<section article="glg" article_name="Local Government" number="22-101" title_number="22" title_name="Resilience Infrastructure" subtitle_number="1"> <level label="a"> <text>In this title the following words have the meanings indicated.</text> </level> <level label="b"> <level label="1"> <text>“Bond” means an obligation for the payment of money, by whatever name known or source of funds secured, issued by a local government or Resilience Authority under State and local general or special statutory authority.</text> </level> <level label="2"> <text>“Bond” includes a refunding bond, a note, and any other obligation.</text> </level> </level> <level label="c"> <text>“Capital costs” means costs incurred for acquisition, planning, design, construction, repair, renovation, reconstruction, expansion, site improvement, and capital equipping.</text> </level> <level label="d"> <text>“Chief executive” means the president, the chair, the mayor, the county executive, or any other chief executive officer or head of a local government.</text> </level> <level label="e"> <text>“Climate change” includes sea level rise, nuisance flooding, increased rainfall events, erosion, and temperature rise.</text> </level> <level label="f"> <text>“Local government” means a county or municipality.</text> </level> <level label="g"> <text>“Resilience Authority” means an authority incorporated by one or more local governments in accordance with this title whose purpose is to undertake or support resilience infrastructure projects.</text> </level> <level label="h"> <level label="1"> <text>“Resilience infrastructure” means infrastructure that mitigates the effects of climate change.</text> </level> <level label="2"> <text>“Resilience infrastructure” includes flood barriers, green spaces, building elevation, and stormwater infrastructure.</text> </level> </level> <level label="i"> <text>“Resilience infrastructure project” means a project to finance or refinance the capital costs associated with resilience infrastructure.</text> </level> </section> <section article="glg" article_name="Local Government" number="22-102" title_number="22" title_name="Resilience Infrastructure" subtitle_number="1"> <level label="a"> <text>A local government may create a Resilience Authority by local law in accordance with this title.</text> </level> <level label="b"> <text>A local law adopted under this section:</text> <level label="1"> <text>is administrative in nature; and</text> </level> <level label="2"> <text>is not subject to referendum.</text> </level> </level> <level label="c"> <text>Notwithstanding any other provision of law or charter provision, subsection (a) of this section is self–executing and fully authorizes a local government to establish a Resilience Authority.</text> </level> <level label="d"> <text>A local law adopted under subsection (a) of this section shall include proposed articles of incorporation of the Resilience Authority that state:</text> <level label="1"> <text>the name of the Resilience Authority, which shall be “Resilience Authority of (name of the incorporating local government)”;</text> </level> <level label="2"> <text>that the Resilience Authority is formed under this title;</text> </level> <level label="3"> <text>the names, addresses, and terms of office of the initial members of the board of directors of the Resilience Authority;</text> </level> <level label="4"> <text>the address of the principal office of the Resilience Authority;</text> </level> <level label="5"> <text>the purposes for which the Resilience Authority is formed; and</text> </level> <level label="6"> <text>the powers of the Resilience Authority, subject to the limitations on the powers of a Resilience Authority under this title.</text> </level> </level> <level label="e"> <level label="1"> <text>The chief executive of the incorporating local government, or any other official designated in the local law establishing the Resilience Authority, shall execute and file the articles of incorporation of the Resilience Authority for record with the State Department of Assessments and Taxation.</text> </level> <level label="2"> <text>When the State Department of Assessments and Taxation accepts the articles of incorporation for record:</text> <level label="i"> <text>the Resilience Authority becomes a body politic and corporate and an instrumentality of the incorporating local government; and</text> </level> <level label="ii"> <text>the Chief Executive of the incorporating local government, or any other official designated in the local law establishing the Resilience Authority, shall submit the articles of incorporation, in accordance with § 2–1257 of the State Government Article, to:</text> <level label="1"> <text>the Senate Budget and Taxation Committee and the Senate Education, Health, and Environmental Affairs Committee; and</text> </level> <level label="2"> <text>the House Appropriations Committee and the House Environment and Transportation Committee.</text> </level> </level> </level> <level label="3"> <text>Acceptance of the articles of incorporation for record by the State Department of Assessments and Taxation is conclusive evidence of the formation of the Resilience Authority.</text> </level> </level> <level label="f"> <level label="1"> <text>The local governing body shall approve any amendment to the articles of incorporation of the Resilience Authority.</text> </level> <level label="2"> <text>Articles of amendment may contain any provision that lawfully could be contained in articles of incorporation at the time of the amendment.</text> </level> <level label="3"> <text>The articles of amendment shall be filed for record with the State Department of Assessments and Taxation.</text> </level> <level label="4"> <text>The articles of amendment are effective as of the time the State Department of Assessments and Taxation accepts the articles for record.</text> </level> <level label="5"> <text>Acceptance of the articles of amendment for record by the State Department of Assessments and Taxation is conclusive evidence that the articles have been lawfully and properly adopted.</text> </level> </level> <level label="g"> <level label="1"> <text>Subject to the provisions of this title and any limitations imposed by law on the impairment of contracts, the incorporating local government, in its sole discretion, by local law may:</text> <level label="i"> <text>set or change the powers, structure, organization, procedures, programs, or activities of the Resilience Authority;</text> </level> <level label="ii"> <text>determine the revenue sources of the Resilience Authority, including the use of general fund revenue and general obligation bonds;</text> </level> <level label="iii"> <text>establish the budgetary and financial procedures of the Resilience Authority; and</text> </level> <level label="iv"> <text>terminate the Resilience Authority.</text> </level> </level> <level label="2"> <text>On termination of a Resilience Authority:</text> <level label="i"> <text>title to all property of the Resilience Authority shall be transferred to and be vested in the incorporating local government; and</text> </level> <level label="ii"> <text>all obligations of the Resilience Authority shall be transferred to and assumed by the incorporating local government.</text> </level> </level> </level> </section> <section article="glg" article_name="Local Government" number="22-103" title_number="22" title_name="Resilience Infrastructure" subtitle_number="1"> <level label="a"> <text>Officers governing the Resilience Authority and employees of a Resilience Authority shall be appointed or hired as provided by local law.</text> </level> <level label="b"> <text>Except as otherwise provided in this title or the local law establishing the Resilience Authority, the procedures of the incorporating local government control any personnel matter relating to the internal administration of the Resilience Authority.</text> </level> </section> <section article="glg" article_name="Local Government" number="22-104" title_number="22" title_name="Resilience Infrastructure" subtitle_number="1"> <text>Except as necessary to pay debt service or implement the public purposes or programs of the incorporating local government, the net earnings of a Resilience Authority may benefit only the incorporating local government and may not benefit any person.</text> </section> <section article="glg" article_name="Local Government" number="22-105" title_number="22" title_name="Resilience Infrastructure" subtitle_number="1"> <level label="a"> <text>Except as limited by the local law establishing the Resilience Authority or its articles of incorporation, a Resilience Authority has all the powers under this title.</text> </level> <level label="b"> <text>A Resilience Authority has and may exercise all powers necessary or convenient to undertake, finance, manage, acquire, own, convey, or support resilience infrastructure projects, including the power to:</text> <level label="1"> <text>acquire by purchase, lease, or other legal means, but not by eminent domain, property for resilience infrastructure;</text> </level> <level label="2"> <text>establish, construct, alter, improve, equip, repair, maintain, operate, and regulate resilience infrastructure owned by the incorporating local government or the Resilience Authority;</text> </level> <level label="3"> <text>receive money from its incorporating local government, the State, other governmental units, or private organizations;</text> </level> <level label="4"> <text>charge and collect fees for its services;</text> </level> <level label="5"> <text>subject to the approval of the local governing body, charge and collect fees to back its bond issuances;</text> </level> <level label="6"> <text>have employees and consultants as it considers necessary;</text> </level> <level label="7"> <text>use the services of other governmental units; and</text> </level> <level label="8"> <text>act as necessary or convenient to carry out the powers granted to it by law.</text> </level> </level> </section> <section article="glg" article_name="Local Government" number="22-106" title_number="22" title_name="Resilience Infrastructure" subtitle_number="1"> <level label="a"> <text>Notwithstanding any other provision of law, a Resilience Authority may issue and sell bonds periodically:</text> <level label="1"> <text>for resilience infrastructure projects;</text> </level> <level label="2"> <text>to refund outstanding bonds;</text> </level> <level label="3"> <text>to pay the costs of preparing, printing, selling, and issuing the bonds;</text> </level> <level label="4"> <text>to fund reserves; and</text> </level> <level label="5"> <text>to pay the interest on the bonds in the amount and for the period the Resilience Authority considers reasonable.</text> </level> </level> <level label="b"> <text>Bonds issued by a Resilience Authority are limited obligations and are not a pledge of the faith and credit or taxing power of an incorporating local government.</text> </level> </section> <section article="glg" article_name="Local Government" number="22-107" title_number="22" title_name="Resilience Infrastructure" subtitle_number="1"> <level label="a"> <text>For each issue of its bonds, a Resilience Authority shall adopt a resolution that:</text> <level label="1"> <text>specifies and describes the resilience infrastructure;</text> </level> <level label="2"> <text>generally describes the public purpose to be served and the financing transaction;</text> </level> <level label="3"> <text>specifies the maximum principal amount of the bonds that may be issued; and</text> </level> <level label="4"> <text>imposes terms or conditions on the issuance and sale of bonds it considers appropriate.</text> </level> </level> <level label="b"> <text>A Resilience Authority, by resolution, may:</text> <level label="1"> <text>specify, determine, prescribe, and approve matters, documents, and procedures that relate to the authorization, sale, security, issuance, delivery, and payment of and for the bonds;</text> </level> <level label="2"> <text>create security for the bonds;</text> </level> <level label="3"> <text>provide for the administration of bond issues through trust or other agreements with a bank or trust company that cover a countersignature on a bond, the delivery of a bond, or the security for a bond; and</text> </level> <level label="4"> <text>take other action it considers appropriate concerning the bonds.</text> </level> </level> </section> <section article="glg" article_name="Local Government" number="22-108" title_number="22" title_name="Resilience Infrastructure" subtitle_number="1"> <level label="a"> <text>The principal of and interest on bonds, the transfer of bonds, and any income derived from the bonds, including profits made in their sale or transfer, are forever exempt from State and local taxes.</text> </level> <level label="b"> <text>A contract for a resilience infrastructure project may provide that payment shall be made in bonds.</text> </level> <level label="c"> <text>A bond is not subject to the limitations of §§ 19–205 and 19–206 of this article.</text> </level> </section> <section article="glg" article_name="Local Government" number="22-109" title_number="22" title_name="Resilience Infrastructure" subtitle_number="1"> <text>A finding by the local governing authority or the board of directors of a Resilience Authority as to the public purpose of an action taken under this title, and the appropriateness of that action to serve the public purpose, is conclusive in a proceeding involving the validity or enforceability of a bond, or security for a bond, issued under this title.</text> </section> <section article="glg" article_name="Local Government" number="22-110" title_number="22" title_name="Resilience Infrastructure" subtitle_number="1"> <text>Notwithstanding any other provision of law or charter, the local governing body may dedicate any revenues of the local government for repayment of bonds and to support the operations or resilience infrastructure projects of a Resilience Authority.</text> </section> <section article="glg" article_name="Local Government" number="22-111" title_number="22" title_name="Resilience Infrastructure" subtitle_number="1"> <text>If multiple counties or municipalities establish a Resilience Authority:</text> <level label="1"> <text>each shall be considered an incorporating local government; and</text> </level> <level label="2"> <text>the counties or municipalities shall file jointly articles of incorporation or articles of amendment in accordance with § 22–102 of this subtitle.</text> </level> </section> <section article="glg" article_name="Local Government" number="22-112" title_number="22" title_name="Resilience Infrastructure" subtitle_number="1"> <text>Nothing in this title may be construed to:</text> <level label="1"> <text>prohibit the local governments of multiple counties or municipalities from establishing through joint action a Resilience Authority in accordance with this title; or</text> </level> <level label="2"> <text>authorize a Resilience Authority to levy a tax.</text> </level> </section> <section article="glg" article_name="Local Government" number="22-113" title_number="22" title_name="Resilience Infrastructure" subtitle_number="1"> <level label="a"> <text>On a date and in a format designated by the incorporating local government, a Resilience Authority shall, at least annually, report to the incorporating local government on the activities of the Resilience Authority.</text> </level> <level label="b"> <level label="1"> <text>Subject to paragraph (2) of this subsection, on or before the January 1 after a Resilience Authority is established by a local government in accordance with this title, and on or before January 1 each year thereafter, the Resilience Authority shall submit a report in accordance with § 2–1257 of the State Government Article to:</text> <level label="i"> <text>the Senate Budget and Taxation Committee and the Senate Education, Health, and Environmental Affairs Committee; and</text> </level> <level label="ii"> <text>the House Appropriations Committee and the House Environment and Transportation Committee.</text> </level> </level> <level label="2"> <text>The report required under paragraph (1) of this subsection shall include, at a minimum:</text> <level label="i"> <text>a copy of the report required under subsection (a) of this section;</text> </level> <level label="ii"> <text>a description of the resilience infrastructure projects funded by the Resilience Authority; and</text> </level> <level label="iii"> <text>the sources of revenue for the resilience infrastructure projects undertaken by the Resilience Authority.</text> </level> </level> </level> </section>