# Economic Development (GEC)

## Title 12. Local Development Authorities and Resources

### Subtitle 3. Redevelopment Bonds

#### Section 12-305

(a) Except as provided in subsection (b) of this section, the ordinance or resolution described in Sec. 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.

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Md. Code Ann., Econ. Dev. (as displayed at mgaleg.maryland.gov, October 16, 2026)