(a) For any purpose stated in § 21-504(a)(1) of this subtitle, a county may: (1) establish a special taxing district; (2) impose ad valorem or special taxes; and (3) issue bonds. (b) (1) For any purpose stated in § 21-504(a)(2) of this subtitle, a county may: (i) establish special taxing districts; (ii) impose ad valorem or special taxes; and (iii) pledge funds under an agreement to: 1. secure payment on MEDCO obligations; 2. pay the costs of infrastructure improvements located in or supporting a transit-oriented development or a State hospital redevelopment; and 3. pay the costs of operating and maintaining infrastructure improvements located in or supporting a transit-oriented development or a State hospital redevelopment. (2) An agreement pledging funds as described in paragraph (1)(iii) of this subsection shall: (i) be authorized by an ordinance or resolution of the county; (ii) be in writing; (iii) be executed on behalf of the county making the pledge, the Maryland Economic Development Corporation, and any other person or entity that the governing body of the county determines; and (iv) benefit, and be enforceable on behalf of, the holders of any MEDCO obligation secured by the agreement. (c) (1) Notwithstanding any other provision of law, a county may establish a special taxing district, issue bonds, or impose an ad valorem or special tax under this subtitle only if a request to the county is made by both: (i) the owners of at least two-thirds of the assessed valuation of the real property located in the special taxing district; and (ii) at least two-thirds of the owners of the real property located in the special taxing district. (2) For purposes of paragraph (1)(ii) of this subsection: (i) multiple owners of a single parcel are treated as a single owner; and (ii) a single owner of multiple parcels is treated as one owner.
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