It shall cause these rules and regulations to be posted on the property to which they apply. Following their promulgation, they shall be published at least two (2) consecutive weeks in the County newspapers of record, and the posting and publication shall be sufficient notice to all persons. The sworn certificate of any member of the Revenue Authority of the posting and publication shall be prima facie evidence thereof.

The Authority is authorized to assess the vehicular parking needs of the County and recommend to the County Council the establishment of specific Parking Districts. A recommendation to the County Council that a Parking District be established shall describe the metes and bounds of the proposed District and shall be accompanied by the following: An assessment of current facilities for parking within the proposed District and an assessment of current and future parking needs which could be met; A parking facilities proposal to meet the needs identified, including, but not limited to, specific structures to be erected and a time schedule for completion of the parking facilities proposed; A financial plan for funding the parking facilities proposed which may include, but need not be limited to, specific user charges proposed, any proposed intergovernmental transfer payments, an ad valorem tax rate, and any other elements of the financial plan which will generate revenues sufficient to meet principal and interest payment requirements on bond sales for the proposed parking facility and provide for operating and maintenance costs. Parking Districts shall be established by Resolution of the County Council, with the concurrence of any municipality, if applicable. The financial plan for funding parking facilities within a Parking District may be modified by legislative Act of the County Council.

The Authority shall enforce provisions of this Code regarding parking within Prince George's County pursuant to Subtitle 26 of the Prince George's County Code.