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Current as of December 31, 2021 | Updated by FindLaw Staff
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.
Cite this article: FindLaw.com - Maryland Code, Local Government § 21-519 - last updated December 31, 2021 | https://codes.findlaw.com/md/local-government/md-code-local-govt-sect-21-519.html
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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