§21–503.

    (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.