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§ 21-519. Anne Arundel County

MD Local Gov Code § 21-519 (2019) (N/A)
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A law enacted by Anne Arundel County under this subtitle:

(1)    shall specify the type of infrastructure and related costs that may be financed;

(2)    shall require:

(i)    reasonable disclosure in a real estate contract to buyers of real property in a special taxing district of any special assessment, special tax, or other fee or charge for which the buyer would be liable due to the special taxing district; and

(ii)    that, if a seller fails to provide the disclosure, the buyer may void the contract before the date of settlement;

(3)    shall require adequate debt service reserve funds to be maintained;

(4)    may provide:

(i)    for exemptions, deferrals, and credits; and

(ii)    for a lien to attach to property in a special taxing district to the extent of that property owner’s obligation under any special taxing district financing; and

(5)    may not allow:

(i)    acceleration of assessments or taxes by reason of bond default; or

(ii)    an increase in the maximum special assessments, special taxes, or other fees or charges applicable to any individual property if other property owners become delinquent in paying a special assessment, a special tax, or any other fee or charge securing bonds issued under this subtitle.

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§ 21-520. Cecil County