§ 18-305. Montgomery County bond tax
West's Annotated Code of MarylandLand UseEffective: October 1, 2012
Effective: October 1, 2012
MD Code, Land Use, § 18-305
§ 18-305. Montgomery County bond tax
(a) Whenever bonds that the Commission issues under Subtitle 2 of this title for acquisition of property in Montgomery County are sold, the Commission shall promptly certify to the county the amount of bonds issued, the rate of interest, and the maturities.
(b) The revenue from the tax under this section shall be the primary source of revenue for the payment of the principal of and interest on the bonds.
(c) While any bond is outstanding and unpaid, the county shall impose on all property in the county in the metropolitan district an annual tax in an amount sufficient to pay the principal of and interest on the bonds.
(d) The tax shall:
Credits
Added by Acts 2012, c. 426, § 2, eff. Oct. 1, 2012.
MD Code, Land Use, § 18-305, MD LAND USE § 18-305
Current with all legislation from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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