§ 12–305
Statutes in effect as of October 1, 2026.
Md. Code Ann., Econ. Dev. § 12-305 (2026)
Title 12. Local Development Authorities and Resources
Subtitle 3. Redevelopment Bonds
§ 12–305LinkCopy Citation
(a)
Except as provided in subsection (b) of this section, the ordinance or resolution described in § 12-303 of this subtitle may provide that a bond may be secured and made payable from any combination of:
(1)
a pledge of the full faith and credit of the political subdivision and payable by taxes of general applicability;
(2)
an increase in real property tax revenues that is attributable to increases in assessed value in designated blighted areas resulting from carrying out the purposes for which the bond is issued;
(3)
revenues of the project or undertaking for which the bond is issued;
(4)
proceeds of bonds; or
(5)
other money that may be legally made available to pay the bond.
(b)
A bond issued by Baltimore City may not be secured under subsection (a)(2) of this section.