{"data":{"id":"us-md/md.-code-local-government-21-612","jurisdiction":"us-md","citation":"Md. Code, Local Government § 21–612","heading":"","body":"(a) (1) Montgomery County, Prince George’s County, and the City of\nTakoma Park may issue bonds in any amount that they consider necessary to provide\nmoney for their respective portions of the stormwater management programs and\nsystems authorized under this subtitle.\n(2) The proceeds of bonds issued under paragraph (1) of this\nsubsection shall be used for the planning, acquisition, construction, reconstruction,\nestablishment, extension, enlargement, demolition, or purchase of facilities,\nincluding land, interests in land, or equipment, for stormwater management\nprograms and systems.\n(b) (1) (i) Bonds of the City of Takoma Park authorized by this\nsubtitle may be issued in conjunction with bonds of Prince George’s County\nauthorized by this subtitle in the manner provided by resolutions of the City Council\nof the City of Takoma Park and the County Council of Prince George’s County, subject\nin each case to approval of bond counsel for the respective jurisdiction.\n(ii) The resolutions may include procedures for a joint or\ncoordinated offering or sale of the bonds.\n(2) (i) Prince George’s County may issue bonds authorized by this\nsubtitle payable from the ad valorem taxes authorized by § 21–623(a) of this subtitle\nfor the benefit of the City of Takoma Park for the same purposes for which the City\nof Takoma Park may issue bonds under this subtitle in connection with systems\nlocated in the City of Takoma Park, subject to the approval of bond counsel for Prince\nGeorge’s County.\n(ii) The bonds authorized by this paragraph shall be approved\nby appropriate resolutions of the City Council of the City of Takoma Park and the\nCounty Council of Prince George’s County.\n(iii) The resolutions shall provide for the lending of the\nappropriate portion of the proceeds of the bonds by Prince George’s County to the City\nof Takoma Park and the repayment of the loan by the City of Takoma Park to Prince\nGeorge’s County in the amounts and at the times necessary to enable Prince George’s\nCounty to make all payments of principal of and interest on the bonds when due,\nincluding the proportionate part of any principal of any outstanding sinking fund\nbonds, as determined by the table of redemption of bonds for bonds issued by Prince\nGeorge’s County for the benefit of the City of Takoma Park for stormwater\nmanagement under this subtitle.","path":["Article - Local Government"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=glg\u0026section=21-612","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:59:58Z","sha256":"727c2b8efb0b823367e06bdf92ec65101243eb4500b1a47e9313f7ecc9b979dd","source_id":"us-md","stale":false,"prev":"us-md/md.-code-local-government-21-611","next":"us-md/md.-code-local-government-21-613"},"notice":"GroundRules: Original legal text. Not legal advice."}