§ 21–421
Statutes in effect as of October 1, 2026.
Md. Code Ann., Local Gov't § 21-421 (2026)
Title 21. Special Taxing Districts
Subtitle 4. Municipal Special Taxing Districts
§ 21–421LinkCopy Citation
Bond proceeds shall be used only to pay the cost of infrastructure improvements, including:
(1)
the cost of establishing, acquiring, designing, constructing, extending, or altering infrastructure improvements;
(2)
the cost of issuing bonds;
(3)
payment of the principal of and interest on loans, money advances, or indebtedness incurred by the municipality for any purpose stated in § 21–410(a) of this subtitle, including refunding of bonds previously issued; and
(4)
funding of a debt service reserve fund or payment of interest before, during, or for a limited period of time after constructing the infrastructure improvements.