Section 18-207 – Refunding Bonds
(a) If any bonds are issued under this title subject to redemption or repurchase, the Commission may: (1) redeem or repurchase the bonds at the stated redemption prices plus accrued interest; and (2) issue and sell refunding bonds as provided under this section to provide funds for the redemption or repurchase. (b) (1) The refunding bonds may be: (i) issued in […]
Section 18-208 – Tax Anticipation Notes
(a) (1) The Commission may borrow money to meet its expenses, including debt service for any bonds issued under this title, within either county by issuing tax anticipation notes. (2) The tax anticipation notes shall: (i) bear interest at an annual rate that the Commission determines to be advantageous and in the public interest; and (ii) be signed by the […]
Section 18-209 – Pledge of Tax Proceeds
(a) The revenues derived from the collection of the taxes authorized under this title shall pay the principal of and interest on bonds issued under this title. (b) (1) If the revenues from the taxes are inadequate to pay the principal of and interest on the bonds, the county guaranteeing the bonds shall impose, in each year the […]
Section 18-210 – Tax Status of Bonds
The principal amount of bonds issued under this title, the interest on the bonds, transfer of the bonds, and any income derived from the bonds, including any profit from the sale or transfer of the bonds, are exempt from State and local taxes.
Section 18-211 – Application of Other Laws
The sale of the bonds under this title is exempt from §§ 19–205 and 19–206 of the Local Government Article.
Section 18-301 – Construction of Subtitle
Any provision of this subtitle or this division that provides that a tax imposed for the Commission shall be imposed and collected as county taxes are imposed and collected, have the same priority rights, bear the same interest and penalties, and in any other respect be treated the same as a county tax: (1) applies only […]
Section 18-302 – Imposition of Taxes on Property Assessed for County Taxation
The taxes imposed under this subtitle shall be imposed on property assessed for the purpose of county taxation.
Section 18-115 – Adoption by County Governing Bodies
(a) On or before adoption of its annual budget and appropriations resolution, each county governing body shall adopt the 6–year capital improvements program: (1) each even–numbered calendar year in Montgomery County; and (2) each year in Prince George’s County. (b) (1) Each county governing body shall hold a public hearing before adopting the 6–year capital improvements program. (2) The public hearing […]
Section 18-303 – Exemption From Limitations for Prince George’s County
Notwithstanding any provision of charter or law, the taxes authorized under this subtitle are not subject to any limitation on the tax rate or tax revenues of Prince George’s County.
Section 18-116 – Amendment of Approved Program in Montgomery County
In Montgomery County, the County Council may amend an approved 6–year capital improvements program at any time by an affirmative vote of six of its members.