Maryland 2022 2022 Regular Session

Maryland House Bill HB543 Engrossed / Bill

Filed 03/19/2022

                     
 
EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW. 
        [Brackets] indicate matter deleted from existing law. 
         Underlining indicates amendments to bill. 
         Strike out indicates matter stricken from the bill by amendment or deleted from the law by 
amendment. 
          *hb0543*  
  
HOUSE BILL 543 
L3   	2lr1492 
      
By: Delegate McKay 
Introduced and read first time: January 21, 2022 
Assigned to: Environment and Transportation 
Committee Report: Favorable 
House action: Adopted 
Read second time: March 13, 2022 
 
CHAPTER ______ 
 
AN ACT concerning 1 
 
Town of Hancock (Washington County) – Urban Renewal Authority for Blight 2 
Clearance 3 
 
FOR the purpose of granting the Town of Hancock in Washington County the authority to 4 
exercise urban renewal powers in areas zoned for commercial use for blight clearance 5 
and redevelopment under Article III, Section 61 of the Maryland Constitution; 6 
authorizing the municipality to levy certain taxes and issue general obligation bonds 7 
and revenue bonds to carry out urban renewal powers; and generally relating to 8 
urban renewal authority for blight clearance for the Town of Hancock in Washington 9 
County. 10 
 
BY adding to 11 
 Chapter 71 – Charter of the Town of Hancock 12 
Section A1–101 through A1–114 to be under the new heading “Appendix I – Urban 13 
Renewal Authority for Blight Clearance” 14 
 Public Local Laws of Maryland – Compilation of Municipal Charters 15 
 (2015 Replacement Edition, Revisions Current as of November 2021)  16 
 
 SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 17 
That the Public Local Laws of Maryland – Compilation of Municipal Charters read as 18 
follows: 19 
 
Chapter 71 – Charter of the Town of Hancock 20 
 
APPENDIX I – URBAN RENEWAL AUTHORITY FOR BLIGHT CLEARANCE 21  2 	HOUSE BILL 543  
 
 
 
A1–101. DEFINITIONS. 1 
 
 (A) IN THIS APPENDIX THE FOLLOWING WORDS HAVE THE MEANINGS 2 
INDICATED. 3 
 
 (B) “BLIGHTED AREA ” MEANS AN AREA OR SIN GLE PROPERTY IN WHIC H 4 
THE BUILDING OR BUIL DINGS HAVE DECLINED IN PRODUCTIVITY BY R EASON OF 5 
OBSOLESCENCE , DEPRECIATION, OR OTHER CAUSES TO A N EXTENT THAT THEY NO 6 
LONGER JUSTIFY FUNDA MENTAL REPAIRS AND A DEQUATE MAINTENANCE . 7 
 
 (C) “BONDS” MEANS ANY BONDS (INCLUDING REFUNDING BONDS), NOTES, 8 
INTERIM CERTIFICATES , CERTIFICATES OF INDE BTEDNESS, DEBENTURES , OR 9 
OTHER OBLIG ATIONS. 10 
 
 (D) “FEDERAL GOVERNMENT ” MEANS THE UNITED STATES OF AMERICA OR 11 
ANY AGENCY OR INSTRU MENTALITY, CORPORATE OR OTHERWI SE, OF THE UNITED 12 
STATES OF AMERICA. 13 
 
 (E) “MUNICIPALITY” MEANS THE TOWN OF HANCOCK, MARYLAND. 14 
 
 (F) “PERSON” MEANS ANY INDIVIDUAL , FIRM, PARTNERSHIP , 15 
CORPORATION , COMPANY, ASSOCIATION, JOINT STOCK ASSOCIAT ION, OR BODY 16 
POLITIC. IT INCLUDES ANY TRUST EE, RECEIVER, ASSIGNEE, OR OTHER PERSON 17 
ACTING IN SIMILAR RE PRESENTATIVE CAPACIT Y. 18 
 
 (G) “URBAN RENEWAL AREA ” MEANS A BLIGHTED ARE A WHICH T HE 19 
MUNICIPALITY DESIGNA TES AS APPROPRIATE F OR AN URBAN RENEWAL PROJECT. 20 
 
 (H) “URBAN RENEWAL PLAN ” MEANS A PLAN , AS IT EXISTS FROM TI ME TO 21 
TIME, FOR AN URBAN RENEWAL PROJECT. THE PLAN SHALL BE SUF FICIENTLY 22 
COMPLETE TO INDICATE ANY LAND ACQUISITION , DEMOLITION, AND REMOVAL OF 23 
STRUCTURES , REDEVELOPMENT , IMPROVEMENTS , AND REHABILITATION A S MAY BE 24 
PROPOSED TO BE CARRI ED OUT IN THE URBAN RENEWAL AREA , ZONING AND 25 
PLANNING CHANGES , IF ANY, LAND USES, MAXIMUM DENSITY , AND BUILDING 26 
REQUIREMENTS . 27 
 
 (I) “URBAN RENEWAL PROJECT ” MEANS UNDERTAKINGS A ND ACTIVITIES 28 
OF A MUNICIPALITY IN AN URBAN RENEWAL ARE A FOR THE ELIMINATIO N AND FOR 29 
THE PREVENTION OF TH E DEVELOPMENT OR SPR EAD OF BLIGHT, AND MAY INVOLVE 30 
CLEARANCE AND REDEVE LOPMENT IN AN URBAN 	RENEWAL AREA , OR 31 
REHABILITATION OR CONSERVA TION IN AN URBAN REN EWAL AREA , OR ANY 32 
COMBINATION OR PART OF THEM IN ACCORDANC E WITH AN URBAN RENE WAL PLAN. 33   	HOUSE BILL 543 	3 
 
 
THESE UNDERTAKINGS AN D ACTIVITIES MAY INC LUDE: 1 
 
 (1) ACQUISITION OF A BLIG HTED AREA OR PORTION OF THE 2 
BLIGHTED AREA ; 3 
 
 (2) DEMOLITION AND REMOVAL OF BUILDINGS AND IMP ROVEMENTS ; 4 
 
 (3) INSTALLATION , CONSTRUCTION OR RECO NSTRUCTION OF 5 
STREETS, UTILITIES, PARKS, PLAYGROUNDS , AND OTHER IMPROVEMEN TS 6 
NECESSARY FOR CARRYI NG OUT THE URBAN REN EWAL OBJECTIVES OF T HIS 7 
APPENDIX IN ACCORDAN CE WITH THE URBAN RENEW AL PLAN; 8 
 
 (4) DISPOSITION OF ANY PR OPERTY ACQUIRED IN T HE URBAN 9 
RENEWAL AREA , INCLUDING SALE , INITIAL LEASING , OR RETENTION BY THE 10 
MUNICIPALITY ITSELF , AT ITS FAIR VALUE FO R USES IN ACCORDANCE WITH THE 11 
URBAN RENEWAL PLAN ; 12 
 
 (5) CARRYING OUT PLANS FOR A PROGRAM OF VOLUNTARY OR 13 
COMPULSORY REPAIR AN D REHABILITATION OF BUILDINGS OR OTHER 14 
IMPROVEMENTS IN ACCO RDANCE WITH THE URBA N RENEWAL PLAN ; 15 
 
 (6) ACQUISITION OF ANY OT HER REAL PROPERTY IN THE URBAN 16 
RENEWAL AREA WHERE N ECESSARY TO ELIMIN ATE UNHEALTHFUL , UNSANITARY, 17 
OR UNSAFE CONDITIONS , LESSEN DENSITY , ELIMINATE OBSOLETE O R OTHER USES 18 
DETRIMENTAL TO THE P UBLIC WELFARE , OR OTHERWISE TO REMO VE OR PREVENT 19 
THE SPREAD OF BLIGHT OR DETERIORATION , OR TO PROVIDE LAND F OR NEEDED 20 
PUBLIC FACILITIES ; AND 21 
 
 (7) THE PRESERVATION , IMPROVEMENT , OR EMBELLISHMENT OF 22 
HISTORIC STRUCTURES OR MONUMENTS . 23 
 
A1–102. POWERS. 24 
 
 (A) THE MUNICIPALITY MAY UNDERTAKE AND CARRY OUT URBAN RENEWAL 25 
PROJECTS IN AREAS OF THE MUNI CIPALITY THAT ARE ZO NED FOR COMMERCIAL 26 
USE. 27 
 
 (B) THESE PROJECTS SHALL BE LIMITED: 28 
 
 (1) TO BLIGHT CLEARANCE IN BLIGHTE D AREAS AND 29 
REDEVELOPMENT OR THE REHABILITATION OF BL IGHTED AREAS ; 30 
 
 (2) TO ACQUIRE IN CONNECT ION WITH THOSE PROJE CTS, WITHIN 31  4 	HOUSE BILL 543  
 
 
THE CORPORATE LIMITS OF THE MUNICIPALITY , LAND AND PROP ERTY OF EVERY 1 
KIND AND ANY RIGHT , INTEREST, FRANCHISE, EASEMENT, OR PRIVILEGE , 2 
INCLUDING LAND OR PR OPERTY AND ANY RIGHT OR INTEREST ALREADY DEVOTED 3 
TO PUBLIC USE, BY PURCHASE, LEASE, GIFT, CONDEMNATION , OR ANY OTHER LEGAL 4 
MEANS; AND 5 
 
 (3) TO SELL, LEASE, CONVEY, TRANSFER, OR OTHERWISE DISPOSE OF 6 
ANY OF THE LAND OR P ROPERTY, REGARDLESS OF WHETHE R OR NOT IT HAS BEEN 7 
DEVELOPED , REDEVELOPED , ALTERED, OR IMPROVED AND IRRE SPECTIVE OF THE 8 
MANNER OR MEANS IN O R BY WHICH IT MAY HA VE BEEN ACQUIRED , TO ANY PRIVATE, 9 
PUBLIC, OR QUASI–PUBLIC CORPORATION , PARTNERSHIP , ASSOCIATION, PERSON, 10 
OR OTHER LEGAL ENTIT Y. 11 
 
 (C) LAND OR PROPERTY TAKE N BY THE MUNICIPALIT Y FOR ANY OF THESE 12 
PURPOSES OR IN CONNE CTION WITH THE EXERC ISE OF ANY OF THE PO WERS WHICH 13 
ARE GRANTED BY THIS APPENDIX TO THE MUNICIPALI TY BY EXERCISING THE 14 
POWER OF EMINENT DOM AIN MAY NOT BE TAKEN WITHOUT JUST COMPENS ATION, 15 
AS AGREED ON BETWEEN THE PARTIES, OR AWARDED BY A JURY , BEING FIRST PAID 16 
OR TENDERED TO THE P ARTY ENTITLED TO THE COMPENSATION . 17 
 
 (D) ALL LAND OR PROPERTY NEEDED OR TA KEN BY THE EXERCISE OF THE 18 
POWER OF EMINENT DOM AIN BY THE MUNICIPAL ITY FOR ANY OF THESE PURPOSES 19 
OR IN CONNECTION WIT H THE EXERCISE OF AN Y OF THE POWERS GRAN TED BY THIS 20 
APPENDIX IS DECLARED TO BE NEEDED OR TAKE N FOR PUBLIC USES AN D 21 
PURPOSES. 22 
 
 (E) ANY OR ALL OF THE ACT IVITIES AUTHORIZED P URSUANT TO THIS 23 
APPENDIX CONSTITUTE GOVERNMENTAL FUNCTIO NS UNDERTAKEN FOR PU BLIC 24 
USES AND PURPOSES AN D THE POWER OF TAXAT ION MAY BE EXERCISED , PUBLIC 25 
FUNDS EXPENDED , AND PUBLIC CREDIT EX TENDED IN FURTHER ANCE OF THEM . 26 
 
A1–103. ADDITIONAL POWERS . 27 
 
 THE MUNICIPALITY HAS THE FOLLOWING ADDITI ONAL POWERS . THESE 28 
POWERS ARE DECLARED TO BE NECESSARY AND PROPER TO CARRY INTO FULL 29 
FORCE AND EFFECT THE SPECIFIC POWERS GRAN TED IN THIS APPENDIX AND TO 30 
FULLY ACCOMPLISH THE PURPOSES AND OBJ ECTS CONTEMPLATED BY THE 31 
PROVISIONS OF THIS S ECTION: 32 
 
 (1) TO MAKE OR HAVE MADE ALL SURVEYS AND PLAN S NECESSARY TO 33 
THE CARRYING OUT OF THE PURPOSES OF THIS APPENDIX AND TO ADOP T OR 34 
APPROVE, MODIFY, AND AMEND THOSE PLAN S. THESE PLANS MA Y INCLUDE, BUT 35 
ARE NOT LIMITED TO :  36   	HOUSE BILL 543 	5 
 
 
 
 (I) PLANS FOR CARRYING OU T A PROGRAM OF VOLUN TARY OR 1 
COMPULSORY REPAIR AN D REHABILITATION OF BUILDINGS AND IMPROV EMENTS; 2 
 
 (II) PLANS FOR THE ENFORCE	MENT OF CODES AND 3 
REGULATIONS RELATING TO THE USE OF LAND A ND THE USE AND OCCUPANCY OF 4 
BUILDINGS AND IMPROV EMENTS AND TO THE CO	MPULSORY REPAIR , 5 
REHABILITATION , DEMOLITION, OR REMOVAL OF BUILDI NGS AND IMPROVEMENTS ; 6 
AND 7 
 
 (III) APPRAISALS, TITLE SEARCHES , SURVEYS, STUDIES, AND 8 
OTHER PLANS AND WORK NECESSARY TO PREPARE FOR THE UNDERTAKING O F 9 
URBAN RENEWAL PROJEC TS AND RELATED ACTIV ITIES, AND TO APPLY FOR , 10 
ACCEPT, AND UTILIZE GRANTS O F FUNDS FROM THE FED ERAL GOVERNMENT OR ANY 11 
OTHER GOVERNMENTAL E NTITY FOR THOSE PURP OSES; 12 
 
 (2) TO PREPARE PLANS FOR THE RELOCATION OF PERSONS 13 
(INCLUDING FAMILIES , BUSINESS CONCERNS , AND OTHERS ) DISPLACED FROM AN 14 
URBAN RENEWAL AREA , AND TO MAKE RELOCATI ON PAYMENTS TO OR WI TH 15 
RESPECT TO THOSE PER SONS FOR MOVING EXPE NSES AND LOSSES OF P ROPERTY 16 
FOR WHICH REIMBURSEM ENT OR COMPENSATION IS NOT OTHERWISE MADE , 17 
INCLUDING THE MAKING OF PAYMENTS FINANCED BY THE FEDERAL GOVER NMENT; 18 
 
 (3) TO APPROPRIATE WHATEV ER FUNDS AND MAKE WH ATEVER 19 
EXPENDITURES AS MAY BE NECESSARY TO CARR Y OUT THE PURPOSES O F THIS 20 
APPENDIX, INCLUDING, BUT NOT LIMITED : 21 
 
 (I) TO THE PAYMENT OF ANY A ND ALL COSTS AND EXP ENSES 22 
INCURRED IN CONNECTI ON WITH, OR INCIDENTAL TO , THE ACQUISITION OF L AND 23 
OR PROPERTY , AND FOR THE DEMOLITI ON, REMOVAL, RELOCATION , RENOVATION , 24 
OR ALTERATION OF LAN D, BUILDINGS, STREETS, HIGHWAYS, ALLEYS, UTILITIES, OR 25 
SERVICES, AND OTHER STRUCTURES OR IMPROVEMENTS , AND FOR THE 26 
CONSTRUCTION , RECONSTRUCTION , INSTALLATION, RELOCATION, OR REPAIR OF 27 
STREETS, HIGHWAYS, ALLEYS, UTILITIES, OR SERVICES, IN CONNECTION WITH 28 
URBAN RENEWAL PROJEC TS; 29 
 
 (II) TO LEVY TAXES AND ASSESSMENTS FOR THOS E PURPOSES; 30 
 
 (III) TO BORROW MONEY AND T O APPLY FOR AND ACCE PT 31 
ADVANCES, LOANS, GRANTS, CONTRIBUTIONS , AND ANY OTHER FORM O F FINANCIAL 32 
ASSISTANCE FROM THE FEDERAL GOVERNMENT , THE STATE, COUNTY, OR OTHER 33 
PUBLIC BODIES, OR FROM ANY SOU RCES, PUBLIC OR PRIVATE , FOR THE PURPOSES 34 
OF THIS APPENDIX , AND TO GIVE WHATEVER SECURITY AS MAY BE R EQUIRED FOR 35  6 	HOUSE BILL 543  
 
 
THIS FINANCIAL ASSIS TANCE; AND 1 
 
 (IV) TO INVEST ANY URBAN R ENEWAL FUNDS HELD IN RESERVES 2 
OR SINKING FUNDS OR ANY OF THESE FUNDS N OT REQUIRED FOR IMMEDIATE 3 
DISBURSEMENT IN PROP ERTY OR SECURITIES W HICH ARE LEGAL INVES TMENTS FOR 4 
OTHER MUNICIPAL FUND S; 5 
 
 (4) (I) TO HOLD , IMPROVE, CLEAR, OR PREPARE FOR 6 
REDEVELOPMENT ANY PR OPERTY ACQUIRED IN C ONNECTION WITH URBAN 7 
RENEWAL PROJECTS ; 8 
 
 (II) TO MORTGA GE, PLEDGE, HYPOTHECATE , OR OTHERWISE 9 
ENCUMBER THAT PROPER TY; AND 10 
 
 (III) TO INSURE OR PROVIDE FOR THE INSURANCE OF THE 11 
PROPERTY OR OPERATIO NS OF THE MUNICIPALI TY AGAINST ANY RISKS OR 12 
HAZARDS, INCLUDING THE POWER TO PAY PREMIUMS ON A NY INSURANCE ; 13 
 
 (5) TO MAKE AND EXECUTE A	LL CONTRACTS AND OTH ER 14 
INSTRUMENTS NECESSAR Y OR CONVENIENT TO T HE EXERCISE OF ITS P OWERS 15 
UNDER THIS APPENDIX , INCLUDING THE POWER TO ENTER INTO AGREEM ENTS WITH 16 
OTHER PUBLIC BODIES OR AGENCIES (THESE AGREEMENTS MAY EXTEND OVER ANY 17 
PERIOD, NOTWITHSTANDING ANY PROVISION OR RULE OF LAW TO THE CONTRARY ), 18 
AND TO INCLUDE IN AN Y CONTRACT FOR FINAN CIAL ASSISTANCE WITH THE 19 
FEDERAL GOVERNMENT F OR OR WITH RESPECT T O AN URBAN RENEWAL P ROJECT 20 
AND RELATED ACTIVITI ES ANY CONDITIONS IM POSED PURSUANT TO FEDERAL LAWS 21 
AS THE MUNICIPALITY CONSIDERS REASONABLE AND APPROPRIATE ; 22 
 
 (6) TO ENTER INTO ANY BUI LDING OR PROPERTY IN ANY URBAN 23 
RENEWAL AREA IN ORDE R TO MAKE INSPECTION S, SURVEYS, APPRAISALS, 24 
SOUNDINGS, OR TEST BORINGS , AND TO OBTAIN AN ORD ER FOR THIS PURPOSE FROM 25 
THE CIRCUIT COURT FO R THE COUNTY IN WHIC H THE MUNICIPALITY I S SITUATED IN 26 
THE EVENT ENTRY IS D ENIED OR RESISTED ; 27 
 
 (7) TO PLAN, REPLAN, INSTALL, CONSTRUCT, RECONSTRUCT , 28 
REPAIR, CLOSE, OR VACATE STREETS , ROADS, SIDEWALKS, PUBLIC UTILITIES , 29 
PARKS, PLAYGROUNDS , AND OTHER PUBLIC IMP ROVEMENTS IN CONNECT ION WITH 30 
AN URBAN RENEWAL PRO JECT AND TO MAKE EXCEPTIO NS FROM BUILDING 31 
REGULATIONS ; 32 
 
 (8) TO GENERALLY ORGANIZE , COORDINATE , AND DIRECT THE 33 
ADMINISTRATION OF TH E PROVISIONS OF THIS APPENDIX AS THEY AP PLY TO THE 34 
MUNICIPALITY IN ORDE R THAT THE OBJECTIVE OF REMEDYING BLIGHTE D AREAS 35   	HOUSE BILL 543 	7 
 
 
AND PREVENTING ITS C AUSES WITHIN THE MUN ICIPALITY MAY BE PRO MOTED AND 1 
ACHIEVED MOST EFFECT IVELY; AND 2 
 
 (9) TO EXERCISE ALL OR AN Y PART OR COMBINATIO N OF THE 3 
POWERS GRANTED IN THIS APPENDIX. 4 
 
A1–104. ESTABLISHMENT OF URBA N RENEWAL AGENCY . 5 
 
 (A) A MUNICIPALITY MAY ITS ELF EXERCISE ALL THE POWERS GRANTED BY 6 
THIS APPENDIX , OR MAY, IF ITS LEGISLATIVE B ODY BY ORDINANCE DET ERMINES 7 
THE ACTION TO BE IN THE PUBLIC INTEREST , ELECT TO HAVE THE POWERS 8 
EXERCISED BY A SEPAR ATE PUBLIC BODY OR A GENCY. 9 
 
 (B) IN THE EVENT THE LEGI SLATIVE BODY MAKES T HAT DETERMINATION , 10 
IT SHALL PROCEED BY ORDINANCE TO ESTABLI SH A PUBLIC BODY OR AGENCY TO 11 
UNDERTAKE IN THE MUN ICIPALITY THE ACTIVI TIES AUTHORIZED BY T HIS 12 
APPENDIX. 13 
 
 (C) THE ORDINANCE SHALL I NCLUDE PROVISIONS ES TABLISHING THE 14 
NUMBER OF MEMBERS OF THE PUBLIC BODY OR A GENCY, THE MANNER OF THEIR 15 
APPOINTMENT AND REMO VAL, AND THE TERMS OF THE MEMBERS AND THEIR 16 
COMPENSATION . 17 
 
 (D) THE ORDINANCE MAY INC LUDE WHAT EVER ADDITIONAL PROV ISIONS 18 
RELATING TO THE ORGA NIZATION OF THE PUBL IC BODY OR AGENCY AS MAY BE 19 
NECESSARY. 20 
 
 (E) IN THE EVENT THE LEGI SLATIVE BODY ENACTS THIS ORDINANCE , ALL 21 
OF THE POWERS BY THI S APPENDIX GRANTED T O THE MUNICIPALITY , FROM THE 22 
EFFECTIVE DATE OF THE ORDINANCE , ARE VESTED IN THE PU BLIC BODY OR AGENCY 23 
ESTABLISHED BY THE O RDINANCE. 24 
 
A1–105. POWERS WITHHELD FROM THE AGENCY. 25 
 
 THE AGENCY MAY NOT : 26 
 
 (1) PASS A RESOLUTION TO INITIATE AN URBAN RE NEWAL PROJECT 27 
PURSUANT TO SECTIONS A1–102 AND A1–103 OF THIS APPENDIX; 28 
 
 (2) ISSUE GENERAL OBLIGAT ION BONDS PURSUANT T O SECTION  29 
A1–111 OF THIS APPENDIX ; OR 30 
 
 (3) APPROPRIATE FUNDS OR LEVY TAXES AND ASSES SMENTS 31  8 	HOUSE BILL 543  
 
 
PURSUANT TO SECTION A1–103(3) OF THIS APPENDIX . 1 
 
A1–106. INITIATION OF PROJECT . 2 
 
 IN ORDER TO INIT IATE AN URBAN RENEWA L PROJECT, THE LEGISLATIVE 3 
BODY OF THE MUNICIPA LITY SHALL ADOPT A R ESOLUTION WHICH : 4 
 
 (1) FINDS THAT ONE OR MOR E BLIGHTED AREAS EXI ST IN THE 5 
MUNICIPALITY; 6 
 
 (2) LOCATES AND DEFINES T HE BLIGHTED AREA ; AND 7 
 
 (3) FINDS THAT THE REHABI LITATION, REDEVELOPMENT , OR A 8 
COMBINATION OF THEM , OF THE AREA OR AREAS , IS NECESSARY AND IN THE 9 
INTEREST OF THE PUBL IC HEALTH, SAFETY, MORALS, OR WELFARE OF THE 10 
RESIDENTS OF THE MUN ICIPALITY. 11 
 
A1–107. PREPARATION AND APPRO VAL OF PLAN FOR URBA N RENEWAL PROJE CT. 12 
 
 (A) IN ORDER TO CARRY OUT THE PURPOSES OF THIS APPENDIX, THE 13 
MUNICIPALITY SHALL H AVE PREPARED AN URBA N RENEWAL PLAN FOR B LIGHTED 14 
AREAS IN THE MUNICIP ALITY AND SHALL APPROVE TH E PLAN FORMALLY . THE 15 
MUNICIPALITY SHALL H OLD A PUBLIC HEARING ON AN URBAN RENEWAL PROJECT 16 
AFTER PUBLIC NOTICE OF IT BY PUBLICATION IN A NEWSPAPER HAVIN G A GENERAL 17 
CIRCULATION WITHIN T HE CORPORATE LIMITS OF THE MUNICIPALITY . THE NOTICE 18 
SHALL DESCRIBE THE T IME, DATE, PLACE, AND PURPOSE OF THE H EARING, SHALL 19 
GENERALLY IDENTIFY T HE URBAN RENEWAL AREA C OVERED BY THE PLAN , AND 20 
SHALL OUTLINE THE GE NERAL SCOPE OF THE U RBAN RENEWAL PROJECT UNDER 21 
CONSIDERATION . FOLLOWING THE HEARING , THE MUNICIPALITY MAY APPROVE AN 22 
URBAN RENEWAL PROJEC T AND THE PLAN THERE FOR IF IT FINDS THAT: 23 
 
 (1) A FEASIBLE METHOD EXISTS F OR THE LOCATION OF A NY 24 
FAMILIES OR NATURAL PERSONS WHO WILL BE DISPLACED FROM THE U RBAN 25 
RENEWAL AREA IN DECE NT, SAFE, AND SANITARY DWELLIN G ACCOMMODATIONS 26 
WITHIN THEIR MEANS A ND WITHOUT UNDUE HAR DSHIP TO THE FAMILIE S OR 27 
NATURAL PERSONS ; 28 
 
 (2) THE URBAN RENEWAL PLA N CONFORMS SUBSTANTI ALLY TO THE 29 
MASTER PLAN OF THE M UNICIPALITY AS A WHO LE; AND 30 
 
 (3) THE URBAN RENEWAL PLA	N WILL AFFORD MAXIMU	M 31 
OPPORTUNITY , CONSISTENT WITH THE SOUND NEEDS OF THE M UNICIPALITY AS A 32 
WHOLE, FOR THE REHABILITATION OR RE DEVELOPMENT OF THE U RBAN RENEWAL 33   	HOUSE BILL 543 	9 
 
 
AREA BY PRIVATE ENTE RPRISE. 1 
 
 (B) AN URBAN RENEWAL PLAN MAY BE MODIFIED AT A NY TIME. IF 2 
MODIFIED AFTER THE L EASE OR SALE OF REAL PROPERTY IN THE URBA N RENEWAL 3 
PROJECT AREA , THE MODIFICATION MAY BE CONDIT IONED ON WHATEVER 4 
APPROVAL OF THE OWNE R, LESSEE, OR SUCCESSOR IN INTE REST AS THE 5 
MUNICIPALITY CONSIDE RS ADVISABLE. IN ANY EVENT, IT SHALL BE SUBJECT TO 6 
WHATEVER RIGHTS AT L AW OR IN EQUITY AS A LESSEE OR PURCHASER , OR THE 7 
SUCCESSOR OR SUCCESS ORS IN INTEREST , MAY BE ENTITLED TO A SSERT. WHERE 8 
THE PROPOSED MODIFIC ATION WILL CHANGE SU BSTANTIALLY THE URBA N 9 
RENEWAL PLAN AS APPR OVED PREVIOUSLY BY T HE MUNICIPALITY , THE 10 
MODIFICATION SHALL B E APPROVED FORMALLY BY THE MUNICIPALITY , AS IN THE 11 
CASE OF AN ORIGINAL PLAN. 12 
 
 (C) ON THE APPROVAL BY TH E MUNICIPALITY OF AN URBAN RENEWAL PLAN 13 
OR OF ANY MODIFICATI ON OF IT, THE PLAN OR MODIFICA TION SHALL BE 14 
CONSIDERED TO BE IN FULL FORCE AND EFFEC T FOR THE RESPECTIVE URBAN 15 
RENEWAL AREA . THE MUNICIPALITY MAY HAVE THE PLAN OR MOD IFICATION 16 
CARRIED OUT IN ACCOR DANCE WITH ITS TERMS . 17 
 
A1–108. DISPOSAL OF PROPERTY IN URBAN RENEWAL ARE A. 18 
 
 (A) THE MUNICIPALITY , BY ORDINANCE , MAY SELL, LEASE, OR OTHERWISE 19 
TRANSFER REAL PROPER TY OR ANY INTEREST I N IT ACQUIRED BY IT FOR AN URBAN 20 
RENEWAL PROJEC T TO ANY PERSON FOR 	RESIDENTIAL, RECREATIONAL , 21 
COMMERCIAL , INDUSTRIAL, EDUCATIONAL , OR OTHER USES OR FOR PUBLIC USE, OR 22 
IT MAY RETAIN THE PR OPERTY OR INTEREST F OR PUBLIC USE , IN ACCORDANCE 23 
WITH THE URBAN RENEW AL PLAN AND SUBJECT TO WHATEVER COVENANT S, 24 
CONDITIONS, AND RESTRICTIONS , INCLUDING COVENANTS RUNNING WITH THE 25 
LAND, AS IT CONSIDERS NECE SSARY OR DESIRABLE T O ASSIST IN PREVENTI NG THE 26 
DEVELOPMENT OR SPREA D OF FUTURE BLIGHTED AREAS OR TO OTHERWIS E CARRY 27 
OUT THE PURPOSES OF THIS APPENDIX. THE PURCHASERS O R LESSEES AND THEIR 28 
SUCCESSORS AND ASSIG NS SHALL BE OBLIGATE D TO DEVOTE THE REAL PROPERTY 29 
ONLY TO THE USES SPE CIFIED IN THE URBAN RENEWAL PLAN AND MAY BE 30 
OBLIGATED TO COMPLY 	WITH WHATEVER OTHER 	REQUIREMENTS THE 31 
MUNICIPALITY DETERMI NES TO BE IN THE PUB LIC INTEREST, INCLUDING THE 32 
OBLIGATION TO BEGIN WITHIN A REASONABLE TIME ANY IMPROVEMENT S ON THE 33 
REAL PROPERTY REQUIR ED BY THE URBAN RENE WAL PLAN. THE REAL PROPERTY 34 
OR INTEREST MAY NOT BE SOLD, LEASED, OTHERWISE TRANSFERRE D, OR RETAINED 35 
AT LESS THAN ITS FAI R VALUE FOR USES IN ACCO RDANCE WITH THE URBA N 36 
RENEWAL PLAN . IN DETERMINING THE FA IR VALUE OF REAL PRO PERTY FOR USES 37 
IN ACCORDANCE WITH T HE URBAN RENEWAL PLA N, THE MUNICIPALITY SHA LL TAKE 38 
INTO ACCOUNT AND GIV E CONSIDERATION TO T HE USES PROVIDED IN THE PLAN, 39  10 	HOUSE BILL 543  
 
 
THE RESTRICTIONS ON , AND THE COVENANTS , CONDITIONS, AND OBLIGATIONS 1 
ASSUMED BY THE PURCH ASER OR LESSEE OR BY THE MUNICIPALITY RET AINING THE 2 
PROPERTY, AND THE OBJECTIVES O F THE PLAN FOR THE P REVENTION OF THE 3 
RECURRENCE OF BLIGHT ED AREAS. IN ANY INSTRUMENT OR CONVEYANCE TO A 4 
PRIVATE PURCHASER OR LESSEE, THE MUNICIPALITY MAY PROVIDE THAT THE 5 
PURCHASER OR LESSEE MAY NOT SELL, LEASE, OR OTHERWISE TRANSFE R THE REAL 6 
PROPERTY WITHOUT THE PRIOR WRITTEN CONSEN T OF THE MUNICIPALIT Y UNTIL 7 
THE PURCHASER OR LES SEE HAS COMPL ETED THE CONSTRUCTIO N OF ANY OR ALL 8 
IMPROVEMENTS WHICH T HE PURCHASER OR LESS EE HAS BEEN OBLIGATE D TO 9 
CONSTRUCT ON THE PRO PERTY. REAL PROPERTY ACQUIRE D BY THE MUNICIPALIT Y 10 
WHICH, IN ACCORDANCE WITH T HE PROVISIONS OF THE URBAN RENEWAL PLAN , IS 11 
TO BE TRANSFER RED, SHALL BE TRANSFERRED AS RAPIDLY AS FEASIB LE IN THE 12 
PUBLIC INTEREST CONS ISTENT WITH THE CARR YING OUT OF THE PROV ISIONS OF 13 
THE URBAN RENEWAL PL AN. ANY CONTRACT FOR THE TRANSFER AND THE URB AN 14 
RENEWAL PLAN (OR ANY PART OR PARTS OF THE CONTRACT OR P LAN AS THE 15 
MUNICIPALITY DETERMI NES) MAY BE RECORDED IN T HE LAND RECORDS OF T HE 16 
COUNTY IN WHICH THE MUNICIPALITY IS SITU ATED IN A MANNER SO AS TO AFFORD 17 
ACTUAL OR CONSTRUCTI VE NOTICE OF IT. 18 
 
 (B) THE MUNICIPALITY , BY ORDINANCE , MAY DISPOSE OF REAL PROPERTY 19 
IN AN URBAN RENEWAL AREA TO PRIVATE PERSONS . THE MUNICIPALITY MAY , BY 20 
PUBLIC NOTICE BY PUB LICATION IN A NEWSPA PER HAVING A GENERAL 21 
CIRCULATION IN THE C OMMUNITY, INVITE PROPOSALS FRO M AND MAKE AVAILABLE 22 
ALL PERTINENT INFORM ATION TO PRIVATE RED EVELOPERS OR ANY PER SONS 23 
INTERESTED IN UNDERT AKING TO REDEVELOP O R REHABILITATE AN UR BAN 24 
RENEWAL AREA , OR ANY PART THEREOF . THE NOTICE SHALL IDEN TIFY THE AREA, 25 
OR PORTION THEREOF , AND SHALL STATE THAT PROPOSALS SHALL BE M ADE BY 26 
THOSE INTERESTED WIT HIN A SPECIFIED PERI OD. THE MUNICIPALITY SHALL 27 
CONSIDER ALL REDEVEL OPMENT OR REHABILITA TION PROPOSALS AND T HE 28 
FINANCIAL AND LEGAL ABILITY OF THE PERSO NS MAKING PROPOSALS TO CARRY 29 
THEM OUT, AND MAY NEGOTIATE WI TH ANY PERSONS FOR P ROPOSALS FOR THE 30 
PURCHASE, LEASE, OR OTHER TRANSFER OF ANY REAL PROPERTY ACQ UIRED BY 31 
THE MUNICIPALITY IN THE URBAN RENEWAL AR EA. THE MUNICIPALITY MAY ACCEPT 32 
ANY PROPOSAL AS IT D EEMS TO BE IN THE PU BLIC INTEREST AND IN FURTHERANCE 33 
OF THE PURPOSES OF T HIS APPENDIX. THEREAFTER , THE MUNICIPALITY MAY 34 
EXECUTE AND DEL IVER CONTRACTS , DEEDS, LEASES, AND OTHER INSTRUMENT S 35 
AND TAKE ALL STEPS N ECESSARY TO EFFECTUA TE THE TRANSFERS . 36 
 
 (C) THE MUNICIPALITY MAY OPERATE TEMPORARILY AND MAINTAIN REAL 37 
PROPERTY ACQUIRED BY IT IN AN URBAN RENEW AL AREA FOR OR IN CO NNECTION 38 
WITH AN URBAN RENEWAL PROJECT PENDING THE DISPOSIT ION OF THE PROPERTY 39 
AS AUTHORIZED IN THI S APPENDIX, WITHOUT REGARD TO TH E PROVISIONS OF 40 
SUBSECTION (A), FOR USES AND PURPOSE S CONSIDERED DESIRAB LE EVEN THOUGH 41   	HOUSE BILL 543 	11 
 
 
NOT IN CONFORMITY WI TH THE URBAN RENEWAL PLAN. 1 
 
 (D) ANY INSTRUMENT EXECUTED BY THE MUNICIPALITY AND PURPORTING 2 
TO CONVEY ANY RIGHT , TITLE, OR INTEREST IN ANY P ROPERTY UNDER THIS 3 
APPENDIX SHALL BE PR ESUMED CONCLUSIVELY TO HAVE BEEN EXECUTE D IN 4 
COMPLIANCE WITH THE PROVISIONS OF THIS A PPENDIX INSOFAR AS T ITLE OR 5 
OTHER INTEREST OF ANY BONA FIDE PURCHASERS , LESSEES, OR TRANSFEREES OF 6 
THE PROPERTY IS CONC ERNED. 7 
 
A1–109. EMINENT DOMAIN . 8 
 
 CONDEMNATION OF LAND OR PROPERTY UNDER TH E PROVISIONS OF THIS 9 
APPENDIX SHALL BE IN ACCORDANCE WITH THE PROCEDURE PROVIDED I N THE 10 
REAL PROPERTY ARTICLE OF THE ANNOTATED CODE OF MARYLAND. 11 
 
A1–110. ENCOURAGEMENT OF PRIV ATE ENTERPRISE . 12 
 
 THE MUNICIPALITY , TO THE EXTENT IT DET ERMINES TO BE FEASIB LE IN 13 
CARRYING OUT THE PRO VISIONS OF THIS APPE NDIX, SHALL AFFORD MAXIMUM 14 
OPPORTUNITY TO THE R EHABILITATION OR RED EVELOPMENT OF ANY UR BAN 15 
RENEWAL AREA BY PRIV ATE ENTERPRISE CONSI STENT WITH THE SOUND NEEDS OF 16 
THE MUNICIPALITY AS A WHOLE. THE MUNICIPALITY SHAL L GIVE CONSIDERATION 17 
TO THIS OBJECTIVE IN EXERCISING ITS POWER S UNDER THIS APPENDI X. 18 
 
A1–111. GENERAL OBLIGATION BO NDS. 19 
 
 FOR THE PURPOSE OF FI NANCING AND CARRYING OUT AN URBAN RENEWAL 20 
PROJECT AND RELATED ACTIVITIES, THE MUNICIPALITY MAY ISSUE AND SELL ITS 21 
GENERAL OBLIGATION B ONDS. ANY BONDS ISSUED BY T HE MUNICIPALITY 22 
PURSUANT TO THIS SEC TION SHALL BE ISSUED IN THE MANNER AND WITHIN TH E 23 
LIMITATIONS PRESCRIB ED BY APPLICABLE LAW FOR THE ISSUANCE AND 24 
AUTHORIZATION OF GEN ERAL OBLIGATION BOND S BY THE MUNICIPALIT Y, AND 25 
ALSO WITHIN LIMITATI ONS DETERMINED BY TH E MUNICIPALITY. 26 
 
A1–112. REVENUE BONDS . 27 
 
 (A) IN ADDITION TO THE AU THORITY CONFERRED BY SECTION A1–111 OF 28 
THIS APPENDIX, THE MUNICIPALITY MAY ISSUE REVENUE BONDS TO FINANCE THE 29 
UNDERTAKING OF ANY U RBAN RENEWAL PROJECT AND RELATED ACTIVITI ES. ALSO, 30 
IT MAY ISSUE REFUNDI NG BONDS FOR THE PAY MENT OR RETIR EMENT OF THE 31 
BONDS ISSUED PREVIOU SLY BY IT. THE BONDS SHALL BE MA DE PAYABLE, AS TO 32 
BOTH PRINCIPAL AND I NTEREST, SOLELY FROM THE INCO ME, PROCEEDS, 33 
REVENUES, AND FUNDS OF THE MUN ICIPALITY DERIVED FR OM OR HELD IN 34  12 	HOUSE BILL 543  
 
 
CONNECTION WITH THE UNDERTAKING AND CARR YING OUT OF URBAN RENEWAL 1 
PROJECTS UNDER THIS APPENDIX. HOWEVER, PAYMENT OF THE BONDS , BOTH AS 2 
TO PRINCIPAL AND INT EREST, MAY BE FURTHER SECUR ED BY A PLEDGE OF AN Y 3 
LOAN, GRANT, OR CONTRIBUTION FROM THE FEDERAL GOVERNME NT OR OTHER 4 
SOURCE, IN AID OF ANY URBAN RENEWAL PROJECTS OF THE MUNICIPALITY UNDER 5 
THIS APPENDIX, AND BY A MORTGAGE OF ANY URBAN RENEWAL PR OJECT, OR ANY 6 
PART OF A PROJECT , TITLE TO WHICH IS IN THE MUNICIPALITY . IN ADDITION, THE 7 
MUNICIPALITY MAY ENT ER INTO AN INDENTURE OF TRUST WITH ANY PR IVATE 8 
BANKING INSTITUTION OF TH IS STATE HAVING TRUST PO WERS AND MAY MAKE IN 9 
THE INDENTURE OF TRU ST COVENANTS AND COM MITMENTS REQUIRED BY ANY 10 
PURCHASER FOR THE AD EQUATE SECURITY OF T HE BONDS. 11 
 
 (B) BONDS ISSUED UNDER TH IS SECTION DO NOT CO NSTITUTE AN 12 
INDEBTEDNESS WITH IN THE MEANING OF AN Y CONSTITUTIONAL OR STATUTORY 13 
DEBT LIMITATION OR R ESTRICTION, ARE NOT SUBJECT TO T HE PROVISIONS OF ANY 14 
OTHER LAW OR CHARTER RELATING TO THE AUTH ORIZATION, ISSUANCE, OR SALE 15 
OF BONDS , AND ARE EXEMPTED SPE CIFICALLY FROM THE R ESTRICTIONS 16 
CONTAINED IN §§ 19–205 AND 19–206 OF THE LOCAL GOVERNMENT ARTICLE OF 17 
THE ANNOTATED CODE OF MARYLAND. BONDS ISSUED UNDER TH E PROVISIONS OF 18 
THIS APPENDIX ARE DE CLARED TO BE ISSUED FOR AN ESSENTIAL PUB LIC AND 19 
GOVERNMENTAL PURPOSE AND, TOGETHER WITH INTERE ST ON THEM AND INCOME 20 
FROM THEM, ARE EXEMPT FROM ALL TAXES. 21 
 
 (C) BONDS ISSUED UNDER TH IS SECTION SHALL BE AUTHORIZED BY 22 
RESOLUTION OR ORDINA NCE OF THE LEGISLATI VE BODY OF THE MUNIC IPALITY. 23 
THEY MAY BE ISSUED IN ONE OR MORE SERIES A ND SHALL: 24 
 
 (1) BEAR A DATE OR DATES; 25 
 
 (2) MATURE AT A TIME OR T IMES; 26 
 
 (3) BEAR INTEREST AT A RA TE OR RATES; 27 
 
 (4) BE IN A DENOMINATION OR DENOMINATIONS ; 28 
 
 (5) BE IN A FORM EITHER W ITH OR WITHOUT COUPO N OR 29 
REGISTERED; 30 
 
 (6) CARRY A CONVERSION OR REGISTRATION PRIVILE GE; 31 
 
 (7) HAVE A RANK OR PRIORI TY; 32 
 
 (8) BE EXECUTED IN A MANN ER; 33   	HOUSE BILL 543 	13 
 
 
 
 (9) BE PAYABLE IN A MEDIU M OF PAYMENT , AT A PLACE OR PLACES , 1 
AND BE SUBJECT TO TE RMS OF REDEMPTION (WITH OR WITHOUT PREM IUM); 2 
 
 (10) BE SECURED IN A MANNE R; AND 3 
 
 (11) HAVE OTHER CHARACTERI STICS, AS ARE PROVIDED BY T HE 4 
RESOLUTION, TRUST INDENTURE , OR MORTGAGE ISSUED P URSUANT TO IT. 5 
 
 (D) THESE BONDS MAY NOT B E SOLD AT LESS THAN PAR VALUE AT PUBLIC 6 
SALES WHICH ARE HELD AFTER NOTICE IS PUBL ISHED PRIOR TO THE S ALE IN A 7 
NEWSPAPER HAVING A G ENERAL CIR CULATION IN THE AREA IN WHICH THE 8 
MUNICIPALITY IS LOCA TED AND IN WHATEVER OTHER MEDIUM OF PUBL ICATION AS 9 
THE MUNICIPALITY MAY DETERMINE. THE BONDS MAY BE EXCH ANGED ALSO FOR 10 
OTHER BONDS ON THE B ASIS OF PAR. HOWEVER, THE BONDS MAY NOT BE SOLD TO 11 
THE FEDERAL GOVERNMENT AT PRIVAT E SALE AT LESS THAN PAR, AND, IN THE 12 
EVENT LESS THAN ALL OF THE AUTHORIZED PR INCIPAL AMOUNT OF TH E BONDS IS 13 
SOLD TO THE FEDERAL GOVERNMENT , THE BALANCE MAY NOT BE SOLD AT PRIVATE 14 
SALE AT LESS THAN PA R AT AN INTEREST COS T TO THE MUNICIPA LITY WHICH DOES 15 
NOT EXCEED THE INTER EST COST TO THE MUNI CIPALITY OF THE PORT ION OF THE 16 
BONDS SOLD TO THE FE DERAL GOVERNMENT . 17 
 
 (E) IN CASE ANY OF THE PU BLIC OFFICIALS OF TH E MUNICIPALITY WHOSE 18 
SIGNATURES APPEAR ON ANY BONDS OR COUPONS ISSUED UNDER THIS APPENDIX 19 
CEASE TO BE OFFICIAL S OF THE MUNICIPALIT Y BEFORE THE DELIVER Y OF THE 20 
BONDS OR IN THE EVEN T ANY OF THE OFFICIA LS HAVE BECOME SUCH AFTER THE 21 
DATE OF ISSUE OF THE M, THE BONDS ARE VALID AND BINDING OBLIGATI ONS OF THE 22 
MUNICIPALITY IN ACCO RDANCE WITH TH EIR TERMS. ANY PROVISION OF ANY LAW 23 
TO THE CONTRARY NOTW ITHSTANDING, ANY BONDS ISSUED PUR SUANT TO THIS 24 
APPENDIX ARE FULLY N EGOTIABLE. 25 
 
 (F) IN ANY SUIT, ACTION, OR PROCEEDING INVOLV ING THE VALIDITY OR 26 
ENFORCEABILITY OF AN Y BOND ISSUED UNDER THIS APPENDIX, OR THE SECURITY 27 
FOR IT, ANY BOND WHICH RECIT ES IN SUBSTANCE THAT IT HAS BEEN ISSUED B Y THE 28 
MUNICIPALITY IN CONN ECTION WITH AN URBAN RENEWAL PROJECT SHAL L BE 29 
CONSIDERED CONCLUSIV ELY TO HAVE BEEN ISS UED FOR THAT PURPOSE , AND THE 30 
PROJECT SHALL BE CON SIDERED C ONCLUSIVELY TO HAVE BEEN PLANNED , 31 
LOCATED, AND CARRIED OUT IN A CCORDANCE WITH THE P ROVISIONS OF THIS 32 
APPENDIX. 33 
 
 (G) ALL BANKS, TRUST COMPANIES , BANKERS, SAVINGS BANKS , AND 34 
INSTITUTIONS, BUILDING AND LOAN AS SOCIATIONS, SAVINGS AND LOAN 35 
ASSOCIATIONS, INVESTMENT COMPANIES , AND OTHER PERSONS CA RRYING ON A 36  14 	HOUSE BILL 543  
 
 
BANKING OR INVESTMEN T BUSINESS; ALL INSURANCE COMPAN IES, INSURANCE 1 
ASSOCIATIONS, AND OTHER PERSONS CA RRYING ON AN INSURAN CE BUSINESS; AND 2 
ALL EXECUTORS , ADMINISTRATORS , CURATORS, TRUSTEES, AND OTHER 3 
FIDUCIARIES, MAY LEGALLY INVEST A NY SINKING FUNDS , MONEYS, OR OTHER 4 
FUNDS BELONGING TO T HEM OR WITHIN THEIR CONTROL IN ANY BONDS OR OTHER 5 
OBLIGATIONS ISSUED B Y THE MUNICIPALITY P URSUANT TO THIS APPE NDIX. 6 
HOWEVER, THE BONDS AND OTHER OBLIGATIONS SHALL BE SECURED BY AN 7 
AGREEMENT BETWEEN TH E ISSUER AND THE FED ERAL GOVERNMENT IN W HICH THE 8 
ISSUER AGREES TO BOR ROW FROM THE FEDERAL GOVERNMENT AND THE F EDERAL 9 
GOVERNMENT AGREES TO LEND TO THE ISSUER , PRIOR TO THE MATURIT Y OF THE 10 
BONDS OR OTHER OBLIG ATIONS, MONEYS IN AN AMOUN T WHICH (TOGETHER WITH 11 
ANY OTHER MONEYS COM MITTED IRREVOCABLY T O THE PAYMENT OF PRI NCIPAL 12 
AND INTEREST ON THE BONDS OR OTHER OBLIG ATIONS) WILL SUFFICE TO PAY THE 13 
PRINCIPAL OF THE BON DS OR OTHER OBLIGATI ONS WITH INTEREST TO MATURITY 14 
ON THEM. THE MONEYS UNDE R THE TERMS OF THE A GREEMENT SHALL BE 15 
REQUIRED TO BE USED FOR THE PURPOSE OF P AYING THE PRINCIPAL OF AND THE 16 
INTEREST ON THE BOND S OR OTHER OBLIGATIO NS AT THEIR MATURITY . THE BONDS 17 
AND OTHER OBLIGATION S SHALL BE AUTHORIZE D SECURITY FOR ALL P UBLIC 18 
DEPOSITS. THIS SECTION AUTHORIZ ES ANY PERSONS OR PU BLIC OR PRIVATE 19 
POLITICAL SUBDIVISIO NS AND OFFICERS TO U SE ANY FUNDS OWNED O R 20 
CONTROLLED BY THEM F OR THE PURCHASE OF A NY BONDS OR OTHER 21 
OBLIGATIONS. WITH REGARD TO LEGAL INVESTMENTS , THIS SECTION MAY NOT BE 22 
CONSTRUED TO RELIEVE ANY PE RSON OF ANY DUTY OF EXERCISING REASONABL E 23 
CARE IN SELECTING SE CURITIES. 24 
 
A1–113. SHORT TITLE. 25 
 
 THIS APPENDIX SHALL B E KNOWN AND MAY BE C ITED AS THE HANCOCK 26 
URBAN RENEWAL AUTHORITY FOR BLIGHT CLEARANCE ACT. 27 
 
A1–114. AUTHORITY TO AMEND OR REPEAL. 28 
 
 THIS APPENDIX, ENACTED PURSUANT TO ARTICLE III, SECTION 61 OF THE 29 
MARYLAND CONSTITUTION, MAY BE AMENDED OR RE PEALED ONLY BY THE 30 
GENERAL ASSEMBLY OF MARYLAND. 31 
 
 SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect 32 
October 1, 2022. 33