§ 10-7. Annual Financial Plan.

(a) Board to adopt.

The Board shall adopt an annual financial plan (the "Financial Plan"), based on the City's fiscal year, consisting of at least a budget and a proposed schedule of taxes or charges to be imposed throughout the District.

(b) First annual financial plan.

The initial financial plan for the Authority shall include all of the fiscal year ending on June 30, 2020, and may include the costs of preparing the Financial Plan and implementing the Authority and the District, so long as the costs were incurred prior to or during the fiscal year.

(c) Public hearing.

Before adopting the Financial Plan, the Board shall arrange for a public hearing on the proposed Plan. Notice of the hearing must be published in a newspaper of general circulation in Baltimore City at least once a week for 3 consecutive weeks.

(d) Board of Estimates approval required.

The Authority may not implement a Financial Plan that includes taxes or charges in excess of those approved by the Board of Estimates.