Maryland 2023 2023 Regular Session

Maryland Senate Bill SB313 Engrossed / Bill

Filed 02/16/2023

                     
 
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. 
          *sb0313*  
  
SENATE BILL 313 
L3   	3lr1132 
HB 1385/20 – ENT   	CF HB 561 
By: Carroll County Senators 
Introduced and read first time: January 27, 2023 
Assigned to: Budget and Taxation 
Re–referred to: Education, Energy, and the Environment, February 9, 2023 
Committee Report: Favorable 
Senate action: Adopted 
Read second time: February 16, 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 	SENATE BILL 313  
 
 
 
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 PRODUCTI VITY BY REASON OF 5 
OBSOLESCENCE , DEPRECIATION , OR OTHER CAUSES TO A N EXTENT 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 INDEBTE DNESS, 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 PREDOMINAT E 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 PUBLIC 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 SUF FICIENTLY 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 REN EWAL AREA, ZONING AND 31 
PLANNING CHANGES , IF ANY, LAND USES, MAXIMUM DENSITY , AND BUILDING 32 
REQUIREMENTS . 33   	SENATE BILL 313 	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 CARRYI NG OUT THE URBAN REN EWAL OBJECTIVES OF T HIS 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 ITSELF , 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 OT HER 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 PUB LIC 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 
  4 	SENATE BILL 313  
 
 
 (B) THESE PROJECTS SHALL BE LIMITED: 1 
 
 (1) TO SLUM CLEARANCE IN SLUM OR BLIGHTED ARE AS AND 2 
REDEVELOPMENT OR THE REHABILITATION OF SL UM OR BLIGHTED AREAS ; 3 
 
 (2) TO ACQUIRE IN CONNECT ION WITH THOSE PROJE CTS, WITHIN 4 
THE CORPORATE LIMITS OF THE MUNICIPALITY , LAND AND PROPERTY OF EVERY 5 
KIND AND ANY RIGHT , INTEREST, FRANCHISE, EASEMENT, OR PRIVILEGE , 6 
INCLUDING LAND OR PR OPERTY AND ANY RIGHT OR INTEREST ALREADY DEVOTED 7 
TO PUBLIC USE, BY PURCHASE, LEASE, GIFT, CONDEMNATION , OR ANY OTHER LEGAL 8 
MEANS; AND 9 
 
 (3) TO SELL, LEASE, CONVEY, TRANSFER, OR OTHERWISE DISPOSE OF 10 
ANY OF THE LAND OR P ROPERTY, REGARDLESS OF WHETHE R OR NOT IT HAS BEEN 11 
DEVELOPED , REDEVELOPED , ALTERED, OR IMPROVED AND IRRESPEC TIVE OF THE 12 
MANNER OR MEANS IN O R BY WHICH IT MAY HA VE BEEN ACQUIRED , TO ANY PRIVATE, 13 
PUBLIC, OR QUASI–PUBLIC CORPORATION , PARTNERSHIP , ASSOCIATION, PERSON, 14 
OR OTHER LEGAL ENTIT Y. 15 
 
 (C) LAND OR PROPERTY TAKE N BY THE MUNICIPALIT Y FOR ANY OF THESE 16 
PURPOSES OR IN CONNE CTION WITH THE EXERC ISE OF ANY OF THE PO WERS WHICH 17 
ARE GRANTED BY THIS APPENDIX TO THE MUNI CIPALITY BY EXERCISI NG THE 18 
POWER OF EMINENT DOM AIN MAY NOT BE TAKEN WITHOUT JUST COMPENS ATION, 19 
AS AGREED ON BETWEEN THE PARTIES, OR AWARDED BY A JURY, BEING FIRST PAID 20 
OR TENDERED TO THE P ARTY ENTITLED TO THE COMPENSATION . 21 
 
 (D) ALL LAND OR PROPERTY NEEDED OR TAKEN BY T HE EXERCISE OF THE 22 
POWER OF EMINENT DOM AIN BY THE MUNICIPAL ITY FOR ANY OF THESE PURPOSES 23 
OR IN CONNECTION WIT H THE EXERCI SE OF ANY OF THE POW ERS GRANTED BY THIS 24 
APPENDIX IS DECLARED TO BE NEEDED OR TAKE N FOR PUBLIC USES AN D 25 
PURPOSES. 26 
 
 (E) ANY OR ALL OF THE ACT IVITIES AUTHORIZED P URSUANT TO THIS 27 
APPENDIX CONSTITUTE GOVERNMENTAL FUNCTIO NS UNDERTAKEN FOR PU BLIC 28 
USES AND PURPOS ES AND THE POWER OF TAXATION MAY BE EXER CISED, PUBLIC 29 
FUNDS EXPENDED , AND PUBLIC CREDIT EX TENDED IN FURTHERANC E OF THEM. 30 
 
A1–103. ADDITIONAL POWERS . 31 
 
 THE MUNICIPALITY HAS THE FOLLOWING ADDITI ONAL POWERS . THESE 32 
POWERS ARE DECLARED TO BE NECESSARY AND PROPER TO CARRY INTO FULL 33 
FORCE AND EFFECT THE SPECIFIC POWERS GRAN TED IN THIS APPENDIX AND TO 34 
FULLY ACCOMPLISH THE PURPOSES AND OBJECTS CONTEMPLATED BY THE 35   	SENATE BILL 313 	5 
 
 
PROVISIONS OF THIS S ECTION: 1 
 
 (1) TO MAKE OR HAVE MADE ALL SURVEYS AND PLAN S NECESSARY TO 2 
THE CARRYING OUT OF THE PURPOSES OF THIS APPENDIX AND TO ADOP T OR 3 
APPROVE, MODIFY, AND AMEND THOSE PLAN S. THESE PLANS MAY INCLU DE, BUT 4 
ARE NOT LIMITED TO :  5 
 
 (I) PLANS FOR CARRYING OU T A PROGRAM OF VOLUNTARY OR 6 
COMPULSORY REPAIR AN D REHABILITATION OF BUILDINGS AND IMPROV EMENTS; 7 
 
 (II) PLANS FOR THE ENFORCE	MENT OF CODES AND 8 
REGULATIONS RELATING TO THE USE OF LAND A ND THE USE AND OCCUP ANCY OF 9 
BUILDINGS AND IMPROV EMENTS AND TO THE CO	MPULSORY REPAIR , 10 
REHABILITATION , DEMOLITION, OR REMOVAL OF BUILDI NGS AND IMPROVEMENTS ; 11 
AND 12 
 
 (III) APPRAISALS, TITLE SEARCHES , SURVEYS, STUDIES, AND 13 
OTHER PLANS AND WORK NECESSARY TO PREPARE FOR THE UNDERTAKING OF 14 
URBAN RENEWAL PROJEC TS AND RELATED ACTIV ITIES; AND TO APPL Y FOR, 15 
ACCEPT, AND UTILIZE GRANTS O F FUNDS FROM THE FED ERAL GOVERNMENT OR 16 
OTHER GOVERNMENTAL E NTITY FOR THOSE PURP OSES; 17 
 
 (2) TO PREPARE PLANS FOR THE RELOCATION OF PE RSONS 18 
(INCLUDING FAMILIES , BUSINESS CONCERNS , AND OTHERS ) DISPLACED FROM AN 19 
URBAN RENEWA L AREA, AND TO MAKE RELOCATI ON PAYMENTS TO OR WI TH 20 
RESPECT TO THOSE PER SONS FOR MOVING EXPE NSES AND LOSSES OF P ROPERTY 21 
FOR WHICH REIMBURSEM ENT OR COMPENSATION IS NOT OTHERWISE MAD E, 22 
INCLUDING THE MAKING OF PAYMENTS FINANCED BY THE FEDERAL GOVER NMENT; 23 
 
 (3) TO APPROPRIATE WHATEV ER FUNDS AND MAKE WH ATEVER 24 
EXPENDITURES AS MAY BE NECESSARY TO CARR Y OUT THE PURPOSES O F THIS 25 
APPENDIX, INCLUDING, BUT NOT LIMITED : 26 
 
 (I) TO THE PAYMENT OF ANY AND ALL COSTS AND EX PENSES 27 
INCURRED IN CONNECTI ON WITH, OR INCIDENTAL T O, THE ACQUISITION OF L AND 28 
OR PROPERTY , AND FOR THE DEMOLITI ON, REMOVAL, RELOCATION , RENOVATION , 29 
OR ALTERATION OF LAN D, BUILDINGS, STREETS, HIGHWAYS, ALLEYS, UTILITIES, OR 30 
SERVICES, AND OTHER STRUCTURES OR IMPROVEMENTS , AND FOR THE 31 
CONSTRUCTION , RECONSTRUC TION, INSTALLATION, RELOCATION, OR REPAIR OF 32 
STREETS, HIGHWAYS, ALLEYS, UTILITIES, OR SERVICES, IN CONNECTION WITH 33 
URBAN RENEWAL PROJEC TS; 34 
 
 (II) TO LEVY TAXES AND ASS ESSMENTS FOR THOSE P URPOSES; 35  6 	SENATE BILL 313  
 
 
 
 (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   	SENATE BILL 313 	7 
 
 
AN URBAN RENEWAL PRO JECT; AND TO MAKE EXCEPTIO NS FROM BUILDING 1 
REGULATIONS ; 2 
 
 (8) TO GENERALLY ORGANIZE , COORDINATE , AND DIRECT THE 3 
ADMINISTRATION OF TH E PROVISIONS OF THIS APPENDIX AS THEY APP LY TO THE 4 
MUNICIPALITY IN ORDE R THAT THE OBJECTIVE OF REMEDYING SLUM AN D 5 
BLIGHTED AREAS AND PREVENTING ITS C AUSES WITHIN THE MUN ICIPALITY MAY BE 6 
PROMOTED AND ACHIEVE D MOST EFFECTIVELY ; AND 7 
 
 (9) TO EXERCISE ALL OR AN Y PART OR COMBINATIO N OF THE 8 
POWERS GRANTED IN TH IS APPENDIX. 9 
 
A1–104. ESTABLISHMENT OF URBA N RENEWAL AGENCY . 10 
 
 (A) A MUNICIPALITY MAY ITSELF EXER CISE ALL THE POWERS GRANTED BY 11 
THIS APPENDIX , OR MAY, IF ITS LEGISLATIVE B ODY BY ORDINANCE DET ERMINES 12 
THE ACTION TO BE IN THE PUBLIC INTEREST , ELECT TO HAVE THE PO WERS 13 
EXERCISED BY A SEPAR ATE PUBLIC BODY OR A GENCY. 14 
 
 (B) IN THE EVENT TH E LEGISLATIVE BODY M AKES THAT DETERMINAT ION, 15 
IT SHALL PROCEED BY ORDINANCE TO ESTABLI SH A PUBLIC BODY OR AGENCY TO 16 
UNDERTAKE IN THE MUN ICIPALITY THE ACTIVI TIES AUTHORIZED BY T HIS 17 
APPENDIX. 18 
 
 (C) THE ORDINANCE SHALL I NCLUDE PROVISIONS ES TABLISHING THE 19 
NUMBER OF MEMBERS OF THE PUBLIC BODY OR AGENC Y, THE MANNER OF THEIR 20 
APPOINTMENT AND REMO VAL, AND THE TERMS OF THE MEMBERS AND THEIR 21 
COMPENSATION . 22 
 
 (D) THE ORDINANCE MAY INC LUDE WHATEVER ADDITI ONAL PROVISIONS 23 
RELATING TO THE ORGA NIZATION OF THE PUBL IC BODY OR AGENCY AS MAY BE 24 
NECESSARY. 25 
 
 (E) IN THE EVENT THE LEGI SLATIVE BODY ENACTS THIS ORDINANCE , ALL 26 
OF THE POWERS BY THI S APPENDIX GRANTED T O THE MUNICIPALITY , FROM THE 27 
EFFECTIVE DATE OF TH E ORDINANCE, ARE VESTED IN THE PU BLIC BODY OR AGENCY 28 
ESTABLISHED BY THE ORDINANCE. 29 
 
A1–105. POWERS WITHHELD FROM THE AGENCY. 30 
 
 THE AGENCY MAY NOT : 31 
 
 (1) PASS A RESOLUTION TO INITIATE AN URBAN RE NEWAL PROJECT 32  8 	SENATE BILL 313  
 
 
PURSUANT TO SECTIONS A1–102 AND A1–103 OF THIS APPENDIX ; 1 
 
 (2) ISSUE GENERAL OBLIGAT ION BONDS PURSUANT T O SECTION  2 
A1–111 OF THIS APPENDIX ; OR 3 
 
 (3) APPROPRIATE FUNDS OR LEVY TAXES AND ASSES SMENTS 4 
PURSUANT TO SECTION A1–103(3) OF THIS APPENDIX . 5 
 
A1–106. INITIATION OF PROJECT . 6 
 
 IN ORDER TO INITIATE AN URBAN RENEWAL PRO JECT, THE LEGISLATIVE 7 
BODY OF THE MUNICIPA LITY SHALL ADOPT A RESOLUTION W HICH: 8 
 
 (1) FINDS THAT ONE OR MOR E SLUM OR BLIGHTED A REAS EXIST IN 9 
THE MUNICIPALITY ; 10 
 
 (2) LOCATES AND DEFINES T HE SLUM OR BLIGHTED AREA; AND 11 
 
 (3) FINDS THAT THE REHABI LITATION, REDEVELOPMENT , OR A 12 
COMBINATION OF THEM , OF THE AREA OR AREAS, IS NECESSARY AND IN THE 13 
INTEREST OF THE PUBL IC HEALTH, SAFETY, MORALS, OR WELFARE OF THE 14 
RESIDENTS OF THE MUN ICIPALITY. 15 
 
A1–107. PREPARATION AND APPRO VAL OF PLAN FOR URBA N RENEWAL PROJECT . 16 
 
 (A) IN ORDER TO CARRY OUT THE PURPOSES OF THIS APPENDIX, THE 17 
MUNICIPALITY SHALL H AVE PREPARED AN URBA N RENEWAL PLAN FOR S LUM OR 18 
BLIGHTED AREAS IN TH E MUNICIPALITY , AND SHALL APPROVE TH E PLAN 19 
FORMALLY. THE MUNICIPALITY SHAL L HOLD A PUBLIC HEAR ING ON AN URBAN 20 
RENEWAL PROJECT AFTE R PUBLIC NOTICE OF I T BY PUBLICAT ION IN A NEWSPAPER 21 
HAVING A GENERAL CIR CULATION WITHIN THE CORPORATE LIMITS OF THE 22 
MUNICIPALITY. THE NOTICE SHALL DESC RIBE THE TIME , DATE, PLACE, AND 23 
PURPOSE OF THE HEARI NG, SHALL GENERALLY IDEN TIFY THE URBAN RENEW AL 24 
AREA COVERED BY THE PLAN, AND SHALL OUT LINE THE GENERAL SCO PE OF THE 25 
URBAN RENEWAL PROJEC T UNDER CONSIDERATIO N. FOLLOWING THE HEARING , 26 
THE MUNICIPALITY MAY APPROVE AN URBAN REN EWAL PROJECT AND THE PLAN 27 
THEREFOR IF IT FINDS THAT: 28 
 
 (1) A FEASIBLE METHOD EXIS TS FOR THE LOCATION OF ANY 29 
FAMILIES OR NATURAL PERSONS WH O WILL BE DISPLACED FROM THE URBAN 30 
RENEWAL AREA IN DECE NT, SAFE, AND SANITARY DWELLIN G ACCOMMODATIONS 31 
WITHIN THEIR MEANS A ND WITHOUT UNDUE HAR DSHIP TO THE FAMILIE S OR 32 
NATURAL PERSONS ; 33   	SENATE BILL 313 	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  10 	SENATE BILL 313  
 
 
OBLIGATION TO BEGIN WITHIN A REA SONABLE TIME ANY IMP ROVEMENTS ON THE 1 
REAL PROPERTY REQUIR ED BY THE URBAN RENE WAL PLAN. THE REAL PROPERTY 2 
OR INTEREST MAY NOT BE SOLD, LEASED, OTHERWISE TRANSFERRE D, OR RETAINED 3 
AT LESS THAN ITS FAI R VALUE FOR USES IN ACCORDANCE WITH THE URBAN 4 
RENEWAL PLAN . IN DETERMINING THE FA IR VALUE OF REAL PRO PERTY FOR USES 5 
IN ACCORDANCE WITH T HE URBAN RENEWAL PLA N, THE MUNICIPALITY SHA LL TAKE 6 
INTO ACCOUNT AND GIV E CONSIDERATION TO T HE USES PROVIDED IN THE PLAN, 7 
THE RESTRICTIONS ON , AND THE COVENANTS , CONDITIONS, AND OBLIGATIONS 8 
ASSUMED BY THE PURCH ASER OR LESSEE OR BY THE MUNICIPALITY RET AINING THE 9 
PROPERTY, AND THE OBJECTIVES O F THE PLAN FOR THE P REVENTION OF THE 10 
RECURRENCE OF SLUM O R BLIGHTED AREAS . IN ANY INSTRUMENT OR CONVEYANCE 11 
TO A PRIVATE PURCHAS ER OR LESSEE, THE MUNICIPALITY MAY PRO VIDE THAT THE 12 
PURCHASER OR LESSEE MAY NOT SELL, LEASE, OR OTHERWISE TRANSFE R THE REAL 13 
PROPERTY WITHOUT THE PRIOR WRITTEN CONSEN T OF THE MUNICIPALIT Y UNTIL 14 
THE PURCHASER OR LES SEE HAS COMPLETED TH E CONSTRUCTION OF AN Y OR ALL 15 
IMPROVEMENT S WHICH THE PURCHASE R OR LESSEE HAS BEEN OBLIGATED TO 16 
CONSTRUCT ON THE PRO PERTY. REAL PROPERTY ACQUIRE D BY THE MUNICIPALIT Y 17 
WHICH, IN ACCORDANCE WITH T HE PROVISIONS OF THE URBAN RENEWAL PLAN , IS 18 
TO BE TRANSFERRED , SHALL BE TRANSFERRED AS RAPIDLY AS FEASIB LE IN THE 19 
PUBLIC INTEREST CONS ISTENT WITH THE CARR YING OUT OF THE PROV ISIONS OF 20 
THE URBAN RENEWAL PL AN. ANY CONTRACT FOR THE TRANSFER AND THE URB AN 21 
RENEWAL PLAN (OR ANY PART OR PARTS OF THE CONTRACT OR P LAN AS THE 22 
MUNICIPALITY DETERMI NES) MAY BE RECORDED IN THE LAND RECORDS OF THE 23 
COUNTY IN WHICH THE MUNICIPALITY IS SITU ATED IN A MANNER SO AS TO AFFORD 24 
ACTUAL OR CONSTRUCTI VE NOTICE OF IT. 25 
 
 (B) THE MUNICIPALITY , BY ORDINANCE , MAY DISPOSE OF REAL PROPERTY 26 
IN AN URBAN RENEWAL AREA TO PRIVATE PERS ONS. THE MUNICIPALITY MAY, BY 27 
PUBLIC NOTICE BY PUB LICATION IN A NEWSPA PER HAVING A GENERAL 28 
CIRCULATION IN THE C OMMUNITY, INVITE PROPOSALS FRO M AND MAKE AVAILABLE 29 
ALL PERTINENT INFORM ATION TO PRIVATE RED EVELOPERS OR ANY PER SONS 30 
INTERESTED IN UNDERT AKING TO REDEVELOP O R REHABILITATE AN URBAN 31 
RENEWAL AREA , OR ANY PART THEREOF . THE NOTICE SHALL IDEN TIFY THE AREA, 32 
OR PORTION THEREOF , AND SHALL STATE THAT PROPOSALS SHALL BE M ADE BY 33 
THOSE INTERESTED WIT HIN A SPECIFIED PERI OD. THE MUNICIPALITY SHAL L 34 
CONSIDER ALL REDEVEL OPMENT OR REHABILITATION PROPO SALS AND THE 35 
FINANCIAL AND LEGAL ABILITY OF THE PERSO NS MAKING PROPOSALS TO CARRY 36 
THEM OUT, AND MAY NEGOTIATE WI TH ANY PERSONS FOR P ROPOSALS FOR THE 37 
PURCHASE, LEASE, OR OTHER TRANSFER OF ANY REAL PROPERTY AC QUIRED BY 38 
THE MUNICIPALITY I N THE URBAN RENEWAL AREA. THE MUNICIPALITY MAY ACCEPT 39 
ANY PROPOSAL AS IT D EEMS TO BE IN THE PU BLIC INTEREST AND IN FURTHERANCE 40 
OF THE PURPOSES OF T HIS APPENDIX. THEREAFTER , THE MUNICIPALITY MAY 41 
EXECUTE AND DELIVER CONTRACTS, DEEDS, LEASES, AND OTHER INSTRU MENTS 42   	SENATE BILL 313 	11 
 
 
AND TAKE ALL STEPS N ECESSARY TO EFFECTUA TE THE TRANSFERS . 1 
 
 (C) THE MUNICIPALITY MAY OPERATE TEMPORARILY AND MAINTAIN REAL 2 
PROPERTY ACQUIRED BY IT IN AN URBAN RENEW AL AREA FOR OR IN CO NNECTION 3 
WITH AN URBAN RENEWA L PROJECT PENDING TH E DISPOSITION OF THE PROPERTY 4 
AS AUTHORIZED IN THI S APPENDIX, WITHOUT REGARD TO TH E PROVISIONS OF 5 
SUBSECTION (A) OF THIS SECTION , FOR USES AND PURPOSE S CONSIDERED 6 
DESIRABLE EVEN THOUG H NOT IN CONFORMITY WITH THE URBAN RENEW AL PLAN. 7 
 
 (D) ANY INSTRUMENT EXECUT ED BY THE MUNI CIPALITY AND PURPORT ING 8 
TO CONVEY ANY RIGHT , TITLE, OR INTEREST IN ANY P ROPERTY UNDER THIS 9 
APPENDIX SHALL BE PR ESUMED CONCLUSIVELY TO HAVE BEEN EXECUTE D IN 10 
COMPLIANCE WITH THE PROVISIONS OF THIS A PPENDIX INSOFAR AS T ITLE OR 11 
OTHER INTEREST OF AN Y BONA FIDE PURCHASERS , LESSEES, OR TRANSFEREES OF 12 
THE PROPERTY IS CONC ERNED. 13 
 
A1–109. EMINENT DOMAIN . 14 
 
 CONDEMNATION OF LAND OR PROPERTY UNDER TH E PROVISIONS OF THIS 15 
APPENDIX SHALL BE IN ACCORDANCE WITH THE PROCEDURE PROVIDED I N THE 16 
REAL PROPERTY ARTICLE OF THE ANNOTATED CODE OF MARYLAND. 17 
 
A1–110. ENCOURAGEMENT OF PRIV ATE ENTERPRISE . 18 
 
 THE MUNICIPALITY , TO THE EXTENT IT DET ERMINES TO BE FEASIB LE IN 19 
CARRYING OUT THE PRO VISIONS OF THIS APPE NDIX, SHALL AFFORD MAXIMUM 20 
OPPORTUNITY TO THE R EHABILITATION OR RED EVELOPMENT OF ANY URBAN 21 
RENEWAL AREA BY PRIV ATE ENTERPRISE CONSI STENT WITH THE SOUND NEEDS OF 22 
THE MUNICIPALITY AS A WHOLE. THE MUNICIPALITY SHAL L GIVE CONSIDERATION 23 
TO THIS OBJECTIVE IN EXERCISING ITS POWER S UNDER THIS APPENDI X. 24 
 
A1–111. GENERAL OBLIGATION BO NDS. 25 
 
 FOR THE PURPOSE OF FINAN CING AND CARRYING OU T AN URBAN RENEWAL 26 
PROJECT AND RELATED ACTIVITIES, THE MUNICIPALITY MAY ISSUE AND SELL ITS 27 
GENERAL OBLIGATION B ONDS. ANY BONDS ISSUED BY T HE MUNICIPALITY 28 
PURSUANT TO THIS SEC TION SHALL BE ISSUED IN THE MANNER AND WI THIN THE 29 
LIMITATIONS PRESCRIB ED BY APPLICABLE LAW FOR THE ISSUANCE AND 30 
AUTHORIZATION OF GEN ERAL OBLIGATION BOND S BY THE MUNICIPALIT Y, AND 31 
ALSO WITHIN LIMITATI ONS DETERMINED BY TH E MUNICIPALITY. 32 
 
A1–112. REVENUE BONDS . 33 
  12 	SENATE BILL 313  
 
 
 (A) IN ADDITION TO THE AU THORITY CONF ERRED BY SECTION A1–111 OF 1 
THIS APPENDIX, THE MUNICIPALITY MAY ISSUE REVENUE BONDS TO FINANCE THE 2 
UNDERTAKING OF ANY U RBAN RENEWAL PROJECT AND RELATED ACTIVITI ES. ALSO, 3 
IT MAY ISSUE REFUNDI NG BONDS FOR THE PAY MENT OR RETIREMENT O F THE 4 
BONDS ISSUED PREVIOU SLY BY IT. THE BONDS SHALL BE MA DE PAYABLE, AS TO 5 
BOTH PRINCIPAL AND I NTEREST, SOLELY FROM THE INCO ME, PROCEEDS, 6 
REVENUES, AND FUNDS OF THE MUN ICIPALITY DERIVED FR OM OR HELD IN 7 
CONNECTION WITH THE UNDERTAKING AND CARR YING OUT OF URBAN RE NEWAL 8 
PROJECTS UNDER THIS APPENDIX. HOWEVER, PAYMENT OF THE BONDS , BOTH AS 9 
TO PRINCIPAL AND INT EREST, MAY BE FURTHER SECUR ED BY A PLEDGE OF AN Y 10 
LOAN, GRANT, OR CONTRIBUTION FROM THE FEDERAL GOVERNME NT OR OTHER 11 
SOURCE, IN AID OF ANY URBAN RENEWAL PROJECTS OF THE MUNICIPALITY U NDER 12 
THIS APPENDIX, AND BY A MORTGAGE OF ANY URBAN RENEWAL PR OJECT, OR ANY 13 
PART OF A PROJECT , TITLE TO WHICH IS IN THE MUNICIPALITY . IN ADDITION, THE 14 
MUNICIPALITY MAY ENT ER INTO AN INDENTURE OF TRUST WITH ANY PR IVATE 15 
BANKING INSTITUTION OF THIS STATE HAVING TRUST POWERS AND M AY MAKE IN 16 
THE INDENTURE OF TRU ST COVENANTS AND COM MITMENTS REQUIRED BY ANY 17 
PURCHASER FOR THE AD EQUATE SECURITY OF T HE BONDS. 18 
 
 (B) BONDS ISSUED UNDER TH IS SECTION DO NOT CO NSTITUTE AN 19 
INDEBTEDNESS WITHIN THE MEANING OF ANY C ONSTITUTION AL OR STATUTORY 20 
DEBT LIMITATION OR R ESTRICTION, ARE NOT SUBJECT TO T HE PROVISIONS OF ANY 21 
OTHER LAW OR CHARTER RELATING TO THE AUTH ORIZATION, ISSUANCE, OR SALE 22 
OF BONDS , AND ARE EXEMPTED SPE CIFICALLY FROM THE R ESTRICTIONS 23 
CONTAINED IN §§ 19–205 AND 19–206 OF THE LOCAL GOVERNMENT ARTICLE OF 24 
THE ANNOTATED CODE OF MARYLAND. BONDS ISSUED UNDER TH E PROVISIONS OF 25 
THIS APPENDIX ARE DE CLARED TO BE ISSUED FOR AN ESSENTIAL PUB LIC AND 26 
GOVERNMENTAL PURPOSE AND, TOGETHER WITH INTERE ST ON THEM AND INCOM E 27 
FROM THEM, ARE EXEMPT FROM ALL TAXES . 28 
 
 (C) BONDS ISSUED UNDER TH IS SECTION SHALL BE AUTHORIZED BY 29 
RESOLUTION OR ORDINA NCE OF THE LEGISLATI VE BODY OF THE MUNIC IPALITY. 30 
THEY MAY BE ISSUED IN ONE OR MORE SERIES A ND SHALL: 31 
 
 (1) BEAR A DATE OR DATES ; 32 
 
 (2) MATURE AT A TIME OR TIMES; 33 
 
 (3) BEAR INTEREST AT A RA TE OR RATES; 34 
 
 (4) BE IN A DENOMINATION OR DENOMINATIONS ; 35 
 
 (5) BE IN A FORM EITHER W ITH OR WITHOUT COUPO N OR 36   	SENATE BILL 313 	13 
 
 
REGISTERED; 1 
 
 (6) CARRY A CONVERSION OR REGISTRATION PRIVILE GE; 2 
 
 (7) HAVE A RANK OR PRIORI TY; 3 
 
 (8) BE EXECUTED IN A MANNER ; 4 
 
 (9) BE PAYABLE IN A MEDIU M OF PAYMENT , AT A PLACE OR PLACES , 5 
AND BE SUBJECT TO TE RMS OF REDEMPTION (WITH OR WITHOUT PREM IUM); 6 
 
 (10) BE SECURED IN A MANNE R; AND 7 
 
 (11) HAVE OTHER CHARACTERI STICS, AS ARE PROVIDED BY T HE 8 
RESOLUTION, TRUST INDENTURE , OR MORTGAGE ISSUED P URSUANT TO IT. 9 
 
 (D) THESE BONDS MAY NOT B E SOLD AT LESS THAN PAR VALUE AT PUBLIC 10 
SALES WHICH ARE HELD AFTER NOTICE IS PUBL ISHED PRIOR TO THE S ALE IN A 11 
NEWSPAPER HAVING A G ENERAL CIRCULATION I N THE AREA IN W HICH THE 12 
MUNICIPALITY IS LOCA TED AND IN WHATEVER OTHER MEDIUM OF PUBL ICATION AS 13 
THE MUNICIPALITY MAY DETERMINE. THE BONDS MAY BE EXCH ANGED ALSO FOR 14 
OTHER BONDS ON THE B ASIS OF PAR. HOWEVER, THE BONDS MAY NOT BE SOLD TO 15 
THE FEDERAL GOVERNME NT AT PRIVATE SAL E AT LESS THAN PAR , AND, IN THE 16 
EVENT LESS THAN ALL OF THE AUTHORIZED PR INCIPAL AMOUNT OF TH E BONDS IS 17 
SOLD TO THE FEDERAL GOVERNMENT , THE BALANCE MAY NOT BE SOLD AT PRIVATE 18 
SALE AT LESS THAN PA R AT AN INTEREST COS T TO THE MUNICIPALIT Y WHICH DOES 19 
NOT EXCEED THE INTEREST COST TO THE MUNICIPALITY OF THE PORTION OF TH E 20 
BONDS SOLD TO THE FE DERAL GOVERNMENT . 21 
 
 (E) IN CASE ANY OF THE PU BLIC OFFICIALS OF TH E MUNICIPALITY WHOSE 22 
SIGNATURES APPEAR ON ANY BONDS OR COUPONS ISSUED UNDER THIS AP PENDIX 23 
CEASE TO BE OFFICIA LS OF THE MUNICIPALI TY BEFORE THE DELIVE RY OF THE 24 
BONDS OR IN THE EVEN T ANY OF THE OFFICIA LS HAVE BECOME SUCH AFTER THE 25 
DATE OF ISSUE OF THE M, THE BONDS ARE VALID AND BINDING OBLIGATI ONS OF THE 26 
MUNICIPALITY IN ACCO RDANCE WITH THEIR TE RMS. ANY PROVISION OF ANY LAW 27 
TO THE CONTRARY NOTW ITHSTANDING, ANY BONDS ISSUED PUR SUANT TO THIS 28 
APPENDIX ARE FULLY N EGOTIABLE. 29 
 
 (F) IN ANY SUIT, ACTION, OR PROCEEDING INVOLV ING THE VALIDITY OR 30 
ENFORCEABILITY OF AN Y BOND ISSUED UNDER THIS APPENDIX, OR THE SECURITY 31 
FOR IT, ANY BOND WHICH RECITES I N SUBSTANCE THAT IT HAS BEEN ISSUED BY T HE 32 
MUNICIPALITY IN CONN ECTION WITH AN URBAN RENEWAL PROJECT SHAL L BE 33 
CONSIDERED CONCLUSIV ELY TO HAVE BEEN ISS UED FOR THAT PURPOSE , AND THE 34  14 	SENATE BILL 313  
 
 
PROJECT SHALL BE CON SIDERED CONCLUSIVELY TO HAVE BEEN PLA NNED, 1 
LOCATED, AND CARRIED OUT IN A CCORDANCE WITH THE P ROVISIONS OF THIS 2 
APPENDIX. 3 
 
 (G) ALL BANKS, TRUST COMPANIES , BANKERS, SAVINGS BANKS , AND 4 
INSTITUTIONS, BUILDING AND LOAN AS SOCIATIONS, SAVINGS AND LOAN 5 
ASSOCIATIONS, INVESTMENT COMPANIES , AND OTHER PE RSONS CARRYING ON A 6 
BANKING OR INVESTMEN T BUSINESS; ALL INSURANCE COMPAN IES, INSURANCE 7 
ASSOCIATIONS, AND OTHER PERSONS CA RRYING ON AN INSURAN CE BUSINESS; AND 8 
ALL EXECUTORS , ADMINISTRATORS , CURATORS, TRUSTEES, AND OTHER 9 
FIDUCIARIES, MAY LEGALLY INVEST A NY SINKING FUNDS , MONEYS, OR OTHER 10 
FUNDS BELONGING TO T HEM OR WITHIN THEIR CONTROL IN ANY BONDS OR OTHER 11 
OBLIGATIONS ISSUED B Y THE MUNICIPALITY P URSUANT TO THIS APPE NDIX. 12 
HOWEVER, THE BONDS AND OTHER OBLIGATIONS SHALL BE SECURED BY AN 13 
AGREEMENT BETWEEN TH E ISSUER AND THE FEDERAL GOVERNMENT IN WHICH THE 14 
ISSUER AGREES TO BOR ROW FROM THE FEDERAL GOVERNMENT AND THE F EDERAL 15 
GOVERNMENT AGREES TO LEND TO THE ISSUER , PRIOR TO THE MATURIT Y OF THE 16 
BONDS OR OTHER OBLIG ATIONS, MONEYS IN AN AMOUNT WHICH (TOGETHER WITH 17 
ANY OTHER MONEYS COMMITTE D IRREVOCABLY TO THE PAYMENT OF PRINCIPAL 18 
AND INTEREST ON THE BONDS OR OTHER OBLIG ATIONS) WILL SUFFICE TO PAY THE 19 
PRINCIPAL OF THE BON DS OR OTHER OBLIGATI ONS WITH INTEREST TO MATURITY 20 
ON THEM. THE MONEYS UNDER THE TERMS OF THE AGREEME NT SHALL BE 21 
REQUIRED TO BE USED FOR THE PURPOSE OF P AYING THE PRINCIPAL OF AND THE 22 
INTEREST ON THE BOND S OR OTHER OBLIGATIO NS AT THEIR MATURITY . THE BONDS 23 
AND OTHER OBLIGATION S SHALL BE AUTHORIZE D SECURITY FOR ALL P UBLIC 24 
DEPOSITS. THIS SECTION AUTHORIZ ES ANY PERSONS OR PUBLIC OR PRIVATE 25 
POLITICAL SUBDIVISIO NS AND OFFICERS TO U SE ANY FUNDS OWNED O R 26 
CONTROLLED BY THEM F OR THE PURCHASE OF A NY BONDS OR OTHER 27 
OBLIGATIONS. WITH REGARD TO LEGAL INVESTMENTS , THIS SECTION MAY NOT BE 28 
CONSTRUED TO RELIEVE ANY PERSON OF ANY DUTY OF EXERCISI NG REASONABLE 29 
CARE IN SELECTING SE CURITIES. 30 
 
A1–113. SHORT TITLE. 31 
 
 THIS APPENDIX SHALL B E KNOWN AND MAY BE C ITED AS THE MOUNT AIRY 32 
URBAN RENEWAL AUTHORITY FOR SLUM CLEARANCE ACT. 33 
 
A1–114. AUTHORITY TO AMEND OR REPEAL. 34 
 
 THIS APPENDIX, ENACTED PURSUANT TO ARTICLE III, SECTION 61 OF THE 35 
MARYLAND CONSTITUTION, MAY BE AMENDED OR RE PEALED ONLY BY THE 36 
GENERAL ASSEMBLY OF MARYLAND. 37 
   	SENATE BILL 313 	15 
 
 
 SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect 1 
October 1, 2023. 2 
 
 
 
 
Approved: 
________________________________________________________________________________  
 Governor. 
________________________________________________________________________________  
         President of the Senate. 
________________________________________________________________________________  
  Speaker of the House of Delegates.