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<section article="gec" article_name="Economic Development" number="12-305" title_number="12" title_name="Local Development Authorities and Resources" subtitle_number="3" subtitle_name="Redevelopment Bonds">
  <level label="a">
    <text>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:</text>
    <level label="1">
      <text>a pledge of the full faith and credit of the political subdivision and payable by taxes of general applicability;</text>
    </level>
    <level label="2">
      <text>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;</text>
    </level>
    <level label="3">
      <text>revenues of the project or undertaking for which the bond is issued;</text>
    </level>
    <level label="4">
      <text>proceeds of bonds; or</text>
    </level>
    <level label="5">
      <text>other money that may be legally made available to pay the bond.</text>
    </level>
  </level>
  <level label="b">
    <text>A bond issued by Baltimore City may not be secured under subsection (a)(2) of this section.</text>
  </level>
</section>
