[Adopted by Ord. No. 92-11]
In general. In this article the following terms
have the meanings indicated.
The Kent Narrows Commercial Management and Waterfront Improvement
Authority.
Collectively all bonds and other debt instruments issued
by the County to finance public improvements and amenities in the
District, including any such indebtedness incurred prior to July 17,
1993.
The geographic area described by the District boundaries established under § 5-13 of this article, in which the Authority shall operate and perform its responsibilities.
A.
Established. A Kent Narrows Commercial Management
and Waterfront Improvement District is established in accordance with
Article 25A, § 5(FF) of the Annotated Code of Maryland.
B.
Boundaries. The boundaries of the District are those
set forth in maps available at the office of the County Commissioners
which are incorporated herein by reference.
A.
In general. The funding of public improvements, including
the payment of any bond, shall be provided for by an annual supplemental
property tax levied on all property within the District that is subject
to real property tax and is not exempt property.
B.
Tax procedures.
(1)
The supplemental property tax shall be assessed and
collected in conjunction with property taxes collected by the County.
(2)
Collection of the supplemental property tax shall
be in accordance with Title 14 of the Tax-Property Article of the
Annotated Code of Maryland, and all provisions applicable to the assessment,
collection, enforcement priority, and refunding of County property
taxes shall apply to the supplemental property tax unless otherwise
provided under this article.
[Amended by Ord. No. 95-12]
A.
Imposition.
(1)
The County Commissioners shall establish the rate
of the supplemental property tax for the following taxable year prior
to July 1 of each year.
(2)
The rate shall be based on the County Commissioners'
good faith estimate of the cost of providing public improvements for
the upcoming fiscal year, including the cost of repayment of any bond.
B.
Limitations. The supplemental property tax: