Maryland Governor - Executive and Administrative Departments Section 14-205

Article - Governor - Executive and Administrative Departments

§ 14-205.

      (a)      Except as provided in subsection (b) of this section, all proceeds received from any bonds issued and sold pursuant to this subtitle shall be applied solely for:

            (1)      The cost of purchasing, leasing, condemning, or otherwise acquiring land or other property, or an interest in them, in the designated development district area or as necessary for a right-of-way or other easement to or from the development district area;

            (2)      Site removal;

            (3)      Surveys and studies;

            (4)      Relocation of businesses or residents;

            (5)      Installation of utilities, construction of parks and playgrounds, and other necessary improvements including streets and roads to, from, or within the development district, parking, lighting, and other facilities;

            (6)      Construction or rehabilitation of buildings provided that such buildings are to be devoted to a governmental use or purpose;

            (7)      Reserves or capitalized interest;

            (8)      Necessary costs of issuing bonds; and

            (9)      Payment of the principal and interest on loans, money advanced, or indebtedness incurred by a county or municipality, for any of the purposes set out in this section.

      (b)      In addition to the authority granted in subsection (a) of this section, all proceeds received from any bonds issued and sold by Prince George's County or the revenue authority of Prince George's County pursuant to this subtitle may be applied for:

            (1)      Convention centers, conference centers, and visitors' centers;

            (2)      Maintenance of infrastructure improvements, convention centers, conference centers, and visitors' centers; and

            (3)      Marketing the development district facilities and other improvements.



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