Maryland 2023 2023 Regular Session

Maryland House Bill HB561 Introduced / Bill

Filed 02/03/2023

                     
 
EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW. 
        [Brackets] indicate matter deleted from existing law. 
          *hb0561*  
  
HOUSE BILL 561 
L3   	3lr1133 
HB 1385/20 – ENT   	CF SB 313 
By: Carroll County Delegation 
Introduced and read first time: February 3, 2023 
Assigned to: Environment and Transportation 
 
A BILL ENTITLED 
 
AN ACT concerning 1 
 
Town of Mount Airy (Carroll County and Frederick County) – Urban Renewal 2 
Authority 3 
 
FOR the purpose of granting the Town of Mount Airy in Carroll County and Frederick 4 
County the authority to exercise urban renewal powers within an urban renewal 5 
area under Article III, Section 61 of the Maryland Constitution; authorizing the 6 
municipality to levy certain taxes and issue general obligation bonds and revenue 7 
bonds to carry out urban renewal powers; and generally relating to urban renewal 8 
authority for slum and blight clearance for the Town of Mount Airy in Carroll County 9 
and Frederick County. 10 
 
BY adding to 11 
 Chapter 99 – Charter of the Town of Mount Airy 12 
Section A1–101 through A1–114 to be under the new heading “Appendix I – Urban 13 
Renewal Authority for Slum Clearance” 14 
 Public Local Laws of Maryland – Compilation of Municipal Charters 15 
 (2014 Replacement Edition, Revisions Current as of November 2021) 16 
 
 SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMB LY OF MARYLAND, 17 
That the Laws of Maryland read as follows: 18 
 
Chapter 99 – Charter of the Town of Mount Airy 19 
 
APPENDIX I – URBAN RENEWAL AUTHORITY FOR SLUM CLEARANCE 20 
 
A1–101. DEFINITIONS. 21 
 
 (A) IN THIS APPENDIX THE FOLLOWING WORDS HAVE THE MEANINGS 22 
INDICATED. 23 
  2 	HOUSE BILL 561  
 
 
 (B) “BLIGHTED AREA ” MEANS AN AREA OR SIN GLE PROPERTY IN WHIC H 1 
THE BUILDING OR BUIL DINGS HAVE DECLINED IN PRODUCTIVITY BY R EASON OF 2 
OBSOLESCENCE , DEPRECIATION , OR OTHER CAUSES TO A N EXTENT THEY NO 3 
LONGER JUSTIFY FUNDA MENTAL REPAIRS AND A DEQUATE MAINTENANCE . 4 
 
 (C) “BONDS” MEANS ANY BONDS (INCLUDING REFUNDING BONDS), NOTES, 5 
INTERIM CERTIFICATES , CERTIFICATES OF INDE BTEDNESS, DEBENTURES , OR 6 
OTHER OBLIGATIONS . 7 
 
 (D) “FEDERAL GOVERNMENT ” MEANS THE UNITED STATES OF AMERICA OR 8 
ANY AGENCY OR INSTRU MENTALITY, CORPORATE OR OTHERWI SE, OF THE UNITED 9 
STATES OF AMERICA. 10 
 
 (E) “MUNICIPALITY” MEANS THE TOWN OF MOUNT AIRY, MARYLAND. 11 
 
 (F) “PERSON” MEANS ANY INDIVIDUAL , FIRM, PARTNERSHIP , 12 
CORPORATION , COMPANY, ASSOCIATION, JOINT STOCK ASSOCIAT ION, OR BODY 13 
POLITIC. IT INCLUDES ANY TRUST EE, RECEIVER, ASSIGNEE, OR OTHER PERSON 14 
ACTING IN SIMILAR RE PRESENTATIVE CAPACIT Y. 15 
 
 (G) “SLUM AREA ” MEANS ANY AREA OR SI NGLE PROPERTY WHERE 16 
DWELLINGS PREDOMINAT E WHICH , BY REASON OF DEPRECI	ATION, 17 
OVERCROWDING , FAULTY ARRANGEMENT O R DESIGN, LACK OF VENTILATION , 18 
LIGHT, OR SANITARY FACILITI ES, OR ANY COMBINATION O F THESE FACTORS , ARE 19 
DETRIMENTAL TO THE P UBLIC SAFETY, HEALTH, OR MORALS. 20 
 
 (H) “URBAN RENEWAL AREA ” MEANS A SLUM AREA OR A BLIGHTED AREA OR 21 
A COMBINATION OF THE M WHICH THE MUNIC IPALITY DESIGNATES A S APPROPRIATE 22 
FOR AN URBAN RENEWAL PROJECT. 23 
 
 (I) “URBAN RENEWAL PLAN ” MEANS A PLAN , AS IT EXISTS FROM TI ME TO 24 
TIME, FOR AN URBAN RENEWAL PROJECT. THE PLAN SHALL BE SUF FICIENTLY 25 
COMPLETE TO INDICATE ANY LAND ACQUISITION , DEMOLITION, AND REMOVAL OF 26 
STRUCTURES , REDEVELOPMENT , IMPROVEMENTS , AND REHABILITATION A S MAY BE 27 
PROPOSED TO BE CARRI ED OUT IN THE URBAN RENEWAL AREA , ZONING AND 28 
PLANNING CHANGES , IF ANY, LAND USES, MAXIMUM DENSITY , AND BUILDING 29 
REQUIREMENTS . 30 
 
 (J) “URBAN RENEWAL PROJECT ” MEANS UNDERTAKINGS A ND ACTIVITIES 31 
OF A MUNICIPALITY IN AN URBAN RENEWAL ARE A FOR THE ELIMINATIO N AND FOR 32 
THE PREVENTION OF TH E DEVELOPMENT OR SPR EAD OF SLUMS AND BLI GHT, AND 33 
MAY INVOLVE SLUM CLE ARANCE AND REDEVELOP MENT IN AN URBAN REN EWAL 34 
AREA, OR REHABILITATION OR CONSERVA TION IN AN URBAN REN EWAL AREA, OR 35   	HOUSE BILL 561 	3 
 
 
ANY COMBINATION OR P ART OF THEM IN ACCOR DANCE WITH AN URBAN RENEWAL 1 
PLAN. THESE UNDERTAKINGS AN D ACTIVITIES MAY INC LUDE: 2 
 
 (1) ACQUISITION OF A SLUM AREA OR A BLIGHTED A REA OR PORTION 3 
OF THEM; 4 
 
 (2) DEMOLITION AND REMOVA L OF BUILDINGS AND I MPROVEMENTS ; 5 
 
 (3) INSTALLATION , CONSTRUCTION OR RECO NSTRUCTION OF 6 
STREETS, UTILITIES, PARKS, PLAYGROUNDS , AND OTHER IMPROVEMEN TS 7 
NECESSARY FOR CARRYI NG OUT THE URBAN REN EWAL OBJECTIVES OF T HIS 8 
APPENDIX IN ACCORDANCE WITH THE URBAN RENEWAL PLAN ; 9 
 
 (4) DISPOSITION OF ANY PR OPERTY ACQUIRED IN T HE URBAN 10 
RENEWAL AREA , INCLUDING SALE , INITIAL LEASING , OR RETENTION BY THE 11 
MUNICIPALITY ITSELF , AT ITS FAIR VALUE FO R USES IN ACCORDANCE WITH THE 12 
URBAN RENEWAL PLAN ; 13 
 
 (5) CARRYING OUT PLANS FO R A PROGRAM OF VOLUN TARY OR 14 
COMPULSORY REPAIR AN D REHABILITATION OF BUILDINGS OR OTHER 15 
IMPROVEMENTS IN ACCO RDANCE WITH THE URBA N RENEWAL PLAN ; 16 
 
 (6) ACQUISITION OF ANY OT HER REAL PROPERTY IN THE URBAN 17 
RENEWAL AREA WHERE N ECESSARY TO ELIMINATE UNHEA LTHFUL, UNSANITARY, 18 
OR UNSAFE CONDITIONS , LESSEN DENSITY , ELIMINATE OBSOLETE O R OTHER USES 19 
DETRIMENTAL TO THE P UBLIC WELFARE , OR OTHERWISE TO REMO VE OR PREVENT 20 
THE SPREAD OF BLIGHT OR DETERIORATION , OR TO PROVIDE LAND F OR NEEDED 21 
PUBLIC FACILITIES; AND 22 
 
 (7) THE PRESERVATION , IMPROVEMENT , OR EMBELLISHMENT OF 23 
HISTORIC STRUCTURES OR MONUMENTS . 24 
 
A1–102. POWERS. 25 
 
 (A) THE MUNICIPALITY MAY UNDERTAKE AND CARRY OUT URBAN RENEWAL 26 
PROJECTS. 27 
 
 (B) THESE PROJECTS SHALL BE LIMITED: 28 
 
 (1) TO SLUM CLEARANCE IN SLUM OR BLIGHTED AREAS AND 29 
REDEVELOPMENT OR THE REHABILITATION OF SL UM OR BLIGHTED AREAS ; 30 
 
 (2) TO ACQUIRE IN CONNECT ION WITH THOSE PROJE CTS, WITHIN 31  4 	HOUSE BILL 561  
 
 
THE CORPORATE LIMITS OF THE MUNICIPALITY , LAND AND PROPERTY 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 MUNI CIPALITY BY EXERCISI NG 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 TAKEN BY T HE 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 PURSU ANT 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 FURTHERANC E OF THEM. 26 
 
A1–103. ADDITIONAL POW ERS. 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 OBJECTS 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 MAY INCLU DE, BUT 35 
ARE NOT LIMITED TO :  36   	HOUSE BILL 561 	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 OCCUP ANCY OF 4 
BUILDINGS AND I MPROVEMENTS AND TO T	HE COMPULSORY 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 OF 9 
URBAN RENEWAL P ROJECTS AND RELATED ACTIVITIES; AND TO APPLY FOR , 10 
ACCEPT, AND UTILIZE GRANTS O F FUNDS FROM THE FED ERAL GOVERNMENT OR 11 
OTHER GOVERNMENTAL E NTITY FOR THOSE PURP OSES; 12 
 
 (2) TO PREPARE PLANS FOR THE RELOCATION OF PE RSONS 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 MAD E, 17 
INCLUDING THE MAKING OF PAYMENT S FINANCED BY THE FE DERAL GOVERNMENT ; 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 AND ALL COSTS AND EX PENSES 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 IMPROV EMENTS, 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 ASS ESSMENTS FOR THOSE P URPOSES; 30 
 
 (III) TO BORROW MONEY AND TO A PPLY FOR AND ACCEPT 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 SOURCES , 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 561  
 
 
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 IMME DIATE 3 
DISBURSEMENT IN PROP ERTY OR SECU RITIES WHICH ARE LEG AL INVESTMENTS 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 MORTGAGE , PLEDGE, HYPOTHECATE , OR OTHERWISE 9 
ENCUMBER THAT PROPERTY ; 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 NECESSARY OR CONVENIENT TO THE EXERCISE OF ITS POWE RS 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 FE DERAL LAWS 21 
AS THE MUNICIPALITY CONSIDERS REA SONABLE AND APPROPRI ATE; 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 WHICH THE MUNICIPALI TY IS 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 I N CONNECTION 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 APP LY TO THE 34 
MUNICIPALITY IN ORDE R THAT THE OBJ ECTIVE OF REMEDYING SLUM AND 35   	HOUSE BILL 561 	7 
 
 
BLIGHTED AREAS AND P REVENTING ITS CAUSES WITHIN THE MUNICIPAL ITY MAY BE 1 
PROMOTED AND ACHIEVE D MOST EFFECTIVELY ; AND 2 
 
 (9) TO EXERCISE ALL OR AN Y PART OR COMBINATIO N OF THE 3 
POWERS GRANTED IN TH IS 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 PO WERS 8 
EXERCISED BY A SEPARATE PUBLIC BO DY OR AGENCY. 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 INCLUD E PROVISIONS ESTABLI SHING 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 WHATEVER ADDITI ONAL PROVISIO NS 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 TH E ORDINANCE, ARE VESTED IN THE PUBLIC 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 561  
 
 
PURSUANT TO SECTION A1–103(3) OF THIS APPENDIX . 1 
 
A1–106. INITIATION OF PROJECT . 2 
 
 IN ORDER TO INITIATE AN URBAN RENEWAL PROJECT, THE LEGISLATIVE 3 
BODY OF THE MUNICIPA LITY SHALL ADOPT A R ESOLUTION WHICH : 4 
 
 (1) FINDS THAT ONE OR MOR E SLUM OR BLIGHTED A REAS EXIST IN 5 
THE MUNICIPALITY ; 6 
 
 (2) LOCATES AND DEFINES T HE SLUM OR BLIGHTED AREA; AND 7 
 
 (3) FINDS THAT THE REHABILITATION , 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 PROJECT. 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 S LUM OR 14 
BLIGHTED AREAS IN TH E MUNICIPALITY , AND SHALL APPROVE TH E PLAN 15 
FORMALLY. THE MUNICIPALITY SHAL L HOLD A PUBLIC HEAR ING ON AN URBAN 16 
RENEWAL PROJECT AFTE R PUBLIC NOTICE OF I T BY PUBLICATION IN A NEWSPAPER 17 
HAVING A GENERAL CIR CULATION WITHIN THE CORPORATE LIMITS OF THE 18 
MUNICIPALITY. THE NOTICE SHALL DESC RIBE THE TIME , DATE, PLACE, AND 19 
PURPOSE OF THE HEARI NG, SHALL GENERAL LY IDENTIFY THE URBA N RENEWAL 20 
AREA COVERED BY THE PLAN, AND SHALL OUTLINE TH E GENERAL SCOPE OF T HE 21 
URBAN RENEWAL PROJEC T UNDER CONSIDERATIO N. FOLLOWING THE HEARING , 22 
THE MUNICIPALITY MAY APPROVE AN URBAN REN EWAL PROJECT AND THE PLAN 23 
THEREFOR IF IT FINDS THAT: 24 
 
 (1) A FEASIBLE METHOD EXIS TS FOR THE LOCATION OF ANY 25 
FAMILIES OR NATURAL PERSONS WHO WILL BE DISPLACED FROM THE U RBAN 26 
RENEWAL AREA IN DECE NT, SAFE, AND SANITARY DWELLIN G ACCOMMODATIONS 27 
WITHIN THEIR MEANS A ND WITHOUT UNDUE HAR DSHIP TO THE FAMILIE S OR 28 
NATURAL PERSONS ; 29 
 
 (2) THE URBAN RENEWAL PLA N CONFORMS SUBSTANTI ALLY TO THE 30 
MASTER PLAN OF THE M UNICIPALITY AS A WHO LE; AND 31 
 
 (3) THE URBAN RENEWAL PLA	N WILL AFFORD MAXIMU	M 32 
OPPORTUNITY , CONSISTENT WITH THE SOUND NEEDS OF THE M UNICIPALITY AS A 33   	HOUSE BILL 561 	9 
 
 
WHOLE, FOR THE REHABILITATION O R REDEVELOPMENT OF T HE URBAN RENEWAL 1 
AREA BY PRIVATE ENTE RPRISE. 2 
 
 (B) AN URBAN RENEWAL PLAN MAY BE MODIFIED AT A NY TIME. IF 3 
MODIFIED AFTER THE L EASE OR SALE OF REAL PROPERTY IN THE URBA N RENEWAL 4 
PROJECT AREA , THE MODIFICATION MAY BE CONDITIONED ON WHATE VER 5 
APPROVAL OF THE OWNE R, LESSEE, OR SUCCESSOR IN INTE REST AS THE 6 
MUNICIPALITY CONSIDE RS ADVISABLE. IN ANY EVENT, IT SHALL BE SUBJECT TO 7 
WHATEVER RIGHTS AT L AW OR IN EQUITY AS A LESSEE OR PURCHASER , OR THE 8 
SUCCESSOR OR SUCCESS ORS IN INTEREST, MAY BE ENTITLED TO A SSERT. WHERE 9 
THE PROPOSED MODIFIC ATION WILL CHANGE SU BSTANTIALLY THE URBA N 10 
RENEWAL PLAN AS APPR OVED PREVIOUSLY BY T HE MUNICIPALITY , THE 11 
MODIFICATION SHALL B E APPROVED FORMALLY BY THE MUNICIPALITY , AS IN THE 12 
CASE OF AN ORIGINAL PLAN. 13 
 
 (C) ON THE APPROVAL BY TH E MUNICIPALITY OF AN URBAN RENEWAL PLAN 14 
OR OF ANY MODIFICATI ON OF IT, THE PLAN OR MODIFICA TION SHALL BE 15 
CONSIDERED TO BE IN FULL FORCE AND EFFEC T FOR THE RESPECTIVE URBAN 16 
RENEWAL AREA . THE MUNICIPALITY MAY HAVE THE PLAN OR M ODIFICATION 17 
CARRIED OUT IN ACCOR DANCE WITH ITS TERMS . 18 
 
A1–108. DISPOSAL OF PROPERTY IN URBAN RENEWAL ARE A. 19 
 
 (A) THE MUNICIPALITY , BY ORDINANCE , MAY SELL, LEASE, OR OTHERWISE 20 
TRANSFER REAL PROPER TY OR ANY INTEREST I N IT ACQUIRED BY IT FOR AN URBAN 21 
RENEWAL PROJECT TO ANY PERSO N FOR RESIDENTIAL , RECREATIONAL , 22 
COMMERCIAL , INDUSTRIAL, EDUCATIONAL , OR OTHER USES OR FOR PUBLIC USE, OR 23 
IT MAY RETAIN THE PR OPERTY OR INTEREST F OR PUBLIC USE , IN ACCORDANCE 24 
WITH THE URBAN RENEW AL PLAN AND SUBJECT TO WHATEVER COVENANT S, 25 
CONDITIONS, AND RESTRICTIONS , INCLUDING COVENANTS RUNNING WITH THE 26 
LAND, AS IT CONSIDERS NECE SSARY OR DESIRABLE T O ASSIST IN PREVENTI NG THE 27 
DEVELOPMENT OR SPREA D OF FUTURE SLUMS OR BLIGHTED AREAS OR TO 28 
OTHERWISE CARRY OUT THE PURPOSES OF THIS APPENDIX. THE PURCHASERS OR 29 
LESSEES AND THEIR SU CCESSORS AND ASSIGNS SHALL BE OBLIGATED T O DEVOTE 30 
THE REAL PROPERTY ON LY TO THE USES SPECI FIED IN THE URBAN RE NEWAL PLAN, 31 
AND MAY BE OBLIGATED TO COMPLY WITH WHATE VER OTHER REQUIREMEN TS THE 32 
MUNICIPALITY DETERMI NES TO BE IN THE PUBLIC INTERE ST, INCLUDING THE 33 
OBLIGATION TO BEGIN WITHIN A REASONABLE TIME ANY IMPROVEMENT S ON THE 34 
REAL PROPERTY REQUIR ED BY THE URBAN RENE WAL PLAN. THE REAL PROPERTY 35 
OR INTEREST MAY NOT BE SOLD, LEASED, OTHERWISE TRANSFERRE D, OR RETAINED 36 
AT LESS THAN ITS FAIR VALUE FOR USES IN ACCORDAN CE WITH THE URBAN 37 
RENEWAL PLAN . IN DETERMINING THE FA IR VALUE OF REAL PRO PERTY FOR USES 38 
IN ACCORDANCE WITH T HE URBAN RENEWAL PLA N, THE MUNICIPALITY SHA LL TAKE 39  10 	HOUSE BILL 561  
 
 
INTO ACCOUNT AND GIV E CONSIDERATION TO T HE USES PROVIDED IN THE PLAN, 1 
THE RESTRICTIONS ON , AND THE COVENANTS , CONDITIONS, AND OBLIGATIONS 2 
ASSUMED BY THE PURCH ASER OR LESSEE OR BY THE MUNICIPALITY RET AINING THE 3 
PROPERTY, AND THE OBJECTIVES O F THE PLAN FOR THE P REVENTION OF THE 4 
RECURRENCE OF SLUM O R BLIGHTED AREAS . IN ANY INSTRUMENT OR CONVEYANCE 5 
TO A PRIVATE PURCHAS ER OR LESSEE, THE MUNICIPALITY MAY PROVIDE THAT THE 6 
PURCHASER OR LESSEE MAY NOT SELL, LEASE, OR OTHERWISE TRANSFE R THE REAL 7 
PROPERTY WITHOUT THE PRIOR WRITTEN CONSEN T OF THE MUNICIPALIT Y UNTIL 8 
THE PURCH ASER OR LESSEE HAS C OMPLETED THE CONSTRU CTION OF ANY OR ALL 9 
IMPROVEMENTS WHICH T HE PURCHASER OR LESS EE HAS BEEN OBLIGATE D TO 10 
CONSTRUCT ON THE PRO PERTY. REAL PROPERTY ACQUIRE D BY THE MUNICIPALIT Y 11 
WHICH, IN ACCORDANCE WITH T HE PROVISIONS OF THE URBAN RENEWAL PLAN, IS 12 
TO BE TRANSFERRED , SHALL BE TRANSFERRED AS RAPIDLY AS FEASIB LE IN THE 13 
PUBLIC INTEREST CONS ISTENT WITH THE CARR YING OUT OF THE PROV ISIONS OF 14 
THE URBAN RENEWAL PL AN. ANY CONTRACT FOR THE TRANSFER AND THE URB AN 15 
RENEWAL PLAN (OR ANY PART OR PARTS OF THE CONTRACT OR PLAN AS THE 16 
MUNICIPALITY DETERMI NES) MAY BE RECORDED IN T HE LAND RECORDS OF T HE 17 
COUNTY IN WHICH THE MUNICIPALITY IS SITU ATED IN A MANNER SO AS TO AFFORD 18 
ACTUAL OR CONSTRUCTI VE NOTICE OF IT. 19 
 
 (B) THE MUNICIPALITY , BY ORDINANCE , MAY DISPOSE OF REAL PROPERTY 20 
IN AN URBAN RENEWAL AREA TO PRIVATE PERS ONS. THE MUNICIPALITY MAY , BY 21 
PUBLIC NOTICE BY PUB LICATION IN A NEWSPA PER HAVING A GENERAL 22 
CIRCULATION IN THE C OMMUNITY, INVITE PROPOSALS FRO M AND MAKE AVAILABLE 23 
ALL PERTINENT INFORM ATION TO PRIVATE REDEVELOPERS OR ANY PERSONS 24 
INTERESTED IN UNDERT AKING TO REDEVELOP O R REHABILITATE AN UR BAN 25 
RENEWAL AREA , OR ANY PART THEREOF . THE NOTICE SHALL IDEN TIFY THE AREA, 26 
OR PORTION THEREOF , AND SHALL STATE THAT PROPOSALS SHALL BE M ADE BY 27 
THOSE INTERESTED WIT HIN A SPECIFIED PERIOD . THE MUNICIPALITY SHAL L 28 
CONSIDER ALL REDEVEL OPMENT OR REHABILITA TION PROPOSALS AND T HE 29 
FINANCIAL AND LEGAL ABILITY OF THE PERSO NS MAKING PROPOSALS TO CARRY 30 
THEM OUT, AND MAY NEGOTIATE WI TH ANY PERSONS FOR P ROPOSALS FOR THE 31 
PURCHASE, LEASE, OR OTHER TRANSFER OF ANY REAL PROPERTY AC QUIRED BY 32 
THE MUNICIPALITY IN THE URBAN RENEWAL AR EA. THE MUNICIPALITY MAY ACCEPT 33 
ANY PROPOSAL AS IT D EEMS TO BE IN THE PU BLIC INTEREST AND IN FURTHERANCE 34 
OF THE PURPOSES OF T HIS APPENDIX. THEREAFTER , THE MUNICIPA LITY MAY 35 
EXECUTE AND DELIVER CONTRACTS, DEEDS, LEASES, AND OTHER INSTRUMENT S 36 
AND TAKE ALL STEPS N ECESSARY TO EFFECTUA TE THE TRANSFERS . 37 
 
 (C) THE MUNICIPALITY MAY OPERATE TEMPORARILY AND MAINTAIN REAL 38 
PROPERTY ACQUIRED BY IT IN AN URBAN RENEW AL AREA FOR OR IN CONNECTION 39 
WITH AN URBAN RENEWA L PROJECT PENDING TH E DISPOSITION OF THE PROPERTY 40 
AS AUTHORIZED IN THI S APPENDIX, WITHOUT REGARD TO TH E PROVISIONS OF 41   	HOUSE BILL 561 	11 
 
 
SUBSECTION (A) OF THIS SECTION , FOR USES AND PURPOSE S CONSIDERED 1 
DESIRABLE EVEN THOUG H NOT IN CONFORMITY WITH THE URBAN RENEW AL PLAN. 2 
 
 (D) ANY INSTRUMENT EXECUT ED BY THE MUNICIPALI TY AND PURPORTING 3 
TO CONVEY ANY RIGHT , TITLE, OR INTEREST IN ANY P ROPERTY UNDER THIS 4 
APPENDIX SHALL BE PR ESUMED CONCLUSIVELY TO HAVE BEEN EXECUTE D IN 5 
COMPLIANCE WITH THE PROVISIONS OF THIS APPENDIX I NSOFAR AS TITLE OR 6 
OTHER INTEREST OF AN Y BONA FIDE PURCHASE RS, LESSEES, OR TRANSFEREES OF 7 
THE PROPERTY IS CONC ERNED. 8 
 
A1–109. EMINENT DOMAIN . 9 
 
 CONDEMNATION OF LAND OR PROPERTY UNDER TH E PROVISIONS OF THIS 10 
APPENDIX SHALL BE IN ACCORDANC E WITH THE PROCEDURE PROVIDED IN THE 11 
REAL PROPERTY ARTICLE OF THE ANNOTATED CODE OF MARYLAND. 12 
 
A1–110. ENCOURAGEMENT OF PRIV ATE ENTERPRISE . 13 
 
 THE MUNICIPALITY , TO THE EXTENT IT DET ERMINES TO BE FEASIB LE IN 14 
CARRYING OUT THE PRO VISIONS OF THIS APPE NDIX, SHALL AFFORD MAXIMUM 15 
OPPORTUNITY TO THE R EHABILITATION OR RED EVELOPMENT OF ANY UR BAN 16 
RENEWAL AREA BY PRIV ATE ENTERPRISE CONSI STENT WITH THE SOUND NEEDS OF 17 
THE MUNICIPALITY AS A WHOLE. THE MUNICIPALITY SHAL L GIVE CONSIDERATION 18 
TO THIS OBJECTIVE IN EXERCISING ITS POWERS UNDER THIS APPENDIX. 19 
 
A1–111. GENERAL OBLIGATION BO NDS. 20 
 
 FOR THE PURPOSE OF FI NANCING AND CARRYING OUT AN URBAN RENEWAL 21 
PROJECT AND RELATED ACTIVITIES, THE MUNICIPALITY MAY ISSUE AND SELL ITS 22 
GENERAL OBLIGATION B ONDS. ANY BONDS ISSUED BY T HE MUNICIPALITY 23 
PURSUANT TO THIS SEC TION SHALL BE ISSUED IN THE MANNER AND WI THIN THE 24 
LIMITATIONS PRESCRIB ED BY APPLICABLE LAW FOR THE ISSUANCE AND 25 
AUTHORIZATION OF GEN ERAL OBLIGATION BOND S BY THE MUNICIPALIT Y, AND 26 
ALSO WITHIN LIMITATI ONS DETERMINED BY TH E MUNICIPALITY. 27 
 
A1–112. REVENUE BONDS . 28 
 
 (A) IN ADDITION TO THE AU THORITY CONFERRED BY SECTION A1–111 OF 29 
THIS APPENDIX, THE MUNICIPALITY MAY ISSUE REVENUE BONDS TO FINANCE THE 30 
UNDERTAKING OF ANY U RBAN RENEWAL PROJECT AND RELATED ACTIVITI ES. ALSO, 31 
IT MAY ISSUE REFUNDING BONDS FOR THE PAYMENT OR RETIR EMENT OF THE 32 
BONDS ISSUED PREVIOU SLY BY IT. THE BONDS SHALL BE MA DE PAYABLE, AS TO 33 
BOTH PRINCIPAL AND I NTEREST, SOLELY FROM THE INCO ME, PROCEEDS, 34  12 	HOUSE BILL 561  
 
 
REVENUES, AND FUNDS OF THE MUN ICIPALITY DERIVED FR OM OR HELD IN 1 
CONNECTION WITH THE UNDER TAKING AND CARRYING OUT OF URBAN RENEWAL 2 
PROJECTS UNDER THIS APPENDIX. HOWEVER, PAYMENT OF THE BONDS , BOTH AS 3 
TO PRINCIPAL AND INT EREST, MAY BE FURTHER SECUR ED BY A PLEDGE OF AN Y 4 
LOAN, GRANT, OR CONTRIBUTION FROM THE FEDERAL GOVERNME NT OR OTHER 5 
SOURCE, IN AID OF ANY URBAN RENEWAL PROJECTS OF THE MUNICIPALITY UND ER 6 
THIS APPENDIX, AND BY A MORTGAGE OF ANY URBAN RENEWAL PR OJECT, OR ANY 7 
PART OF A PROJECT , TITLE TO WHICH IS IN THE MUNICIPALITY . IN ADDITION, THE 8 
MUNICIPALITY MAY ENT ER INTO AN INDENTURE OF TRUST W ITH ANY PRIVATE 9 
BANKING INSTITUTION OF THIS STATE HAVING TRUST PO WERS AND MAY MAKE IN 10 
THE INDENTURE OF TRU ST COVENANTS AND COM MITMENTS REQUIRED BY ANY 11 
PURCHASER FOR THE AD EQUATE SECURITY OF T HE BONDS. 12 
 
 (B) BONDS ISSUED UNDER TH IS SECTION DO NOT CONSTITUTE AN 13 
INDEBTEDNESS WITHIN THE MEANING OF ANY C ONSTITUTIONAL OR STA TUTORY 14 
DEBT LIMITATION OR R ESTRICTION, ARE NOT SUBJECT TO T HE PROVISIONS OF ANY 15 
OTHER LAW OR CHARTER RELATING TO THE AUTH ORIZATION, ISSUANCE, OR SALE 16 
OF BONDS , AND ARE EXEM PTED SPECIFICALLY FR OM THE RESTRICTIONS 17 
CONTAINED IN §§ 19–205 AND 19–206 OF THE LOCAL GOVERNMENT ARTICLE OF 18 
THE ANNOTATED CODE OF MARYLAND. BONDS ISSUED UNDER TH E PROVISIONS OF 19 
THIS APPENDIX ARE DE CLARED TO BE ISSUED FOR AN ESSENTIAL PUB LIC AND 20 
GOVERNMENT AL PURPOSE AND , TOGETHER WITH INTERE ST ON THEM AND INCOM E 21 
FROM THEM, ARE EXEMPT FROM ALL TAXES. 22 
 
 (C) BONDS ISSUED UNDER TH IS SECTION SHALL BE AUTHORIZED BY 23 
RESOLUTION OR ORDINA NCE OF THE LEGISLATI VE BODY OF THE MUNIC IPALITY. 24 
THEY MAY BE ISSUED IN ONE OR MORE SERIES AND SHALL : 25 
 
 (1) BEAR A DATE OR DATES ; 26 
 
 (2) MATURE AT A TIME OR T IMES; 27 
 
 (3) BEAR INTEREST AT A RA TE OR RATES; 28 
 
 (4) BE IN A DENOMINATION OR DENOMINATIONS ; 29 
 
 (5) BE IN A FORM EITHER W ITH OR WITHOUT COUPO N OR 30 
REGISTERED; 31 
 
 (6) CARRY A CONVERSION OR REGIST RATION PRIVILEGE ; 32 
 
 (7) HAVE A RANK OR PRIORI TY; 33 
   	HOUSE BILL 561 	13 
 
 
 (8) BE EXECUTED IN A MANN ER; 1 
 
 (9) BE PAYABLE IN A MEDIU M OF PAYMENT , AT A PLACE OR PLACES , 2 
AND BE SUBJECT TO TE RMS OF REDEMPTION (WITH OR WITHOUT PREM IUM); 3 
 
 (10) BE SECURED IN A M ANNER; AND 4 
 
 (11) HAVE OTHER CHARACTERI STICS, AS ARE PROVIDED BY T HE 5 
RESOLUTION, TRUST INDENTURE , OR MORTGAGE ISSUED P URSUANT TO IT. 6 
 
 (D) THESE BONDS MAY NOT B E SOLD AT LESS THAN PAR VALUE AT PUBLIC 7 
SALES WHICH ARE HELD AFTER NOTICE IS PUBL ISHED PRIOR TO THE SALE IN A 8 
NEWSPAPER HAVING A G ENERAL CIRCULATION I N THE AREA IN WHICH THE 9 
MUNICIPALITY IS LOCA TED AND IN WHATEVER OTHER MEDIUM OF PUBL ICATION AS 10 
THE MUNICIPALITY MAY DETERMINE. THE BONDS MAY BE EXCH ANGED ALSO FOR 11 
OTHER BONDS ON THE B ASIS OF PAR. HOWEVER, THE BONDS MAY NOT BE SOLD TO 12 
THE FEDERAL GOVERNME NT AT PRIVATE SALE A T LESS THAN PAR , AND, IN THE 13 
EVENT LESS THAN ALL OF THE AUTHORIZED PR INCIPAL AMOUNT OF TH E BONDS IS 14 
SOLD TO THE FEDERAL GOVERNMENT , THE BALANCE MAY NOT BE SOLD AT PRIVATE 15 
SALE AT LESS THAN PAR AT AN INTER EST COST TO THE MUNI CIPALITY WHICH DOES 16 
NOT EXCEED THE INTER EST COST TO THE MUNI CIPALITY OF THE PORT ION OF THE 17 
BONDS SOLD TO THE FE DERAL GOVERNMENT . 18 
 
 (E) IN CASE ANY OF THE PU BLIC OFFICIALS OF TH E MUNICIPALITY WHOSE 19 
SIGNATURES APPEAR ON ANY BONDS OR COUP ONS ISSUED UNDER THI S APPENDIX 20 
CEASE TO BE OFFICIAL S OF THE MUNICIPALIT Y BEFORE THE DELIVER Y OF THE 21 
BONDS OR IN THE EVEN T ANY OF THE OFFICIA LS HAVE BECOME SUCH AFTER THE 22 
DATE OF ISSUE OF THE M, THE BONDS ARE VALID AND BINDING OBLIGATI ONS OF THE 23 
MUNICIPALITY IN ACCO RDANCE WITH THEIR TE RMS. ANY PROVISION OF ANY LAW 24 
TO THE CONTRARY NOTW ITHSTANDING, ANY BONDS ISSUED PUR SUANT TO THIS 25 
APPENDIX ARE FULLY N EGOTIABLE. 26 
 
 (F) IN ANY SUIT, ACTION, OR PROCEEDING INVOLV ING THE VALIDITY OR 27 
ENFORCEABILIT Y OF ANY BOND ISSUED UNDER THIS APPENDIX , OR THE SECURITY 28 
FOR IT, ANY BOND WHICH RECIT ES IN SUBSTANCE THAT IT HAS BEEN ISSUED B Y THE 29 
MUNICIPALITY IN CONN ECTION WITH AN URBAN RENEWAL PROJECT SHAL L BE 30 
CONSIDERED CONCLUSIV ELY TO HAVE BEEN ISS UED FOR THAT PURP OSE, AND THE 31 
PROJECT SHALL BE CON SIDERED CONCLUSIVELY TO HAVE BEEN PLANNED , 32 
LOCATED, AND CARRIED OUT IN A CCORDANCE WITH THE P ROVISIONS OF THIS 33 
APPENDIX. 34 
 
 (G) ALL BANKS, TRUST COMPANIES , BANKERS, SAVINGS BANKS , AND 35 
INSTITUTIONS, BUILDING AND LOAN AS SOCIATIONS, SAVINGS AND LOAN 36  14 	HOUSE BILL 561  
 
 
ASSOCIATIONS, INVESTMENT COMPANIES , AND OTHER PERSONS CA RRYING ON A 1 
BANKING OR INVESTMEN T BUSINESS; ALL INSURANCE COMPAN IES, INSURANCE 2 
ASSOCIATIONS, AND OTHER PERSONS CA RRYING ON AN INSURAN CE BUSINESS; AND 3 
ALL EXECUTORS , ADMINISTRATOR S, CURATORS, TRUSTEES, AND OTHER 4 
FIDUCIARIES, MAY LEGALLY INVEST A NY SINKING FUNDS , MONEYS, OR OTHER 5 
FUNDS BELONGING TO T HEM OR WITHIN THEIR CONTROL IN ANY BONDS OR OTHER 6 
OBLIGATIONS ISSUED B Y THE MUNICIPALITY P URSUANT TO THIS APPE NDIX. 7 
HOWEVER, THE BONDS AND OTHER OBLIGATION S SHALL BE SECURED B Y AN 8 
AGREEMENT BETWEEN TH E ISSUER AND THE FED ERAL GOVERNMENT IN W HICH THE 9 
ISSUER AGREES TO BOR ROW FROM THE FEDERAL GOVERNMENT AND THE F EDERAL 10 
GOVERNMENT AGREES TO LEND TO THE ISSUER , PRIOR TO THE MATURIT Y OF THE 11 
BONDS OR OTHER OBLIGATIO NS, MONEYS IN AN AMOUNT WHICH (TOGETHER WITH 12 
ANY OTHER MONEYS COM MITTED IRREVOCABLY T O THE PAYMENT OF PRI NCIPAL 13 
AND INTEREST ON THE BONDS OR OTHER OBLIG ATIONS) WILL SUFFICE TO PAY THE 14 
PRINCIPAL OF THE BON DS OR OTHER OBLIGATI ONS WITH INT EREST TO MATURITY 15 
ON THEM. THE MONEYS UNDER THE TERMS OF THE AGREEME NT SHALL BE 16 
REQUIRED TO BE USED FOR THE PURPOSE OF P AYING THE PRINCIPAL OF AND THE 17 
INTEREST ON THE BOND S OR OTHER OBLIGATIO NS AT THEIR MATURITY . THE BONDS 18 
AND OTHER OBLIGATION S SHALL BE AU THORIZED SECURITY FO R ALL PUBLIC 19 
DEPOSITS. THIS SECTION AUTHORIZ ES ANY PERSONS OR PU BLIC OR PRIVATE 20 
POLITICAL SUBDIVISIO NS AND OFFICERS TO U SE ANY FUNDS OWNED O R 21 
CONTROLLED BY THEM F OR THE PURCHASE OF A NY BONDS OR OTHER 22 
OBLIGATIONS. WITH REGARD TO LEGAL INVESTMENTS, THIS SECTION MAY NOT BE 23 
CONSTRUED TO RELIEVE ANY PERSON OF ANY DU TY OF EXERCISING REA SONABLE 24 
CARE IN SELECTING SE CURITIES. 25 
 
A1–113. SHORT TITLE. 26 
 
 THIS APPENDIX SHALL B E KNOWN AND MAY BE C ITED AS THE MOUNT AIRY 27 
URBAN RENEWAL AUTHORITY FOR SLUM CLEARANCE ACT. 28 
 
A1–114. AUTHORITY TO AMEND OR REPEAL. 29 
 
 THIS APPENDIX, ENACTED PURSUANT TO ARTICLE III, SECTION 61 OF THE 30 
MARYLAND CONSTITUTION, MAY BE AMENDED OR RE PEALED ONLY BY THE 31 
GENERAL ASSEMBLY OF MARYLAND. 32 
 
 SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect 33 
October 1, 2023. 34