(a) A special taxing district established under this part shall be terminated if:
(1) no bonds authorized by this part are outstanding with respect to the special taxing district;
(2) no MEDCO obligations to which a municipality has pledged revenues under this part are outstanding with respect to the special taxing district; and
(3) the governing body of the municipality determines not to use money in the special fund for payment of costs of:
(i) infrastructure improvements located in or supporting a transit–oriented development or a State hospital redevelopment; or
(ii) operating and maintaining infrastructure improvements located in or supporting a transit–oriented development or a State hospital redevelopment.
(b) Any money remaining in the special fund on the date of termination of the special taxing district may be paid to the general fund 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