If no bonds authorized by this part are outstanding with respect to a special taxing district, the governing body of the municipality may use money in the special fund for:
(1) any purpose specified in this part;
(2) paying debt service on bonds to be issued later;
(3) payment or reimbursement of debt service that the municipality is obligated under a general or limited obligation to pay, or has paid, on MEDCO obligations or any bond, note, or other similar instrument issued by the State or by any unit or political subdivision of the State, the proceeds of which were used for any purpose specified in this part; or
(4) payment to the municipality to provide money for any legal purpose as determined by the governing body of the municipality.
Structure Maryland Statutes
Title 21 - Special Taxing Districts
Subtitle 4 - Municipal Special Taxing Districts
Part II - Municipal Special Taxing Districts for Infrastructure Improvements
Section 21-408 - Application and Construction of Part
Section 21-409 - Authority Granted
Section 21-410 - Purpose of Authority
Section 21-411 - Public Hearing Requirements
Section 21-413 - Use of Special Fund When No Bonds Outstanding
Section 21-415 - Termination of Special Taxing District
Section 21-416 - Investment of Special Fund and Sinking Funds
Section 21-417 - Bonds Authorized
Section 21-418 - Conditions of Issuance
Section 21-419 - Bonds Are Securities
Section 21-420 - Payment of Bonds