The Resilience Authority of Charles County will undertake and
support resilience infrastructure projects, that mitigate the effects
of climate change by offering a range of financing structures, forms,
and techniques and leverages public and private investment and stimulates
demand for resilience infrastructure projects throughout Charles County.
In this section the following words have the meanings indicated.
BOND
A.
An obligation for the payment of money, by whatever name known
or source of funds secured, issued by the Charles County government
or the Resilience Authority under state and local general or special
statutory authority.
B.
"Bond" includes a refunding bond, a note, and any other obligation.
CAPITAL COSTS
Costs incurred for acquisition, planning, design, construction,
repair, renovation, reconstruction, expansion, site improvement, and
capital equipping.
CLIMATE CHANGE
Includes sea level rise, nuisance flooding, increased rainfall
events, erosion, and temperature rise.
LOCAL LAW
A legislative act of Charles County.
RESILIENCE AUTHORITY
The authority incorporated by Charles County in accordance
with this chapter whose purpose is to undertake or support resilience
infrastructure projects.
RESILIENCE INFRASTRUCTURE
A.
Infrastructure that mitigates the effects of climate change.
B.
Includes flood barriers, green spaces, building elevation, and
stormwater infrastructure.
Except as necessary to pay debt service or implement the public
purposes or programs of the Charles County government, the net earnings
of the Resilience Authority of Charles County may benefit only the
Charles County government and may not benefit any person.
A finding by the Board of Commissioners or the Board of Directors
of the Resilience Authority as to the public purpose of an action
taken under this chapter, and the appropriateness of that action to
serve the public purpose, is conclusive in a proceeding involving
the validity or enforceability of a bond, or security for a bond,
issued under this title.
Notwithstanding any other provision of law or charter, the Board
of County Commissioners may dedicate any revenues of the Charles County
government for repayment of bonds and to support the operations or
resilience infrastructure projects of the Resilience Authority.
If multiple counties or municipalities establish a Resilience
Authority:
A. Each shall
be considered an incorporating local government; and
B. The counties
or municipalities shall file jointly articles of incorporation or
articles of amendment in accordance with § 22-102 of the Local
Government article of the Annotated Code of Maryland.
Nothing in this chapter may be construed to:
A. Prohibit
the Charles County government from joining with multiple counties
or municipalities and establishing, through joint action, a Resilience
Authority in accordance with this chapter; or
B. Authorize
the Resilience Authority to levy a tax.