In this section, “bus rapid transit system” means a bus line that operates on at least some portion of roadway dedicated to buses and offers off–board fare collection or another form of high efficiency fare collection if a fare is charged. Beginning in fiscal year 2027 and each fiscal year thereafter, the Department shall award a grant to: Montgomery County equal to $27,000,000; and Howard County equal to $2,000,000. Montgomery County and Howard County may use the grant funds for the: Financing and refinancing of the costs related to the design, construction, acquisition, improvement, equipping, rehabilitation, and expansion of bus rapid transit system projects and other necessary facilities, equipment, and infrastructure for bus rapid transit system projects; Payment of debt service on bonds issued to finance bus rapid transit system projects; Payment of all reasonable expenses and charges related to bond issuance and borrowing; and Payment of costs relating to the management and operation of bus rapid transit system projects. If Montgomery County or Howard County uses funds under this section for the payment of debt service on bonds issued to finance bus rapid transit system projects, Montgomery County or Howard County shall issue bonds in accordance with an ordinance or resolution which may specify all matters relating to the advertisement, sale, issuance, delivery, and payment of the bonds, including: The forms, dates, and denominations of the bonds; The principal maturities; The methods to be used in determining interest payable on the bonds; and Any provisions for registration, redemption before stated maturity, or the use of facsimile signatures or seals. The Department: Shall: Develop and implement a multi–year grant agreement to administer the grant under this section which shall remain in effect until the principal of and interest on any bonds issued by Montgomery County or Howard County under this section are paid in full; and Distribute the grant under this section to Montgomery County or Howard County in a timely manner; and May not impose any additional conditions on Montgomery County or Howard County on receipt of a grant under this section.