(a) While any bonds issued under Part II of this subtitle are outstanding, the municipal authority annually shall levy a tax against all of the assessable property served within the municipality to pay the principal and interest on the bonds. (b) The tax shall be: (1) Sufficient to pay: (i) When due, the principal and interest on the bonds; or (ii) The part of the principal or interest on the bonds that is not paid for by the levy of the annual front-foot assessment under § 9-713 of this subtitle or by the service charges collected under § 9-714 of this subtitle; and (2) Treated the same as any other municipal tax in every respect, including as to: (i) Priority rights; (ii) Interest; (iii) Penalties; and (iv) Manner of determination, levy, and collection. (c) (1) Each person involved in the levy or collection of the taxes shall perform the duties promptly and properly. (2) A person may not use any funds collected under this section for any purpose other than the payment of principal and interest on the bonds.
Maryland Legal Code