(a)      Montgomery County and Prince George's County each may levy a direct ad valorem tax on all property assessed for tax purposes within the stormwater management district, except as provided in this subtitle, at a rate required to produce the amount needed to pay for:

            (1)      Maintenance of stormwater management systems in the district maintained by the WSSC before July 1, 1987, and systems established by each county after July 1, 1987;

            (2)      The principal and interest which shall become due and owing to the bondholders during the ensuing year and the proportionate part of the principal of all outstanding sinking fund bonds, as determined by the table of redemption of bonds for bonds issued by the WSSC for stormwater management;

            (3)      The principal and interest which shall become due and owing to the bondholders during the ensuing year and the proportionate part of the principal of all outstanding sinking fund bonds, as determined by the table of redemption of bonds for bonds issued by the county for stormwater management under this subtitle; and

            (4)      The cost of stormwater management activities and practices in the district, as approved in the county's annual stormwater management budget and appropriations resolution for the ensuing fiscal year.

      (b)      The WSSC shall certify annually to each county the amount necessary to produce the sum required to pay the principal, interest, and other obligations for the current year on the outstanding bonds issued by the WSSC to pay for stormwater management projects within their stormwater management districts, and the county shall pay the amount so certified.

      (c)      (1)      The taxes authorized by this section shall be levied and collected in the same manner, have the same priority, bear the same interest, and be treated in all respects as other county taxes.

            (2)      However:

                  (i)      Notwithstanding any provision of charter or law, the taxes may not be subject to any limitation on the tax rate or tax revenues of the county;

                  (ii)      The tax revenues shall be deposited and maintained in a separate stormwater management fund established under this section; and

                  (iii)      The tax revenues deposited in the fund shall be in addition to all other county taxes and may not be considered county taxes for the purpose of applying the limitations in Article VIII, § 817B of the Prince George's County Charter.

      (d)      Property owned by the State or an agency of the State, a county, a municipality, or a regularly organized volunteer fire department that is used for public purposes shall be exempt from the tax imposed under this section.

      (e)      Property which is not yet within a stormwater management area or is not yet otherwise provided direct or indirect stormwater management services in the stormwater management district may not have the tax imposed until the county acquires, extends, or commences the stormwater management services, facilities, or programs to the property.

      (f)      Upon establishing a stormwater management district, a county shall establish a stormwater management fund into which shall be deposited:

            (1)      All the receipts and revenues from the ad valorem tax levied under this section;

            (2)      All fees, contributions, and reserve funds collected by the WSSC before July 1, 1987, for stormwater management activities in the stormwater management district and transferred to the county under this subtitle; and

            (3)      All charges, fees, fees-in-lieu, and other contributions received from any person or governmental agency in connection with stormwater management activities or practices.

      (g)      The stormwater management district fund shall be disbursed only to pay for the costs of stormwater management as set forth in subsection (a) of this section.

      (h)      In the event that land within the Prince George's County stormwater management district is later annexed by the City of Bowie, or the City of Takoma Park, the land shall no longer be part of the stormwater management district of the county. The annexing city shall assume the responsibility for stormwater management within the annexed area, but Prince George's County shall levy and collect from the annexed property an ad valorem tax at a rate sufficient to pay the principal, interest, and other obligations on outstanding bonds issued by WSSC or Prince George's County for stormwater management prior to the annexation.

      (i)      The provisions of this subtitle may not impair or be construed as impairing the rights and privileges vested in the holders of bonds issued by WSSC or Prince George's County for stormwater management.

      (j)      The provisions of this section may not impair the rights of Prince George's County or the City of Bowie to contract with each other for the provision of stormwater management.

      (k)      The City of Takoma Park may levy a direct ad valorem tax on all property assessed for tax purposes within the City, except as provided in this subtitle, at a rate required to produce the amount needed to pay for:

            (1)      Maintenance of stormwater management systems in the City maintained by the WSSC before July 1, 1990, and systems established by the City on or after July 1, 1990;

            (2)      The principal and interest which shall become due and owing to the bondholders during the ensuing year and the proportionate part of the principal of all outstanding sinking fund bonds, as determined by the table of redemption of bonds for bonds issued by or on behalf of the City on or after July 1, 1990, for stormwater management under this subtitle;

            (3)      The principal and interest which shall become due and owing to Prince George's County with respect to the repayment of any loan made by the county to the City of Takoma Park under § 3-203(a)(1) of this subtitle; and

            (4)      The cost of stormwater management activities and practices in the City, as approved in the City's annual stormwater management budget and appropriations resolution for the ensuing fiscal year.

      (l)      In lieu of the direct ad valorem taxes authorized by subsection (k) of this section, the City of Takoma Park may adopt a stormwater management utility fee system or user charges to pay the costs of stormwater management activities and projects based on factors such as land use, amount of runoff, conservation, and environmental and other considerations.

      (m)      (1)      Subject to the provisions of paragraph (2) of this subsection, the taxes authorized by this section shall be levied and collected in the same manner, have the same priority, bear the same interest, and be treated in all respects as other City taxes.

            (2)      (i)      Notwithstanding any provision of the charter, laws, or ordinances of the City of Takoma Park, the taxes may not be subject to any limitation on the tax rate or tax revenues of the City of Takoma Park; and

                  (ii)      The tax revenues, user charges, and utility fees shall be deposited and maintained in a separate stormwater management fund established under this subsection.

      (n)      Property owned by the State or an agency or unit of the State, a county, a municipality, or a regularly organized volunteer fire department that is used for public purposes shall be exempt from the taxes, user charges, and utility fees imposed under this section.

      (o)      The City of Takoma Park shall establish a stormwater management fund into which shall be deposited:

            (1)      All the receipts and revenues from the ad valorem taxes, user charges, and utility fees levied under this section;

            (2)      All fees, contributions, and reserve funds collected by the WSSC before July 1, 1990, for stormwater management activities in the City of Takoma Park and transferred to the City of Takoma Park under this subtitle; and

            (3)      All charges, fees, fees-in-lieu, and other contributions received from any person or governmental entity in connection with stormwater management activities or practices.

      (p)      The stormwater management fund shall be disbursed only to pay for the costs of stormwater management, as set forth in subsection (k) of this section.

      (q)      The provisions of this section may not impair the rights of the City of Takoma Park or the rights of Prince George's County to contract with each other, or with other parties, for the provision of stormwater management.