(a) Creation; articles of incorporation.
(1) Pursuant to Title 22 of the Local Government Article of the State Code, there is a Resilience Authority of Annapolis and Anne Arundel County, the purpose of which is to undertake and support resilience infrastructure projects in Anne Arundel County and the City of Annapolis.
(2) Upon the acceptance by the State Department of Assessments and Taxation of the articles of incorporation required by State law, the Resilience Authority of Annapolis and Anne Arundel County shall be a body corporate and politic of the County and the City of Annapolis.
(3) Acceptance of the articles of incorporation for record by the State Department of Assessments and Taxation is conclusive evidence of the formation of the Resilience Authority.
(b) Amendment of articles of incorporation.
(1) The County, with the concurrence of the City of Annapolis, may adopt amendments to the articles of incorporation of the Resilience Authority.
(2) The amendments shall be proposed by the County Executive and approved by resolution of the County Council.
(3) The amendments may contain any provision that lawfully could be contained in the articles of incorporation at the time of the amendment.
(4) The amendments shall be filed for record with the State Department of Assessments and Taxation.
(5) The amendments are effective as of the date and time that the State Department of Assessments and Taxation accepts the amendments for record.
(6) Acceptance of the amendments for record by the State Department of Assessments and Taxation is conclusive evidence that the amendments have been lawfully and properly adopted.
(c) Modification or termination.
(1) Subject to the provisions of this title and any limitations imposed by law on the impairment of contracts, the County, with the concurrence of the City of Annapolis, may:
(i) set or change the powers, structure, organization, procedures, programs, or activities of the Resilience Authority;
(ii) determine the revenue sources of the Resilience Authority, including any use of general fund revenue and general obligation bonds;
(iii) establish the budgetary and financial procedures of the Resilience Authority; and
(iv) terminate the Resilience Authority.
(2) On termination of the Resilience Authority:
(i) title to all property of the Resilience Authority shall be transferred to and vest in the County and the City of Annapolis; and
(ii) all obligations of the Resilience Authority shall be transferred to and assumed by the County and the City of Annapolis.
(Bill No. 31-21)