(A)
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(1)
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Harford County may establish by local law a
Revenue Authority in the County.
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(2)
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In enacting a local law under this section,
the County may grant to the Revenue Authority any authorization required
or authorized under this section, and may supplement any provision
of this section, as long as provisions of the local law are not in
conflict with any provision required under this section.
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(3)
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A local law enacted under this section shall:
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(I)
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Specify the organization and, subject to paragraph
(4) of this subsection, membership of the Revenue Authority, including
transitional provisions for its members and officers;
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(II)
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Specify the purposes of the Revenue Authority;
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(III)
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Specify the powers to be exercised by the Revenue
Authority;
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(IV)
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Provide for the exercise of all powers, authority,
rights, and obligations required by this section;
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(V)
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Specify the minimum number of meetings and hearings
to be held by the Revenue Authority;
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(VI)
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Specify the procedures to be followed and format
to be used by the Revenue Authority for its operation and capital
budgets and the method of review of the budgets by the County Council;
and
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(VII)
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Specify any other matters relating to the Revenue
Authority as the County may determine appropriate.
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(4)
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(I)
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The members of the Revenue Authority shall be
appointed in accordance with this paragraph.
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(II)
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1.
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There shall be at least nine members of the
Revenue Authority.
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2.
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The term of a member is 4 years.
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3.
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The terms of the members shall be staggered
as provided by the County Council.
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(III)
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The County Executive shall present a list of
nominees to the Harford County Senate and House delegation to the
General Assembly for the delegation's advice and consent. The list
shall contain a minimum of three names for each vacancy and shall
be presented at least 60 days prior to the occurrence of a vacancy.
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(IV)
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Within 14 working days from the receipt of the
list, the Harford County delegation shall:
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1.
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Consent by approving nominees on the list; or
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2.
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Delete from the list nominees that the delegation
rejects.
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(V)
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If the delegation fails to act on the list within
the 14 working day period, the nominees on the list are deemed approved
by operation of law.
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(VI)
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Within 14 working days after receipt of the
list acted upon by the delegation, the County Executive may replace
the name of any nominee deleted by the delegation and resubmit the
list to the delegation for consideration in accordance with Subparagraphs
(III) and (IV) of this paragraph.
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(VII)
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After completion of the delegation's review,
the County Executive shall submit to the County Council one nominee
from the list accepted by the County delegation for each vacancy for
its advice and consent.
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(VIII)
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The Chairman of the Revenue authority shall
be appointed by the County Executive from the members appointed by
the Council and serve at the pleasure of the County Executive.
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(5)
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The members of the Revenue Authority shall be
subject to the County's financial disclosure provisions as provided
in §§ 23-12.B(8) and 23-14.C. of the Harford County
Code, as amended.
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(B)
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(1)
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The Revenue Authority established by the County
is a body corporate and politic, created for the purpose of owning,
leasing, planning, designing, constructing, reconstructing, improving,
repaving, renovating, rehabilitating, equipping, furnishing, maintaining,
acquiring, disposing of, demolishing, and operating any and all projects
related to affordable housing, senior housing, parks and recreation
activities, economic development, or utility facilities in Harford
County.
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(2)
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The Revenue Authority may not own, operate,
or manage any golfing facility located on property located between
the corporate limits of the City of Aberdeen and the City of Havre
de Grace and which, on October 1, 1996:
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(I)
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Borders on the north boundary of any railroad
mainline right-of-way owned by the CSX Transportation Corporation,
or any of its subsidiaries; and
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(II)
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Is used for mainline rail transportation purposes.
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(C)
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The Revenue Authority is hereby granted and
may exercise all powers necessary or convenient for the carrying out
of its purposes, including the following rights and powers:
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(1)
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To have perpetual existence as a corporation;
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(2)
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To sue and be sued, implead and be impleaded,
complain and defend in all courts;
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(3)
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To adopt, use, and alter at will a corporate
seal;
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(4)
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To acquire, purchase, hold, and use any property,
real, personal, or mixed, tangible or intangible, or any interest
necessary or desirable for carrying out the purposes of the Revenue
Authority, and to lease as lessee any property, real, personal, or
mixed, or any interest therein, for a term not exceeding 99 years
at a nominal rental or such annual rental as may be determined; to
lease as lessor to the state or the County, or to any political subdivision
thereof, or to any person any project at any time constructed by the
Revenue Authority, whether wholly or partially completed, and any
property, real, personal, or mixed, tangible or intangible, or any
interest therein, at any time acquired by the Revenue Authority, whether
wholly or partially completed; and to sell, transfer, and convey to
the County any project at any time constructed by the Revenue Authority,
and any property, real, personal, or mixed, tangible or intangible,
or any interest therein, at any time acquired by the Revenue Authority;
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(5)
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To acquire by purchase, lease, or otherwise
and to construct, improve, equip, furnish, maintain, repair, and operate
projects;
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(6)
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To appoint officers, attorneys, accountants,
agents. employees, and servants; to prescribe their duties and fix
their compensation;
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(7)
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To make bylaws for the management and regulation
of its affairs;
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(8)
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To fix, charge and collect tolls, rates, rentals,
and other charges for the use of the facilities of, or for the services
rendered by, the Revenue Authority or projects thereof, at reasonable
rates, to be determined by it, for the purpose of providing for the
payment of the expenses of the Revenue Authority, the construction,
improvement, repair, equipping, furnishing, maintenance and operation
of its facilities and projects, the payment of the principal of and
interest on its bonds and obligations, and to fulfill the terms and
provisions of any agreements made with the purchasers or holders of
any such bonds and obligations;
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(9)
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To borrow money and issue negotiable revenue
bonds, certificates, or other evidences of indebtedness or obligations
and to secure the payment of such bonds, or any part thereof, by pledge
or indenture of trust of all or any part of its revenues, rentals
and receipts, all as may be provided in the resolution authorizing
the issuance of such bonds, which resolution shall be taken as part
of the contract with the holders of such bonds, and to make such agreements
with the purchasers or holders of such bonds or with others in connection
with any such bonds whether issued or to be issued, as the Revenue
Authority shall deem advisable, and in general to provide for the
security for the bonds and the rights of the holders thereof;
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(10)
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To make contracts of every name and nature,
and to execute all instruments necessary or convenient for the carrying
on of its business;
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(11)
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To borrow money and accept grants from, and
to enter into contracts, leases, or other transactions with, any federal
agency; and
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(12)
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To pledge, mortgage, encumber, sell, lease,
transfer, or convey any interest in its real and personal property
to the County or to any person.
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(D)
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Provisions of the County Charter or of other
County law that would otherwise apply to a County agency do not apply
to the Revenue Authority, unless the County expressly provides by
law that the charter provision or local law so applies.
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(E)
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(1)
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The County Executive may convey to the Revenue
Authority after a public hearing and with the approval of the County
Council the County's title to any land, streets, alleys, buildings,
facilities, or other public places, upon payment to the County of
the reasonable value of such properties.
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(2)
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The value of the property shall be determined
by a state certified independent appraiser whose appraisal shall be
approved by the Harford County Board of Estimates.
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(3)
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Payment shall be made in cash or in bonds of
the Revenue Authority at par value.
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(F)
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The County Executive may assign to the Revenue
Authority after a public hearing and with the approval of the County
Council any rates, rentals, fees, or charges now being or hereafter
received by the County. The assignment is to be for the purpose of
providing additional security for any bonds to be issued under this
section or for any other purposes as may be agreed to between the
Revenue Authority and the County.
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(G)
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(1)
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The County Council may advance to the Revenue
Authority from the general funds of the County money to be used by
the Revenue Authority to defray expenses for investigation, engineering
and architectural studies, opinions, and compensation of employees
and counsel which may be incurred prior to the sale of its revenue
bonds;
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(2)
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Advances shall be repaid out of the first proceeds
of the sale of revenue bonds by the Revenue Authority following any
such advance.
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(H)
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(1)
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Subject to Paragraph (2) of this subsection,
the Revenue Authority may issue revenue bonds, notes, or other evidences
of indebtedness on behalf of the County for the public purposes of
the County.
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(2)
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(I)
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Bonds issued by the Revenue Authority for the
sole purpose to finance utility facilities may not mature later than
30 years from the date of issue.
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(II)
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Bonds issued by the Revenue Authority for other
purposes may not mature later than 20 years from the date of issue.
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(I)
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(1)
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Revenue bonds, certificates, or other evidences
of indebtedness issued under the provisions of this section may not
be deemed to constitute a debt of the County or a pledge of the faith
and credit of the County or of the State of Maryland or any political
subdivision of the State of Maryland.
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(2)
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The revenue bonds, certificates, or other evidences
of indebtedness shall be payable from the funds of the Revenue Authority
provided from revenues of the project or projects of the Revenue Authority.
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(3)
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Revenue bonds shall contain a statement on their
face to the effect that the full faith and credit of the County, state,
or any political subdivision of the State of Maryland is not pledged
to pay such bonds or the interest thereon.
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(4)
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Except as otherwise provided in Paragraph (5)
of this subsection, the issuance of the revenue bonds, certificates,
or other evidences of indebtedness under the provisions of this section
may not directly, indirectly, or contingently obligate Harford County
to levy or pledge any form of taxation or any appropriation for their
payment.
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(5)
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The County Executive may, with the approval
of the Council, collaterally agree to provide sufficient money from
the general fund of the County to pay any deficiency in the debt service
requirements of such bonds for any year in which there is a deficit.
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(6)
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An advance of money from the general fund of
the County shall be repaid from the receipts, rentals, or revenues
of the authority in the next succeeding year in which such receipts,
rentals, or revenues exceed debt service requirements and operating
expenses.
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(7)
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An advance of money from the general fund of
the County under any agreement or agreements may not exceed a maximum
amount established by local law, or in the absence of local law establishing
a cap on advances, a maximum payment by the County of § 25,000
for any single year.
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(8)
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The Authority may not issue any bonds if such
issuance would require any allocation of the Maryland state ceiling
to the County in excess of the initial allocation to the County for
any period pursuant to § 13-802 of the Financial Institutions
Article.
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(J)
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(1)
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Revenue bonds issued by the Revenue Authority
as authorized by this section are hereby made securities in which
all public officers and public agencies of the state and its political
subdivisions, and all banks, trust companies, savings and loan associations,
investment companies, and others carrying on a banking business, all
administrators, executors, guardians, trustees, and other fiduciaries,
and all other persons may legally and properly invest funds, including
capital, in their control or belonging to them.
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(2)
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Revenue bonds issued by the Revenue Authority
are hereby made securities which may properly and legally be deposited
with and received by any state or municipal officer or any agency
or political subdivision of the state for any purpose for which the
deposit of bonds or other obligations of the state is now or may hereafter
be authorized by law.
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(K)
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The bonds, notes, and other evidences of indebtedness
issued by the Revenue Authority established by the County, their transfer,
the interest payable on them, and any income derived from them including
any profit realized in their sale or exchange, shall be exempt at
all times from taxation by the state, or by any of its counties, municipal
corporations, or public agencies of any kind.
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(L)
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The bonds, notes, and other evidences of indebtedness
issued by the Revenue Authority established by the County shall be
exempt from the provisions of Article 31, §§ 9, 10,
and 11 of the Annotated Code of Maryland, or any successor provision.
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