Maryland 2023 2023 Regular Session

Maryland House Bill HB561 Engrossed / Bill

Filed 03/17/2023

                     
 
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. 
          *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 
Committee Report: Favorable 
House action: Adopted 
Read second time: March 9, 2023 
 
CHAPTER ______ 
 
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 ASSEMBLY 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 
  2 	HOUSE BILL 561  
 
 
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 AN E XTENT 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 OBLIGATIONS . 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 MOUNT AIRY, 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) “SLUM AREA ” MEANS ANY AREA OR SI NGLE PROPERTY WHERE 19 
DWELLINGS PREDOMINATE WHICH , BY REASON OF DEPRECI	ATION, 20 
OVERCROWDING , FAULTY ARRANGEMENT O R DESIGN, LACK OF VENTILATION , 21 
LIGHT, OR SANITARY FACILITI ES, OR ANY COMBINATION O F THESE FACTORS , ARE 22 
DETRIMENTAL TO THE P UBLIC SAFETY, HEALTH, OR MORALS. 23 
 
 (H) “URBAN RENEWAL AREA” MEANS A SLUM AREA OR A BLIGHTED AREA OR 24 
A COMBINATION OF THE M WHICH THE MUNICIPA LITY DESIGNATES AS A PPROPRIATE 25 
FOR AN URBAN RENEWAL PROJECT. 26 
 
 (I) “URBAN RENEWAL PLAN ” MEANS A PLAN , AS IT EXISTS FROM TI ME TO 27 
TIME, FOR AN URBAN RENEWAL PROJECT. THE PLAN SHALL BE SUFFICI ENTLY 28 
COMPLETE TO INDICATE ANY LAND ACQUISITION , DEMOLITION, AND REMOVAL OF 29 
STRUCTURES , REDEVELOPMENT , IMPROVEMENTS , AND REHABILITATION A S MAY BE 30 
PROPOSED TO BE CARRI ED OUT IN THE URBAN RENEWAL AREA , ZONING AND 31 
PLANNING CHANGES , IF ANY, LAND USES, MAXIMUM DENSITY , AND BUILDING 32 
REQUIREMENTS . 33 
   	HOUSE BILL 561 	3 
 
 
 (J) “URBAN RENEWAL PROJECT ” MEANS UNDERTAKINGS A ND ACTIVITIES 1 
OF A MUNICIPALITY IN AN URBAN RENEWAL ARE A FOR THE ELIMINATIO N AND FOR 2 
THE PREVENTION OF TH E DEVELOPMENT OR SPR EAD OF SLUMS AND BLI GHT, AND 3 
MAY INVOLVE SLUM CLE ARANCE AND REDEVELOP MENT IN AN URBAN REN EWAL 4 
AREA, OR REHABILITATION OR CONSERVATION IN AN U RBAN RENEWAL AREA , OR 5 
ANY COMBINATION OR P ART OF THEM IN ACCOR DANCE WITH AN URBAN RENEWAL 6 
PLAN. THESE UNDERTAKINGS AN D ACTIVITIES MAY INC LUDE: 7 
 
 (1) ACQUISITION OF A SLUM AREA OR A BLIGHTED A REA OR PORTION 8 
OF THEM; 9 
 
 (2) DEMOLITION AND REMOVA L OF BUILDINGS AND I MPROVEMENTS ; 10 
 
 (3) INSTALLATION , CONSTRUCTION OR RECO NSTRUCTION OF 11 
STREETS, UTILITIES, PARKS, PLAYGROUNDS , AND OTHER IMPROVEMEN TS 12 
NECESSARY FOR CARRYIN G OUT THE URBAN RENE WAL OBJECTIVES OF TH IS 13 
APPENDIX IN ACCORDAN CE WITH THE URBAN RE NEWAL PLAN; 14 
 
 (4) DISPOSITION OF ANY PR OPERTY ACQUIRED IN T HE URBAN 15 
RENEWAL AREA , INCLUDING SALE , INITIAL LEASING , OR RETENTION BY THE 16 
MUNICIPALITY ITSE LF, AT ITS FAIR VALUE FO R USES IN ACCORDANCE WITH THE 17 
URBAN RENEWAL PLAN ; 18 
 
 (5) CARRYING OUT PLANS FO R A PROGRAM OF VOLUN TARY OR 19 
COMPULSORY REPAIR AN D REHABILITATION OF BUILDINGS OR OTHER 20 
IMPROVEMENTS IN ACCO RDANCE WITH THE URBA N RENEWAL PLAN ; 21 
 
 (6) ACQUISITION OF ANY OTHER REAL PROPERTY IN THE URBAN 22 
RENEWAL AREA WHERE N ECESSARY TO ELIMINAT E UNHEALTHFUL , UNSANITARY, 23 
OR UNSAFE CONDITIONS , LESSEN DENSITY , ELIMINATE OBSOLETE O R OTHER USES 24 
DETRIMENTAL TO THE P UBLIC WELFARE , OR OTHERWISE TO REMO VE OR PREVENT 25 
THE SPREAD OF BLIGHT OR DETERIORATION , OR TO PROVIDE LAND F OR NEEDED 26 
PUBLIC FACILITIES ; AND 27 
 
 (7) THE PRESERVATION , IMPROVEMENT , OR EMBELLISHMENT OF 28 
HISTORIC STRUCTURES OR MONUMENTS . 29 
 
A1–102. POWERS. 30 
 
 (A) THE MUNICIPALITY MAY UNDERTAKE AND CARRY OUT URBAN RENEWAL 31 
PROJECTS. 32 
 
 (B) THESE PROJECTS SHALL BE LIMITED: 33  4 	HOUSE BILL 561  
 
 
 
 (1) TO SLUM CLEARANCE IN SLUM OR BLIGHTED ARE AS AND 1 
REDEVELOPMENT OR THE REHABILITATION OF SL UM OR BLIGHTED AREAS ; 2 
 
 (2) TO ACQUIRE IN CONNECT ION WITH THOSE PROJE CTS, WITHIN 3 
THE CORPORATE LIMITS OF THE MUNICIPALITY , LAND AND PROPERTY OF EVERY 4 
KIND AND ANY RIGHT , INTEREST, FRANCHISE, EASEMENT, OR PRIVILEGE , 5 
INCLUDING LAND OR PR OPERTY AND ANY RIGHT OR INTEREST ALREADY DEVOTED 6 
TO PUBLIC USE, BY PURCHASE, LEASE, GIFT, CONDEMNATION , OR ANY OTHER LEGAL 7 
MEANS; AND 8 
 
 (3) TO SELL, LEASE, CONVEY, TRANSFER, OR OTHERWISE DISPOSE OF 9 
ANY OF THE LAND OR P ROPERTY, REGARDLESS OF WHETHE R OR NOT IT HAS BEEN 10 
DEVELOPED , REDEVELOPED , ALTERED, OR IMPROVED AND IRRE SPECTIVE OF THE 11 
MANNER OR MEANS IN O R BY WHICH IT MAY HA VE BEEN ACQUIRED , TO ANY PRIVATE, 12 
PUBLIC, OR QUASI–PUBLIC CORPORATION , PARTNERSHIP , ASSOCIATION, PERSON, 13 
OR OTHER LEGAL ENTIT Y. 14 
 
 (C) LAND OR PROPERTY TAKE N BY THE MUNICIPALIT Y FOR ANY OF THESE 15 
PURPOSES OR IN CONNE CTION WITH THE EXERC ISE OF ANY OF THE PO WERS WHICH 16 
ARE GRANTED BY THIS APPENDIX TO THE MUNI CIPALITY BY EXERCISI NG THE 17 
POWER OF EMINENT DOM AIN MAY NOT BE TAKEN WITHOUT JUST COMPENS ATION, 18 
AS AGREED ON BETWEEN THE PARTIES, OR AWARDED BY A JURY , BEING FIRST PAID 19 
OR TENDERED TO THE P ARTY ENTITLED TO TH E COMPENSATION . 20 
 
 (D) ALL LAND OR PROPERTY NEEDED OR TAKEN BY T HE EXERCISE OF THE 21 
POWER OF EMINENT DOM AIN BY THE MUNICIPAL ITY FOR ANY OF THESE PURPOSES 22 
OR IN CONNECTION WIT H THE EXERCISE OF AN Y OF THE POWERS GRAN TED BY THIS 23 
APPENDIX IS DECLARED TO BE NEEDE D OR TAKEN FOR PUBLI C USES AND 24 
PURPOSES. 25 
 
 (E) ANY OR ALL OF THE ACT IVITIES AUTHORIZED P URSUANT TO THIS 26 
APPENDIX CONSTITUTE GOVERNMENTAL FUNCTIO NS UNDERTAKEN FOR PU BLIC 27 
USES AND PURPOSES AN D THE POWER OF TAXAT ION MAY BE EXERCISED , PUBLIC 28 
FUNDS EXPENDED , AND PUBLIC CREDIT EXTE NDED IN FURTHERANCE OF THEM. 29 
 
A1–103. ADDITIONAL POWERS . 30 
 
 THE MUNICIPALITY HAS THE FOLLOWING ADDITI ONAL POWERS . THESE 31 
POWERS ARE DECLARED TO BE NECESSARY AND PROPER TO CARRY INTO FULL 32 
FORCE AND EFFECT THE SPECIFIC POWERS GRAN TED IN THIS APPENDIX AND TO 33 
FULLY ACCOMPLISH THE PURPOSES AND OBJECTS CONTEMPLATED BY THE 34 
PROVISIONS OF THIS S ECTION: 35   	HOUSE BILL 561 	5 
 
 
 
 (1) TO MAKE OR HAVE MADE ALL SURVEYS AND PLAN S NECESSARY TO 1 
THE CARRYING OUT OF THE PURPOSES OF THIS APPENDIX AND TO ADOP T OR 2 
APPROVE, MODIFY, AND AMEND THOSE PLAN S. THESE PLANS MAY INCLU DE, BUT 3 
ARE NOT LIMITED TO :  4 
 
 (I) PLANS FOR CARRYING OU T A PROGRAM OF VOLUNTARY OR 5 
COMPULSORY REPAIR AN D REHABILITATION OF BUILDINGS AND IMPROV EMENTS; 6 
 
 (II) PLANS FOR THE ENFORCE	MENT OF CODES AND 7 
REGULATIONS RELATING TO THE USE OF LAND A ND THE USE AND OCCUP ANCY OF 8 
BUILDINGS AND IMPROV EMENTS AND TO THE CO	MPULSORY REPAIR , 9 
REHABILITATION , DEMOLITION, OR REMOVAL OF BUILDI NGS AND IMPROVEMENTS ; 10 
AND 11 
 
 (III) APPRAISALS, TITLE SEARCHES , SURVEYS, STUDIES, AND 12 
OTHER PLANS AND WORK NECESSARY TO PREPARE FOR THE UNDERTAKING OF 13 
URBAN RENEWAL PROJEC TS AND RELATED ACTIV ITIES; AND TO APPL Y FOR, 14 
ACCEPT, AND UTILIZE GRANTS O F FUNDS FROM THE FED ERAL GOVERNMENT OR 15 
OTHER GOVERNMENTAL E NTITY FOR THOSE PURP OSES; 16 
 
 (2) TO PREPARE PLANS FOR THE RELOCATION OF PE RSONS 17 
(INCLUDING FAMILIES , BUSINESS CONCERNS , AND OTHERS ) DISPLACED FROM AN 18 
URBAN RENEWA L AREA, AND TO MAKE RELOCATI ON PAYMENTS TO OR WI TH 19 
RESPECT TO THOSE PER SONS FOR MOVING EXPE NSES AND LOSSES OF P ROPERTY 20 
FOR WHICH REIMBURSEM ENT OR COMPENSATION IS NOT OTHERWISE MAD E, 21 
INCLUDING THE MAKING OF PAYMENTS FINANCED BY THE FEDERAL GOVER NMENT; 22 
 
 (3) TO APPROPRIATE WHATEV ER FUNDS AND MAKE WH ATEVER 23 
EXPENDITURES AS MAY BE NECESSARY TO CARR Y OUT THE PURPOSES O F THIS 24 
APPENDIX, INCLUDING, BUT NOT LIMITED : 25 
 
 (I) TO THE PAYMENT OF ANY AND ALL COSTS AND EX PENSES 26 
INCURRED IN CONNECTI ON WITH, OR INCIDENTAL T O, THE ACQUISITION OF L AND 27 
OR PROPERTY , AND FOR THE DEMOLITI ON, REMOVAL, RELOCATION , RENOVATION , 28 
OR ALTERATION OF LAN D, BUILDINGS, STREETS, HIGHWAYS, ALLEYS, UTILITIES, OR 29 
SERVICES, AND OTHER STRUCTURES OR IMPROVEMENTS , AND FOR THE 30 
CONSTRUCTION , RECONSTRUC TION, INSTALLATION, RELOCATION, OR REPAIR OF 31 
STREETS, HIGHWAYS, ALLEYS, UTILITIES, OR SERVICES, IN CONNECTION WITH 32 
URBAN RENEWAL PROJEC TS; 33 
 
 (II) TO LEVY TAXES AND ASS ESSMENTS FOR THOSE P URPOSES; 34 
  6 	HOUSE BILL 561  
 
 
 (III) TO BORROW MONEY AND T O APPLY FOR AND ACCE PT 1 
ADVANCES, LOANS, GRANTS, CONTRIBUTIONS , AND ANY OTHER FORM O F FINANCIAL 2 
ASSISTANCE FROM THE FEDERAL GOVERNMENT , THE STATE, COUNTY, OR OTHER 3 
PUBLIC BODIES, OR FROM ANY SOURCES , PUBLIC OR PRIVATE , FOR THE PURPOSES 4 
OF THIS APPENDIX , AND TO GIVE WHATEVER SECURITY AS MAY BE REQUIRED F OR 5 
THIS FINANCIAL ASSIS TANCE; AND 6 
 
 (IV) TO INVEST ANY URBAN R ENEWAL FUNDS HELD IN RESERVES 7 
OR SINKING FUNDS OR ANY OF THESE FUNDS N OT REQUIRED FOR IMME DIATE 8 
DISBURSEMENT IN PROP ERTY OR SECURITIES W HICH ARE LEGAL INVES TMENTS FOR 9 
OTHER MUNICIPAL FUNDS ; 10 
 
 (4) (I) TO HOLD , IMPROVE, CLEAR, OR PREPARE FOR 11 
REDEVELOPMENT ANY PR OPERTY ACQUIRED IN C ONNECTION WITH URBAN 12 
RENEWAL PROJECTS ; 13 
 
 (II) TO MORTGAGE , PLEDGE, HYPOTHECATE , OR OTHERWISE 14 
ENCUMBER THAT PROPER TY; AND 15 
 
 (III) TO INSURE OR PROVIDE FOR THE INSU RANCE OF THE 16 
PROPERTY OR OPERATIO NS OF THE MUNICIPALI TY AGAINST ANY RISKS OR 17 
HAZARDS, INCLUDING THE POWER TO PAY PREMIUMS ON A NY INSURANCE ; 18 
 
 (5) TO MAKE AND EXECUTE A	LL CONTRACTS AND OTH ER 19 
INSTRUMENTS NECESSAR Y OR CONVENIENT TO T HE EXERCISE OF ITS POWERS 20 
UNDER THIS APPENDIX , INCLUDING THE POWER TO ENTER INTO AGREEM ENTS WITH 21 
OTHER PUBLIC BODIES OR AGENCIES (THESE AGREEMENTS MAY EXTEND OVER ANY 22 
PERIOD, NOTWITHSTANDING ANY PROVISION OR RULE OF LAW TO THE CONTRARY ), 23 
AND TO INCLUDE IN AN Y CONTRACT FOR FINANCIA L ASSISTANCE WITH TH E 24 
FEDERAL GOVERNMENT F OR OR WITH RESPECT T O AN URBAN RENEWAL P ROJECT 25 
AND RELATED ACTIVITI ES ANY CONDITIONS IM POSED PURSUANT TO FE DERAL LAWS 26 
AS THE MUNICIPALITY CONSIDERS REASONABLE AND APPROPRIATE ; 27 
 
 (6) TO ENTER IN TO ANY BUILDING OR P ROPERTY IN ANY URBAN 28 
RENEWAL AREA IN ORDE R TO MAKE INSPECTION S, SURVEYS, APPRAISALS, 29 
SOUNDINGS, OR TEST BORINGS , AND TO OBTAIN AN ORD ER FOR THIS PURPOSE FROM 30 
THE CIRCUIT COURT FO R THE COUNTY IN WHIC H THE MUNICIPALITY I S SITUATED IN 31 
THE EVENT ENTRY IS DENIE D OR RESISTED; 32 
 
 (7) TO PLAN, REPLAN, INSTALL, CONSTRUCT, RECONSTRUCT , 33 
REPAIR, CLOSE, OR VACATE STREETS , ROADS, SIDEWALKS, PUBLIC UTILITIES , 34 
PARKS, PLAYGROUNDS , AND OTHER PUBLIC IMP ROVEMENTS IN CONNECT ION WITH 35 
AN URBAN RENEWAL PRO JECT; AND TO MAKE EXCEPTIO NS FROM BUILDING 36   	HOUSE BILL 561 	7 
 
 
REGULATIONS ; 1 
 
 (8) TO GENERALLY ORGANIZE , COORDINATE , AND DIRECT THE 2 
ADMINISTRATION OF TH E PROVISIONS OF THIS APPENDIX AS THEY APP LY TO THE 3 
MUNICIPALITY IN ORDE R THAT THE OBJECTIVE OF REMEDYING SLUM AN D 4 
BLIGHTED AREAS AND PREVENTING ITS C AUSES WITHIN THE MUN ICIPALITY MAY BE 5 
PROMOTED AND ACHIEVE D MOST EFFECTIVELY ; AND 6 
 
 (9) TO EXERCISE ALL OR AN Y PART OR COMBINATIO N OF THE 7 
POWERS GRANTED IN TH IS APPENDIX. 8 
 
A1–104. ESTABLISHMENT OF URBA N RENEWAL AGENCY . 9 
 
 (A) A MUNICIPALITY MAY ITSELF EXER CISE ALL THE POWERS GRANTED BY 10 
THIS APPENDIX , OR MAY, IF ITS LEGISLATIVE B ODY BY ORDINANCE DET ERMINES 11 
THE ACTION TO BE IN THE PUBLIC INTEREST , ELECT TO HAVE THE PO WERS 12 
EXERCISED BY A SEPAR ATE PUBLIC BODY OR A GENCY. 13 
 
 (B) IN THE EVENT TH E LEGISLATIVE BODY M AKES THAT DETERMINAT ION, 14 
IT SHALL PROCEED BY ORDINANCE TO ESTABLI SH A PUBLIC BODY OR AGENCY TO 15 
UNDERTAKE IN THE MUN ICIPALITY THE ACTIVI TIES AUTHORIZED BY T HIS 16 
APPENDIX. 17 
 
 (C) THE ORDINANCE SHALL I NCLUDE PROVISIONS ES TABLISHING THE 18 
NUMBER OF MEMBERS OF THE PUBLIC BODY OR AGENC Y, THE MANNER OF THEIR 19 
APPOINTMENT AND REMO VAL, AND THE TERMS OF THE MEMBERS AND THEIR 20 
COMPENSATION . 21 
 
 (D) THE ORDINANCE MAY INC LUDE WHATEVER ADDITI ONAL PROVISIONS 22 
RELATING TO THE ORGA NIZATION OF THE PUBL IC BODY OR AGENCY AS MAY BE 23 
NECESSARY. 24 
 
 (E) IN THE EVENT THE LEGI SLATIVE BODY ENACTS THIS ORDINANCE , ALL 25 
OF THE POWERS BY THI S APPENDIX GRANTED T O THE MUNICIPALITY , FROM THE 26 
EFFECTIVE DATE OF TH E ORDINANCE, ARE VESTED IN THE PU BLIC BODY OR AGENCY 27 
ESTABLISHED BY THE ORDINANCE. 28 
 
A1–105. POWERS WITHHELD FROM THE AGENCY. 29 
 
 THE AGENCY MAY NOT : 30 
 
 (1) PASS A RESOLUTION TO INITIATE AN URBAN RE NEWAL PROJECT 31 
PURSUANT TO SECTIONS A1–102 AND A1–103 OF THIS APPENDIX ; 32  8 	HOUSE BILL 561  
 
 
 
 (2) ISSUE GENERAL OBLIGAT ION BONDS PURSUANT T O SECTION  1 
A1–111 OF THIS APPENDIX ; OR 2 
 
 (3) APPROPRIATE FUNDS OR LEVY TAXES AND ASSES SMENTS 3 
PURSUANT TO SECTION A1–103(3) OF THIS APPENDIX . 4 
 
A1–106. INITIATION OF PROJECT . 5 
 
 IN ORDER TO INITIATE AN URBAN RENEWAL PRO JECT, THE LEGISLATIVE 6 
BODY OF THE MUNICIPA LITY SHALL ADOPT A RESOLUTION W HICH: 7 
 
 (1) FINDS THAT ONE OR MOR E SLUM OR BLIGHTED A REAS EXIST IN 8 
THE MUNICIPALITY ; 9 
 
 (2) LOCATES AND DEFINES T HE SLUM OR BLIGHTED AREA; AND 10 
 
 (3) FINDS THAT THE REHABI LITATION, REDEVELOPMENT , OR A 11 
COMBINATION OF THEM , OF THE AREA OR AREAS, IS NECESSARY AND IN THE 12 
INTEREST OF THE PUBL IC HEALTH, SAFETY, MORALS, OR WELFARE OF THE 13 
RESIDENTS OF THE MUN ICIPALITY. 14 
 
A1–107. PREPARATION AND APPRO VAL OF PLAN FOR URBA N RENEWAL PROJECT . 15 
 
 (A) IN ORDER TO CARRY OUT THE PURPOSES OF THIS APPENDIX, THE 16 
MUNICIPALITY SHALL H AVE PREPARED AN URBA N RENEWAL PLAN FOR S LUM OR 17 
BLIGHTED AREAS IN TH E MUNICIPALITY , AND SHALL APPROVE TH E PLAN 18 
FORMALLY. THE MUNICIPALITY SHAL L HOLD A PUBLIC HEAR ING ON AN URBAN 19 
RENEWAL PROJECT AFTE R PUBLIC NOTICE OF I T BY PUBLICAT ION IN A NEWSPAPER 20 
HAVING A GENERAL CIR CULATION WITHIN THE CORPORATE LIMITS OF THE 21 
MUNICIPALITY. THE NOTICE SHALL DESC RIBE THE TIME , DATE, PLACE, AND 22 
PURPOSE OF THE HEARI NG, SHALL GENERALLY IDEN TIFY THE URBAN RENEW AL 23 
AREA COVERED BY THE PLAN, AND SHALL OUT LINE THE GENERAL SCO PE OF THE 24 
URBAN RENEWAL PROJEC T UNDER CONSIDERATIO N. FOLLOWING THE HEARING , 25 
THE MUNICIPALITY MAY APPROVE AN URBAN REN EWAL PROJECT AND THE PLAN 26 
THEREFOR IF IT FINDS THAT: 27 
 
 (1) A FEASIBLE METHOD EXIS TS FOR THE LOCATION OF ANY 28 
FAMILIES OR NATURAL PERSONS WH O WILL BE DISPLACED FROM THE URBAN 29 
RENEWAL AREA IN DECE NT, SAFE, AND SANITARY DWELLIN G ACCOMMODATIONS 30 
WITHIN THEIR MEANS A ND WITHOUT UNDUE HAR DSHIP TO THE FAMILIE S OR 31 
NATURAL PERSONS ; 32 
   	HOUSE BILL 561 	9 
 
 
 (2) THE URBAN RENEWAL PLA N CONFORMS SUBSTANTI ALLY TO THE 1 
MASTER PLAN OF THE M UNICIPALITY AS A WHO LE; AND 2 
 
 (3) THE URBAN RENEWAL PLA	N WILL AFFORD MAXIMU	M 3 
OPPORTUNITY , CONSISTENT WITH THE SOUND NEEDS OF THE M UNICIPALITY AS A 4 
WHOLE, FOR THE REHABILITATI ON OR REDEVELOPMENT OF THE URBAN RENEWAL 5 
AREA BY PRIVATE ENTERPRISE . 6 
 
 (B) AN URBAN RENEWAL PLAN MAY BE MODIFIED AT A NY TIME. IF 7 
MODIFIED AFTER THE L EASE OR SALE OF REAL PROPERTY IN THE URBA N RENEWAL 8 
PROJECT AREA , THE MODIFICATION MAY BE CONDITIONED ON WH ATEVER 9 
APPROVAL OF THE OWNE R, LESSEE, OR SUCCESSOR IN INTEREST AS THE 10 
MUNICIPALITY CONSIDE RS ADVISABLE. IN ANY EVENT, IT SHALL BE SUBJECT TO 11 
WHATEVER RIGHTS AT L AW OR IN EQUITY AS A LESSEE OR PURCHASER , OR THE 12 
SUCCESSOR OR SUCCESS ORS IN INTEREST , MAY BE ENTITLED TO A SSERT. WHERE 13 
THE PROPOSED MODIFIC ATION WILL CHANGE SUBSTANTIALLY THE URBAN 14 
RENEWAL PLAN AS APPR OVED PREVIOUSLY BY T HE MUNICIPALITY , THE 15 
MODIFICATION SHALL B E APPROVED FORMALLY BY THE MUNICIPALITY , AS IN THE 16 
CASE OF AN ORIGINAL PLAN. 17 
 
 (C) ON THE APPROVAL BY TH E MUNICIPALITY OF AN URBAN RENEWAL PLAN 18 
OR OF ANY MODIFICATI ON OF IT, THE PLAN OR MODIFICA TION SHALL BE 19 
CONSIDERED TO BE IN FULL FORCE AND EFFEC T FOR THE RESPECTIVE URBAN 20 
RENEWAL AREA . THE MUNICIPALITY MAY HAVE THE PLAN OR MOD IFICATION 21 
CARRIED OUT IN ACCOR DANCE WITH ITS TERMS . 22 
 
A1–108. DISPOSAL OF PROPERTY IN URBAN RENEWAL AREA . 23 
 
 (A) THE MUNICIPALITY , BY ORDINANCE , MAY SELL, LEASE, OR OTHERWISE 24 
TRANSFER REAL PROPER TY OR ANY INTEREST I N IT ACQUIRED BY IT FOR AN URBAN 25 
RENEWAL PROJECT TO A NY PERSON FOR RESIDE NTIAL, RECREATIONAL , 26 
COMMERCIAL , INDUSTRIAL, EDUCATIONAL , OR OTHER USES OR FOR PUBLIC USE, OR 27 
IT MAY RETAIN THE PR OPERTY OR INTEREST F OR PUBLIC USE , IN ACCORDANCE 28 
WITH THE URBAN RENEW AL PLAN AND SUBJECT TO WHATEVER COVENANT S, 29 
CONDITIONS, AND RESTRICTIONS , INCLUDING COVENANTS RUNNING WITH THE 30 
LAND, AS IT CONSIDERS NECE SSARY OR DESIRABLE T O ASSIST IN PREVENTI NG THE 31 
DEVELOPMENT OR SPREA D OF FUTURE SLUMS OR BLIGHTED AREAS OR TO 32 
OTHERWISE CARRY OUT THE PURPOSES OF THIS APPENDIX. THE PURCHASERS OR 33 
LESSEES AND THEIR SU CCESSORS AND ASSIGNS SHALL BE OBLI GATED TO DEVOTE 34 
THE REAL PROPERTY ON LY TO THE USES SPECI FIED IN THE URBAN RE NEWAL PLAN, 35 
AND MAY BE OBLIGATED TO COMPLY WITH WHATE VER OTHER REQUIREMEN TS THE 36 
MUNICIPALITY DETERMI NES TO BE IN THE PUB LIC INTEREST, INCLUDING THE 37 
OBLIGATION TO BEGIN WITHIN A REA SONABLE TIME ANY IMP ROVEMENTS ON THE 38  10 	HOUSE BILL 561  
 
 
REAL PROPERTY REQUIR ED BY THE URBAN RENE WAL PLAN. THE REAL PROPERTY 1 
OR INTEREST MAY NOT BE SOLD, LEASED, OTHERWISE TRANSFERRE D, OR RETAINED 2 
AT LESS THAN ITS FAI R VALUE FOR USES IN ACCORDANCE WITH THE URBAN 3 
RENEWAL PLAN . IN DETERMINING THE FA IR VALUE OF REAL PRO PERTY FOR USES 4 
IN ACCORDANCE WITH T HE URBAN RENEWAL PLA N, THE MUNICIPALITY SHA LL TAKE 5 
INTO ACCOUNT AND GIV E CONSIDERATION TO T HE USES PROVIDED IN THE PLAN, 6 
THE RESTRICTIONS ON , AND THE COVENANTS , CONDITIONS, AND OBLIGATIONS 7 
ASSUMED BY THE PURCH ASER OR LESSEE OR BY THE MUNICIPALITY RET AINING THE 8 
PROPERTY, AND THE OBJECTIVES O F THE PLAN FOR THE P REVENTION OF THE 9 
RECURRENCE OF SLUM O R BLIGHTED AREAS . IN ANY INSTRUMENT OR CONVEYANCE 10 
TO A PRIVATE PURCHAS ER OR LESSEE, THE MUNICIPALITY MAY PRO VIDE THAT THE 11 
PURCHASER OR LESSEE MAY NOT SELL, LEASE, OR OTHERWISE TRANSFE R THE REAL 12 
PROPERTY WITHOUT THE PRIOR WRITTEN CONSEN T OF THE MUNICIPALIT Y UNTIL 13 
THE PURCHASER OR LES SEE HAS COMPLETED TH E CONSTRUCTION OF AN Y OR ALL 14 
IMPROVEMENT S WHICH THE PURCHASE R OR LESSEE HAS BEEN OBLIGATED TO 15 
CONSTRUCT ON THE PRO PERTY. REAL PROPERTY ACQUIRE D BY THE MUNICIPALIT Y 16 
WHICH, IN ACCORDANCE WITH T HE PROVISIONS OF THE URBAN RENEWAL PLAN , IS 17 
TO BE TRANSFERRED , SHALL BE TRANSFERRED AS RAPIDLY AS FEASIB LE IN THE 18 
PUBLIC INTEREST CONS ISTENT WITH THE CARR YING OUT OF THE PROV ISIONS OF 19 
THE URBAN RENEWAL PL AN. ANY CONTRACT FOR THE TRANSFER AND THE URB AN 20 
RENEWAL PLAN (OR ANY PART OR PARTS OF THE CONTRACT OR P LAN AS THE 21 
MUNICIPALITY DETERMI NES) MAY BE RECORDED IN THE LAND RECORDS OF THE 22 
COUNTY IN WHICH THE MUNICIPALITY IS SITU ATED IN A MANNER SO AS TO AFFORD 23 
ACTUAL OR CONSTRUCTI VE NOTICE OF IT. 24 
 
 (B) THE MUNICIPALITY , BY ORDINANCE , MAY DISPOSE OF REAL PROPERTY 25 
IN AN URBAN RENEWAL AREA TO PRIVATE PERS ONS. THE MUNICIPALITY MAY, BY 26 
PUBLIC NOTICE BY PUB LICATION IN A NEWSPA PER HAVING A GENERAL 27 
CIRCULATION IN THE C OMMUNITY, INVITE PROPOSALS FRO M AND MAKE AVAILABLE 28 
ALL PERTINENT INFORM ATION TO PRIVATE RED EVELOPERS OR ANY PER SONS 29 
INTERESTED IN UNDERT AKING TO REDEVELOP O R REHABILITATE AN URBAN 30 
RENEWAL AREA , OR ANY PART THEREOF . THE NOTICE SHALL IDEN TIFY THE AREA, 31 
OR PORTION THEREOF , AND SHALL STATE THAT PROPOSALS SHALL BE M ADE BY 32 
THOSE INTERESTED WIT HIN A SPECIFIED PERI OD. THE MUNICIPALITY SHAL L 33 
CONSIDER ALL REDEVEL OPMENT OR REHABILITATION PROPO SALS AND THE 34 
FINANCIAL AND LEGAL ABILITY OF THE PERSO NS MAKING PROPOSALS TO CARRY 35 
THEM OUT, AND MAY NEGOTIATE WI TH ANY PERSONS FOR P ROPOSALS FOR THE 36 
PURCHASE, LEASE, OR OTHER TRANSFER OF ANY REAL PROPERTY AC QUIRED BY 37 
THE MUNICIPALITY I N THE URBAN RENEWAL AREA. THE MUNICIPALITY MAY ACCEPT 38 
ANY PROPOSAL AS IT D EEMS TO BE IN THE PU BLIC INTEREST AND IN FURTHERANCE 39 
OF THE PURPOSES OF T HIS APPENDIX. THEREAFTER , THE MUNICIPALITY MAY 40 
EXECUTE AND DELIVER CONTRACTS, DEEDS, LEASES, AND OTHER INSTRU MENTS 41 
AND TAKE ALL STEPS N ECESSARY TO EFFECTUA TE THE TRANSFERS . 42   	HOUSE BILL 561 	11 
 
 
 
 (C) THE MUNICIPALITY MAY OPERATE TEMPORARILY AND MAINTAIN REAL 1 
PROPERTY ACQUIRED BY IT IN AN URBAN RENEW AL AREA FOR OR IN CO NNECTION 2 
WITH AN URBAN RENEWA L PROJECT PENDING TH E DISPOSITION OF THE PROPERTY 3 
AS AUTHORIZED IN THI S APPENDIX, WITHOUT REGARD TO TH E PROVISIONS OF 4 
SUBSECTION (A) OF THIS SECTION , FOR USES AND PURPOSE S CONSIDERED 5 
DESIRABLE EVEN THOUG H NOT IN CONFORMITY WITH THE URBAN RENEW AL PLAN. 6 
 
 (D) ANY INSTRUMENT EXECUT ED BY THE MUNICIPALI TY AND PURPORTING 7 
TO CONVEY ANY RIGHT , TITLE, OR INTEREST IN ANY PROPERTY UNDER THIS 8 
APPENDIX SHALL BE PR ESUMED CONCLUSIVELY TO HAVE BEEN EXECUTE D IN 9 
COMPLIANCE WITH THE PROVISIONS OF THIS A PPENDIX INSOFAR AS T ITLE OR 10 
OTHER INTEREST OF AN Y BONA FIDE PURCHASE RS, LESSEES, OR TRANSFEREES OF 11 
THE PROPERTY IS CONC ERNED. 12 
 
A1–109. EMINENT DOMAIN . 13 
 
 CONDEMNATION OF LAND OR PROPERTY UNDER TH E PROVISIONS OF THIS 14 
APPENDIX SHALL BE IN ACCORDANCE WITH THE PROCEDURE PROVIDED I N THE 15 
REAL PROPERTY ARTICLE OF THE ANNOTATED CODE OF MARYLAND. 16 
 
A1–110. ENCOURAGEMENT OF PRIV ATE ENTERPRISE . 17 
 
 THE MUNICIPALITY , TO THE EXTENT IT DET ERMINES TO BE FEASIB LE IN 18 
CARRYING OUT THE PRO VISIONS OF THIS APPE NDIX, SHALL AFFORD MAXIMUM 19 
OPPORTUNITY TO THE R EHABILITATION OR RED EVELOPMENT OF ANY UR BAN 20 
RENEWAL AREA BY PRIV ATE ENTERPRISE CONSI STENT WITH THE SOUND NEEDS OF 21 
THE MUNICIPALITY AS A WHOLE. THE MUNICIPALITY SHAL L GIVE CONSIDERATION 22 
TO THIS OBJECTIVE IN EXERCISING ITS POWER S UNDER THIS APPENDI X. 23 
 
A1–111. GENERAL OBLIGATION BO NDS. 24 
 
 FOR THE PURPOSE OF FI NANCING AND CARRYING OUT AN URBAN RENEWAL 25 
PROJECT AND RELATED ACTIVITIES , THE MUNICIPALITY MAY ISSUE AND SELL ITS 26 
GENERAL OBLIGATION B ONDS. ANY BONDS ISSUED BY T HE MUNICIPALITY 27 
PURSUANT TO THIS SEC TION SHALL BE ISSUED IN THE MANNER AND WI THIN THE 28 
LIMITATIONS PRESCRIB ED BY APPLICABLE LAW FOR THE ISSUANCE AND 29 
AUTHORIZATION OF GEN ERAL OBLIGATION BOND S BY THE MUNICIPALIT Y, AND 30 
ALSO WITHIN LIMITATI ONS DETERMINED BY TH E MUNICIPALITY. 31 
 
A1–112. REVENUE BONDS . 32 
 
 (A) IN ADDITION TO THE AU THORITY CONFERRED BY SECTION A1–111 OF 33  12 	HOUSE BILL 561  
 
 
THIS APPENDIX, THE MUNICIPALITY MAY ISSUE REVENUE BONDS TO FINA NCE THE 1 
UNDERTAKING OF ANY U RBAN RENEWAL PROJECT AND RELATED ACTIVITI ES. ALSO, 2 
IT MAY ISSUE REFUNDI NG BONDS FOR THE PAY MENT OR RETIREMENT O F THE 3 
BONDS ISSUED PREVIOU SLY BY IT. THE BONDS SHALL BE MA DE PAYABLE, AS TO 4 
BOTH PRINCIPAL AND I NTEREST, SOLELY FROM THE INCO ME, PROCEEDS, 5 
REVENUES, AND FUNDS OF THE MUN ICIPALITY DERIVED FR OM OR HELD IN 6 
CONNECTION WITH THE UNDERTAKING AND CARR YING OUT OF URBAN RE NEWAL 7 
PROJECTS UNDER THIS APPENDIX. HOWEVER, PAYMENT OF THE BONDS , BOTH AS 8 
TO PRINCIPAL AN D INTEREST, MAY BE FURTHER SECUR ED BY A PLEDGE OF AN Y 9 
LOAN, GRANT, OR CONTRIBUTION FROM THE FEDERAL GOVERNME NT OR OTHER 10 
SOURCE, IN AID OF ANY URBAN RENEWAL PROJECTS OF THE MUNICIPALITY UND ER 11 
THIS APPENDIX, AND BY A MORTGAGE OF ANY URBAN RENEWAL PR OJECT, OR ANY 12 
PART OF A PROJECT , TITLE TO WHICH IS IN THE MUNICIPALITY . IN ADDITION, THE 13 
MUNICIPALITY MAY ENT ER INTO AN INDENTURE OF TRUST WITH ANY PR IVATE 14 
BANKING INSTITUTION OF THIS STATE HAVING TRUST PO WERS AND MAY MAKE IN 15 
THE INDENTURE OF TRU ST COVENANTS AND CO MMITMENTS REQUIRED B Y ANY 16 
PURCHASER FOR THE AD EQUATE SECURITY OF T HE BONDS. 17 
 
 (B) BONDS ISSUED UNDER TH IS SECTION DO NOT CO NSTITUTE AN 18 
INDEBTEDNESS WITHIN THE MEANING OF ANY C ONSTITUTIONAL OR STA TUTORY 19 
DEBT LIMITATION OR R ESTRICTION, ARE NOT SUBJECT TO T HE PROVISIONS OF ANY 20 
OTHER LAW OR CHARTER RELATING TO THE AUTH ORIZATION, ISSUANCE, OR SALE 21 
OF BONDS , AND ARE EXEMPTED SPE CIFICALLY FROM THE R ESTRICTIONS 22 
CONTAINED IN §§ 19–205 AND 19–206 OF THE LOCAL GOVERNMENT ARTICLE OF 23 
THE ANNOTATED CODE OF MARYLAND. BONDS ISSUED UNDER THE P ROVISIONS OF 24 
THIS APPENDIX ARE DE CLARED TO BE ISSUED FOR AN ESSENTIAL PUB LIC AND 25 
GOVERNMENTAL PURPOSE AND, TOGETHER WITH INTERE ST ON THEM AND INCOM E 26 
FROM THEM, ARE EXEMPT FROM ALL TAXES. 27 
 
 (C) BONDS ISSUED UNDER TH IS SECTION SHALL BE AUTHORIZED BY 28 
RESOLUTION OR ORDINA NCE OF THE LEGISLATI VE BODY OF THE MUNIC IPALITY. 29 
THEY MAY BE ISSUED IN ONE OR MORE SERIES A ND SHALL: 30 
 
 (1) BEAR A DATE OR DATES ; 31 
 
 (2) MATURE AT A TIME OR T IMES; 32 
 
 (3) BEAR INTEREST AT A RA TE OR RATES; 33 
 
 (4) BE IN A DENOMINATION OR DENOMI NATIONS; 34 
 
 (5) BE IN A FORM EITHER W ITH OR WITHOUT COUPO N OR 35 
REGISTERED; 36   	HOUSE BILL 561 	13 
 
 
 
 (6) CARRY A CONVERSION OR REGISTRATION PRIVILE GE; 1 
 
 (7) HAVE A RANK OR PRIORI TY; 2 
 
 (8) BE EXECUTED IN A MANN ER; 3 
 
 (9) BE PAYABLE IN A MEDIU M OF PAYMENT , AT A PLACE OR PLACES , 4 
AND BE SUBJECT TO TE RMS OF REDEMPTION (WITH OR WITHOUT PREM IUM); 5 
 
 (10) BE SECURED IN A MANNE R; AND 6 
 
 (11) HAVE OTHER CHARACTERI STICS, AS ARE PROVIDED BY T HE 7 
RESOLUTION, TRUST INDENTURE , OR MORTGAGE ISSUED P URSUANT TO IT. 8 
 
 (D) THESE BONDS MAY NOT BE SOL D AT LESS THAN PAR V ALUE AT PUBLIC 9 
SALES WHICH ARE HELD AFTER NOTICE IS PUBL ISHED PRIOR TO THE S ALE IN A 10 
NEWSPAPER HAVING A G ENERAL CIRCULATION I N THE AREA IN WHICH THE 11 
MUNICIPALITY IS LOCA TED AND IN WHATEVER OTHER MEDIUM OF PUBL ICATION AS 12 
THE MUNICIPALITY MAY DETERMINE. THE BONDS MAY BE EXCH ANGED ALSO FOR 13 
OTHER BONDS ON THE B ASIS OF PAR. HOWEVER, THE BONDS MAY NOT BE SOLD TO 14 
THE FEDERAL GOVERNME NT AT PRIVATE SALE A T LESS THAN PAR , AND, IN THE 15 
EVENT LESS THAN ALL OF THE AUTHORIZED PR INCIPAL AMOUNT OF THE BO NDS IS 16 
SOLD TO THE FEDERAL GOVERNMENT , THE BALANCE MAY NOT BE SOLD AT PRIVATE 17 
SALE AT LESS THAN PA R AT AN INTEREST COS T TO THE MUNICIPALIT Y WHICH DOES 18 
NOT EXCEED THE INTER EST COST TO THE MUNI CIPALITY OF THE PORT ION OF THE 19 
BONDS SOLD TO THE FEDERAL GOVERNME NT. 20 
 
 (E) IN CASE ANY OF THE PU BLIC OFFICIALS OF TH E MUNICIPALITY WHOSE 21 
SIGNATURES APPEAR ON ANY BONDS OR COUPONS ISSUED UNDER THIS AP PENDIX 22 
CEASE TO BE OFFICIAL S OF THE MUNICIPALIT Y BEFORE THE DELIVER Y OF THE 23 
BONDS OR IN THE EVEN T ANY OF THE OFFICIALS HAV E BECOME SUCH AFTER THE 24 
DATE OF ISSUE OF THE M, THE BONDS ARE VALID AND BINDING OBLIGATI ONS OF THE 25 
MUNICIPALITY IN ACCO RDANCE WITH THEIR TE RMS. ANY PROVISION OF ANY LAW 26 
TO THE CONTRARY NOTW ITHSTANDING, ANY BONDS ISSUED PUR SUANT TO THIS 27 
APPENDIX ARE FULLY NE GOTIABLE. 28 
 
 (F) IN ANY SUIT, ACTION, OR PROCEEDING INVOLV ING THE VALIDITY OR 29 
ENFORCEABILITY OF AN Y BOND ISSUED UNDER THIS APPENDIX, OR THE SECURITY 30 
FOR IT, ANY BOND WHICH RECIT ES IN SUBSTANCE THAT IT HAS BEEN ISSUED B Y THE 31 
MUNICIPALITY IN CONNECTION WITH A N URBAN RENEWAL PROJ ECT SHALL BE 32 
CONSIDERED CONCLUSIV ELY TO HAVE BEEN ISS UED FOR THAT PURPOSE , AND THE 33 
PROJECT SHALL BE CON SIDERED CONCLUSIVELY TO HAVE BEEN PLANNED , 34  14 	HOUSE BILL 561  
 
 
LOCATED, AND CARRIED OUT IN A CCORDANCE WITH THE P ROVISIONS OF THIS 1 
APPENDIX. 2 
 
 (G) ALL BANKS, TRUST COMPANIES , BANKERS, SAVINGS BANKS , AND 3 
INSTITUTIONS, BUILDING AND LOAN AS SOCIATIONS, SAVINGS AND LOAN 4 
ASSOCIATIONS, INVESTMENT COMPANIES , AND OTHER PERSONS CA RRYING ON A 5 
BANKING OR INVESTMEN T BUSINESS; ALL INSURANCE COMPAN IES, INSURANCE 6 
ASSOCIATIONS, AND OTHER PERSONS CA RRYING ON AN INSURAN CE BUSINESS; AND 7 
ALL EXECUTORS , ADMINISTRATORS , CURATORS, TRUSTEES, AND OTHER 8 
FIDUCIARIES, MAY LEGALLY INVEST A NY SINKING FUNDS , MONEYS, OR OTHER 9 
FUNDS BELONGING TO T HEM OR WITHIN THEIR CONTROL IN ANY BONDS OR O THER 10 
OBLIGATIONS ISSUED B Y THE MUNICIPALITY P URSUANT TO THIS APPE NDIX. 11 
HOWEVER, THE BONDS AND OTHER OBLIGATIONS SHALL BE SECURED BY AN 12 
AGREEMENT BETWEEN TH E ISSUER AND THE FED ERAL GOVERNMENT IN W HICH THE 13 
ISSUER AGREES TO BOR ROW FROM THE FEDERAL GOVERNMENT A ND THE FEDERAL 14 
GOVERNMENT AGREES TO LEND TO THE ISSUER , PRIOR TO THE MATURIT Y OF THE 15 
BONDS OR OTHER OBLIG ATIONS, MONEYS IN AN AMOUNT WHICH (TOGETHER WITH 16 
ANY OTHER MONEYS COM MITTED IRREVOCABLY T O THE PAYMENT OF PRI NCIPAL 17 
AND INTEREST O N THE BONDS OR OTHER OBLIGATIONS) WILL SUFFICE TO PAY THE 18 
PRINCIPAL OF THE BON DS OR OTHER OBLIGATI ONS WITH INTEREST TO MATURITY 19 
ON THEM. THE MONEYS UNDER THE TERMS OF THE AGREEME NT SHALL BE 20 
REQUIRED TO BE USED FOR THE PURPOSE OF P AYING THE PRINCIPAL OF AND THE 21 
INTEREST ON THE BOND S OR OTHER OBLIGATIO NS AT THEIR MATURITY . THE BONDS 22 
AND OTHER OBLIGATION S SHALL BE AUTHORIZE D SECURITY FOR ALL P UBLIC 23 
DEPOSITS. THIS SECTION AUTHORIZ ES ANY PERSONS OR PU BLIC OR PRIVATE 24 
POLITICAL SUBDIVISIO NS AND OFFICERS TO U SE ANY FUNDS OWNED OR 25 
CONTROLLED BY THEM F OR THE PURCHASE OF A NY BONDS OR OTHER 26 
OBLIGATIONS. WITH REGARD TO LEGAL INVESTMENTS , THIS SECTION MAY NOT BE 27 
CONSTRUED TO RELIEVE ANY PERSON OF ANY DU TY OF EXERCISING REA SONABLE 28 
CARE IN SELECTING SE CURITIES. 29 
 
A1–113. SHORT TITLE. 30 
 
 THIS APPENDIX SHALL B E KNOWN AND MAY BE C ITED AS THE MOUNT AIRY 31 
URBAN RENEWAL AUTHORITY FOR SLUM CLEARANCE ACT. 32 
 
A1–114. AUTHORITY TO AMEND OR REPEAL. 33 
 
 THIS APPENDIX, ENACTED PURSUANT TO ARTICLE III, SECTION 61 OF THE 34 
MARYLAND CONSTITUTION, MAY BE AMENDED OR REPE ALED ONLY BY THE 35 
GENERAL ASSEMBLY OF MARYLAND. 36 
 
 SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect 37 
October 1, 2023. 38   	HOUSE BILL 561 	15 
 
 
 
 
 
 
 
Approved: 
________________________________________________________________________________  
 Governor. 
________________________________________________________________________________  
  Speaker of the House of Delegates. 
________________________________________________________________________________  
         President of the Senate.