Maryland Statutes
Subtitle 3 - Redevelopment Bonds
Section 12-305 - Security for Bonds

(a)    Except as provided in subsection (b) of this section, the ordinance or resolution described in § 12-303 of this subtitle may provide that a bond may be secured and made payable from any combination of:
        (1)    a pledge of the full faith and credit of the political subdivision and payable by taxes of general applicability;
        (2)    an increase in real property tax revenues that is attributable to increases in assessed value in designated blighted areas resulting from carrying out the purposes for which the bond is issued;
        (3)    revenues of the project or undertaking for which the bond is issued;
        (4)    proceeds of bonds; or
        (5)    other money that may be legally made available to pay the bond.
    (b)    A bond issued by Baltimore City may not be secured under subsection (a)(2) of this section.

Structure Maryland Statutes