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§ 1-1425. Rates, rents, and fees

West's Annotated Code of MarylandLocal GovernmentEffective: October 1, 2017

West's Annotated Code of Maryland
Local Government (Refs & Annos)
Division I. Definitions; General Provisions [Titles 1-3] (Refs & Annos)
Title 1. Definitions; General Provisions (Refs & Annos)
Subtitle 14. Establishment of Land Bank Authorities (Refs & Annos)
Effective: October 1, 2017
MD Code, Local Government, § 1-1425
Formerly cited as MD LOCAL GOVT § 5-425Formerly cited as MD CODE, Art. 23A, § 76
§ 1-1425. Rates, rents, and fees
Currentness
In general
(a) An authority may:
(1) impose rates, rents, fees, and charges related to a project and for the services related to a project; and
(2) contract with any person or governmental entity to exercise its authority under this section.
Imposition and adjustment
(b) The rates, rents, fees, and charges established by an authority under this section shall be imposed and adjusted so that the aggregate amount of the rates, rents, fees, and charges from the project, when added to other available money, is sufficient to:
(1) pay for the expenses of the project;
(2) pay the principal of and the interest on the bonds that the authority issued for the project as they become due and payable; and
(3) create and maintain reserves required or provided for in a trust agreement.
Not subject to supervision or regulation by State
(c) The rates, rents, fees, and charges established by an authority under this section are not subject to supervision or regulation by any unit of the State.

Credits

Added as Local Government § 5-425 by Acts 2013, c. 119, § 2, eff. Oct. 1, 2013. Renumbered as Local Government § 1-1425 by Acts 2017, c. 618, § 1, eff. Oct. 1, 2017; Acts 2017, c. 619, § 1, eff. Oct. 1, 2017.
MD Code, Local Government, § 1-1425, MD LOCAL GOVT § 1-1425
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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