Section 21-519 - Anne Arundel CountyA law enacted by Anne Arundel County under this subtitle:
(1) shall specify the type of infrastructure and related costs that may be financed;(2) shall require: (i) reasonable disclosure in a real estate contract to buyers of real property in a special taxing district of any special assessment, special tax, or other fee or charge for which the buyer would be liable due to the special taxing district; and(ii) that, if a seller fails to provide the disclosure, the buyer may void the contract before the date of settlement;(3) shall require adequate debt service reserve funds to be maintained;(4) may provide: (i) for exemptions, deferrals, and credits; and(ii) for a lien to attach to property in a special taxing district to the extent of that property owner's obligation under any special taxing district financing; and(5) may not allow: (i) acceleration of assessments or taxes by reason of bond default; or(ii) an increase in the maximum special assessments, special taxes, or other fees or charges applicable to any individual property if other property owners become delinquent in paying a special assessment, a special tax, or any other fee or charge securing bonds issued under this subtitle.Revised and recodified by 2013 Md. Laws, Ch. 119,Sec. 2, eff. 10/1/2013.