MD
Maryland Senate Bill SB506

Maryland 2023 Regular Session

Maryland Senate Bill SB506 Compare Versions

OldNewDifferences
1- WES MOORE, Governor Ch. 210
21
3-– 1 –
4-Chapter 210
5-(Senate Bill 506)
62
7-AN ACT concerning
3+EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW.
4+ [Brackets] indicate matter deleted from existing law.
5+ Underlining indicates amendments to bill.
6+ Strike out indicates matter stricken from the bill by amendment or deleted from the law by
7+amendment.
8+ *sb0506*
89
9-Town of Forest Heights (Prince George’s County) – Urban Renewal Authority
10-for Blight Clearance
10+SENATE BILL 506
11+L3 3lr2874
12+ CF HB 825
13+By: Senator Muse
14+Introduced and read first time: February 3, 2023
15+Assigned to: Finance
16+Committee Report: Favorable
17+Senate action: Adopted
18+Read second time: March 9, 2023
1119
12-FOR the purpose of granting the Town of Forest Heights in Prince George’s County the
13-authority to exercise urban renewal powers in areas zoned for commercial use for
14-blight clearance and redevelopment under Article III, Section 61 of the Maryland
15-Constitution; authorizing the municipality to levy certain taxes and issue general
16-obligation bonds and revenue bonds to carry out urban renewal powers; and
17-generally relating to urban renewal authority for blight clearance for the Town of
18-Forest Heights in Prince George’s County.
20+CHAPTER ______
1921
20-BY adding to
21- Chapter 33 – Charter of the Town of Forest Heights
22-Section A1–101 through A1–114 to be under the new heading “Appendix I – Urban
23-Renewal Authority for Blight Clearance”
24- Public Local Laws of Maryland – Compilation of Municipal Charters
25- (2015 Replacement Edition and 2021 Supplement)
22+AN ACT concerning 1
2623
27- SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND,
28-That the Laws of Maryland read as follows:
24+Town of Forest Heights (Prince George’s County) – Urban Renewal Authority 2
25+for Blight Clearance 3
2926
30-Chapter 33 – Charter of the Town of Forest Heights
27+FOR the purpose of granting the Town of Forest Heights in Prince George’s County the 4
28+authority to exercise urban renewal powers in areas zoned for commercial use for 5
29+blight clearance and redevelopment under Article III, Section 61 of the Maryland 6
30+Constitution; authorizing the municipality to levy certain taxes and issue general 7
31+obligation bonds and revenue bonds to carry out urban renewal powers; and 8
32+generally relating to urban renewal authority for blight clearance for the Town of 9
33+Forest Heights in Prince George’s County. 10
3134
32-APPENDIX I – URBAN RENEWAL AUTHORITY FOR BLIGHT CLEARANCE
35+BY adding to 11
36+ Chapter 33 – Charter of the Town of Forest Heights 12
37+Section A1–101 through A1–114 to be under the new heading “Appendix I – Urban 13
38+Renewal Authority for Blight Clearance” 14
39+ Public Local Laws of Maryland – Compilation of Municipal Charters 15
40+ (2015 Replacement Edition and 2021 Supplement) 16
3341
34-A1–101. DEFINITIONS.
42+ SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 17
43+That the Laws of Maryland read as follows: 18
3544
36- (A) IN THIS APPENDIX THE FOLLOWING WORDS HAVE THE MEANINGS
37-INDICATED.
45+Chapter 33 – Charter of the Town of Forest Heights 19
3846
39- (B) “BLIGHTED AREA ” MEANS AN AREA OR SIN GLE PROPERTY IN WHIC H
40-THE BUILDING OR BUIL DINGS HAVE DECLINED IN PRODUCTIVITY BY R EASON OF
41-OBSOLESCENCE , DEPRECIATION , OR OTHER CAUSES TO A N EXTENT THAT THEY N O
42-LONGER JUSTIFY FUNDA MENTAL REPAIRS AND A DEQUATE MAINTENANCE .
47+APPENDIX I – URBAN RENEWAL AUTHORITY FOR BLIGHT CLEARANCE 20
48+ 2 SENATE BILL 506
4349
44- (C) “BONDS” MEANS ANY BONDS (INCLUDING REFUNDING BONDS), NOTES,
45-INTERIM CERTIFICATES , CERTIFICATES OF INDE BTEDNESS, DEBENTURES , OR
46-OTHER OBLIGATIONS.
47- Ch. 210 2023 LAWS OF MARYLAND
4850
49-– 2 –
50- (D) “FEDERAL GOVERNMENT ” MEANS THE UNITED STATES OF AMERICA OR
51-ANY AGENCY OR INSTRU MENTALITY, CORPORATE OR OTHERWI SE, OF THE UNITED
52-STATES OF AMERICA.
51+A1–101. DEFINITIONS. 1
5352
54- (E) “MUNICIPALITY” MEANS THE TOWN OF FOREST HEIGHTS, MARYLAND.
53+ (A) IN THIS APPENDIX THE FO LLOWING WORDS HAVE T HE MEANINGS 2
54+INDICATED. 3
5555
56- (F) “PERSON” MEANS ANY INDIVIDUAL, FIRM, PARTNERSHIP ,
57-CORPORATION , COMPANY, ASSOCIATION, JOINT STOCK ASSOCIAT ION, OR BODY
58-POLITIC. IT INCLUDES ANY TRUST EE, RECEIVER, ASSIGNEE, OR OTHER PERSON
59-ACTING IN SIMILAR RE PRESENTATIVE CAPACIT Y.
56+ (B) “BLIGHTED AREA ” MEANS AN AREA OR SIN GLE PROPERTY IN WHIC H 4
57+THE BUILDING OR BUIL DINGS HAVE DECLINED IN PRODUCTIVITY BY R EASON OF 5
58+OBSOLESCENCE , DEPRECIATION , OR OTHER CAUSES TO A N EXTENT THA T THEY NO 6
59+LONGER JUSTIFY FUNDA MENTAL REPAIRS AND A DEQUATE MAINTENANCE . 7
6060
61- (G) “URBAN RENEWAL AREA ” MEANS A BLIGHTED AREA WHICH THE
62-MUNICIPALITY DESIGNA TES AS APPROPRIATE F OR AN URBAN RENEWAL PROJECT.
61+ (C) “BONDS” MEANS ANY BONDS (INCLUDING REFUNDING BONDS), NOTES, 8
62+INTERIM CERTIFICATES , CERTIFICATES OF INDE BTEDNESS, DEBENTURES , OR 9
63+OTHER OBLIGATIONS . 10
6364
64- (H) “URBAN RENEWAL PLAN ” MEANS A PLAN , AS IT EXISTS FROM TI ME TO
65-TIME, FOR AN URBAN RENEWAL PROJECT. THE PLAN SHALL BE SUF FICIENTLY
66-COMPLETE TO INDICATE ANY LAND ACQUISIT ION, DEMOLITION, AND REMOVAL OF
67-STRUCTURES , REDEVELOPMENT , IMPROVEMENTS , AND REHABILITATION A S MAY BE
68-PROPOSED TO BE CARRI ED OUT IN THE URBAN RENEWAL AREA , ZONING AND
69-PLANNING CHANGES , IF ANY, LAND USES, MAXIMUM DENSITY , AND BUILDING
70-REQUIREMENTS .
65+ (D) “FEDERAL GOVERNMENT ” MEANS THE UNITED STATES OF AMERICA OR 11
66+ANY AGENCY OR INSTRU MENTALITY, CORPORATE OR OTHERWI SE, OF THE UNITED 12
67+STATES OF AMERICA. 13
7168
72- (I) “URBAN RENEWAL PROJECT ” MEANS UNDERTAKINGS A ND ACTIVITIES
73-OF A MUNICIPALITY IN AN URBAN RENEWAL ARE A FOR THE ELIMINATIO N AND FOR
74-THE PREVENTION OF TH E DEVELOPMENT OR SPR EAD OF BLIGHT, AND MAY INVOLVE
75-CLEARANCE AND REDEVE LOPMENT IN AN URBAN RENEWAL AREA , OR
76-REHABILITATION OR CON SERVATION IN AN URBA N RENEWAL AREA , OR ANY
77-COMBINATION OR PART OF THEM IN ACCORDANC E WITH AN URBAN RENE WAL PLAN.
78-THESE UNDERTAKINGS AN D ACTIVITIES MAY INC LUDE:
69+ (E) “MUNICIPALITY” MEANS THE TOWN OF FOREST HEIGHTS, MARYLAND. 14
7970
80- (1) ACQUISITION OF A BLIG HTED AREA OR PORTION OF THE
81-BLIGHTED AREA ;
71+ (F) “PERSON” MEANS ANY INDIVIDUAL , FIRM, PARTNERSHIP , 15
72+CORPORATION , COMPANY, ASSOCIATION, JOINT STOCK ASSOCIAT ION, OR BODY 16
73+POLITIC. IT INCLUDES ANY TRUST EE, RECEIVER, ASSIGNEE, OR OTHER PERSON 17
74+ACTING IN SIMILAR RE PRESENTATIVE CAPACIT Y. 18
8275
83- (2) DEMOLITION AND REMOVA L OF BUILDINGS AND I MPROVEMENTS ;
76+ (G) “URBAN RENEWAL AREA ” MEANS A BLIGHTED ARE A WHICH THE 19
77+MUNICIPALITY DESIGNA TES AS APPROPRIATE FOR AN URBAN RENEWAL PROJECT . 20
8478
85- (3) INSTALLATION , CONSTRUCTION OR RECO NSTRUCTION OF
86-STREETS, UTILITIES, PARKS, PLAYGROUNDS , AND OTHER IMPROVEMEN TS
87-NECESSARY FOR CARRYI NG OUT THE URBAN REN EWAL OBJECTIVES OF T HIS
88-APPENDIX IN ACCORD ANCE WITH THE URBAN RENEWAL PLAN ;
79+ (H) “URBAN RENEWAL PLAN ” MEANS A PLAN , AS IT EXISTS FROM TI ME TO 21
80+TIME, FOR AN URBAN RENEWAL PROJECT. THE PLAN SHALL BE SUF FICIENTLY 22
81+COMPLETE TO INDICATE ANY LAND ACQUISITION , DEMOLITION, AND REMOVAL OF 23
82+STRUCTURES , REDEVELOPMENT , IMPROVEMENTS , AND REHABILITATION A S MAY BE 24
83+PROPOSED TO BE CARRI ED OUT IN THE URBAN RENEWAL AREA , ZONING AND 25
84+PLANNING CHANGES , IF ANY, LAND USES, MAXIMUM DENSITY , AND BUILDING 26
85+REQUIREMENTS . 27
8986
90- (4) DISPOSITION OF ANY PR OPERTY ACQUIRED IN T HE URBAN
91-RENEWAL AREA , INCLUDING SALE , INITIAL LEASING , OR RETENTION BY THE WES MOORE, Governor Ch. 210
87+ (I) “URBAN RENEWAL PROJECT ” MEANS UNDERTAKINGS A ND ACTIVITIES 28
88+OF A MUNICIPALITY IN AN URBAN RENEWAL ARE A FOR THE ELIMINATIO N AND FOR 29
89+THE PREVENTION OF TH E DEVELOPMENT OR SPR EAD OF BLIGHT, AND MAY INVOLVE 30
90+CLEARANCE AND REDEVE LOPMENT IN AN URBAN RENEWAL AREA , OR 31
91+REHABILITATION OR CO NSERVATION IN AN URB AN RENEWAL AREA , OR ANY 32
92+COMBINATION OR PART OF THEM IN ACCORDANC E WITH AN URBAN RENE WAL PLAN. 33
93+THESE UNDERTAKINGS AN D ACTIVITIES MAY INC LUDE: 34 SENATE BILL 506 3
9294
93-– 3 –
94-MUNICIPALITY ITSELF , AT ITS FAIR VALUE FO R USES IN ACCORDANCE WITH THE
95-URBAN RENEWAL PLAN ;
9695
97- (5) CARRYING OUT PLANS FO R A PROGRAM OF VOLUN TARY OR
98-COMPULSORY REPAIR AN D REHABILITATION OF BUILDINGS OR OTHER
99-IMPROVEMENTS IN ACCO RDANCE WITH THE URBA N RENEWAL PLAN ;
10096
101- (6) ACQUISITION OF ANY OT HER REAL PROPERTY IN THE URBAN
102-RENEWAL AREA WHERE N ECESSARY TO E LIMINATE UNHEALTHFUL , UNSANITARY,
103-OR UNSAFE CONDITIONS , LESSEN DENSITY , ELIMINATE OBSOLETE O R OTHER USES
104-DETRIMENTAL TO THE P UBLIC WELFARE , OR OTHERWISE TO REMO VE OR PREVENT
105-THE SPREAD OF BLIGHT OR DETERIORATION , OR TO PROVIDE LAND F OR NEEDED
106-PUBLIC FACILITIES; AND
97+ (1) ACQUISITION OF A BLIG HTED AREA OR PORTION OF THE 1
98+BLIGHTED AREA ; 2
10799
108- (7) THE PRESERVATION , IMPROVEMENT , OR EMBELLISHMENT OF
109-HISTORIC STRUCTURES OR MONUMENTS .
100+ (2) DEMOLITION AND REMOVA L OF BUILDINGS AND I MPROVEMENTS ; 3
110101
111-A1–102. POWERS.
102+ (3) INSTALLATION , CONSTRUCTION OR RECO NSTRUCTION OF 4
103+STREETS, UTILITIES, PARKS, PLAYGROUNDS , AND OTHER IMPROVEMEN TS 5
104+NECESSARY FOR CARRYI NG OUT THE URBAN REN EWAL OBJECTIVES OF T HIS 6
105+APPENDIX IN ACCORDAN CE WITH THE URBAN RE NEWAL PLAN; 7
112106
113- (A) THE MUNICIPALITY MAY UNDERTAKE AND CARRY OUT URBAN RENEWAL
114-PROJECTS IN AREAS OF THE MUNICIPALITY THA T ARE ZONED FOR COMM ERCIAL
115-USE.
107+ (4) DISPOSITION OF ANY PROP ERTY ACQUIRED IN THE URBAN 8
108+RENEWAL AREA , INCLUDING SALE , INITIAL LEASING , OR RETENTION BY THE 9
109+MUNICIPALITY ITSELF , AT ITS FAIR VALUE FO R USES IN ACCORDANCE WITH THE 10
110+URBAN RENEWAL PLAN ; 11
116111
117- (B) THESE PROJECTS SHALL BE LIMITED:
112+ (5) CARRYING OUT PLANS FO R A PROGRAM OF VOLUN TARY OR 12
113+COMPULSORY REPAIR AN D REHABILITATION OF BUILDINGS OR OTHER 13
114+IMPROVEMENTS IN ACCO RDANCE WITH THE URBA N RENEWAL PLAN ; 14
118115
119- (1) TO BLIGHT CLEARANCE I N BLIGHTED AREAS AND
120-REDEVELOPMENT OR THE REHABILITATION OF BL IGHTED AREAS ;
116+ (6) ACQUISITION OF ANY OT HER REAL PROPERTY IN THE URBAN 15
117+RENEWAL AREA WHERE N ECESSARY TO ELIMINAT E UNHEALTHFUL , UNSANITARY, 16
118+OR UNSAFE CONDITIONS, LESSEN DENSITY , ELIMINATE OBSOLETE O R OTHER USES 17
119+DETRIMENTAL TO THE P UBLIC WELFARE , OR OTHERWISE TO REMO VE OR PREVENT 18
120+THE SPREAD OF BLIGHT OR DETERIORATION , OR TO PROVIDE LAND F OR NEEDED 19
121+PUBLIC FACILITIES ; AND 20
121122
122- (2) TO ACQUIRE IN CONNECT ION WITH THOSE PROJE CTS, WITHIN
123-THE CORPORATE LIMITS OF THE MUNICIPALITY , LAND AND P ROPERTY OF EVERY
124-KIND AND ANY RIGHT , INTEREST, FRANCHISE, EASEMENT, OR PRIVILEGE ,
125-INCLUDING LAND OR PR OPERTY AND ANY RIGHT OR INTEREST ALREADY DEVOTED
126-TO PUBLIC USE, BY PURCHASE, LEASE, GIFT, CONDEMNATION , OR ANY OTHER LEGAL
127-MEANS; AND
123+ (7) THE PRESERVATION , IMPROVEME NT, OR EMBELLISHMENT OF 21
124+HISTORIC STRUCTURES OR MONUMENTS . 22
128125
129- (3) TO SELL, LEASE, CONVEY, TRANSFER, OR OTHERWISE DISPOSE OF
130-ANY OF THE LAND OR P ROPERTY, REGARDLESS OF WHETHE R OR NOT IT HAS BEEN
131-DEVELOPED , REDEVELOPED , ALTERED, OR IMPROVED AND IRRE SPECTIVE OF THE
132-MANNER OR MEANS IN O R BY WHICH IT MAY HA VE BEEN ACQUIRED , TO ANY PRIVATE,
133-PUBLIC, OR QUASI–PUBLIC CORPORATION , PARTNERSHIP , ASSOCIATION, PERSON,
134-OR OTHER LEGAL ENTIT Y.
126+A1–102. POWERS. 23
135127
136- (C) LAND OR PROPERTY TAKE N BY THE MUNICIPALIT Y FOR ANY OF THESE Ch. 210 2023 LAWS OF MARYLAND
128+ (A) THE MUNICIPALITY MAY UNDERTAKE AND CARRY OUT URBAN RENEWAL 24
129+PROJECTS IN AREAS OF THE MUNICIPALITY THA T ARE ZONED FOR COMM ERCIAL 25
130+USE. 26
137131
138-– 4 –
139-PURPOSES OR IN CONNE CTION WITH THE EXERC ISE OF ANY OF THE PO WERS WHICH
140-ARE GRANTED BY THIS APPENDIX TO THE MUNICIP ALITY BY EXERCISING THE
141-POWER OF EMINENT DOM AIN MAY NOT BE TAKEN WITHOUT JUST COMPENS ATION,
142-AS AGREED ON BETWEEN THE PARTIES, OR AWARDED BY A JURY , BEING FIRST PAID
143-OR TENDERED TO THE P ARTY ENTITLED TO THE COMPENSATION .
132+ (B) THESE PROJECTS SHALL BE LIMITED: 27
144133
145- (D) ALL LAND OR PROPERTY NEEDED OR TAKEN BY THE EXERCIS E OF THE
146-POWER OF EMINENT DOM AIN BY THE MUNICIPAL ITY FOR ANY OF THESE PURPOSES
147-OR IN CONNECTION WIT H THE EXERCISE OF AN Y OF THE POWERS GRAN TED BY THIS
148-APPENDIX IS DECLARED TO BE NEEDED OR TAKE N FOR PUBLIC USES AN D
149-PURPOSES.
134+ (1) TO BLIGHT CLEARANCE I N BLIGHTED AREAS AND 28
135+REDEVELOPMENT OR THE REHABILITATION OF BL IGHTED AREAS ; 29
150136
151- (E) ANY OR ALL OF THE ACT IVITIES AUTHORIZED P URSUANT TO THIS
152-APPENDIX CONSTITUTE GOVERNMENTAL FUNCTIO NS UNDERTAKEN FOR PU BLIC
153-USES AND PURPOSES AN D THE POWER OF TAXAT ION MAY BE EXERCISED , PUBLIC
154-FUNDS EXPENDED , AND PUBLIC CREDIT EX TENDED IN FURTHERANCE OF THEM .
137+ (2) TO ACQUIRE IN CONNECT ION WITH THOSE PROJE CTS, WITHIN 30
138+THE CORPORATE LIMITS OF THE MUNICIPALITY , LAND AND PROPERTY OF EVERY 31 4 SENATE BILL 506
155139
156-A1–103. ADDITIONAL POWERS .
157140
158- THE MUNICIPALITY HAS THE FOLLOWING ADDITI ONAL POWERS . THESE
159-POWERS ARE DECLARED TO BE NECESSARY AND PROPER TO CARRY INTO FULL
160-FORCE AND EFFECT THE SPECIFIC POWERS GRAN TED IN THIS APPENDIX AND TO
161-FULLY ACCO MPLISH THE PURPOSES AND OBJECTS CONTEMPL ATED BY THE
162-PROVISIONS OF THIS S ECTION:
141+KIND AND ANY RIGHT , INTEREST, FRANCHISE, EASEMENT, OR PRIVILEGE , 1
142+INCLUDING LAND OR PR OPERTY AND ANY RIGHT OR INTEREST ALREADY DEVOTED 2
143+TO PUBLIC USE, BY PURCHASE, LEASE, GIFT, CONDEMNATION , OR ANY OTHER LEGAL 3
144+MEANS; AND 4
163145
164- (1) TO MAKE OR HAVE MADE ALL SURVEYS AND PLAN S NECESSARY TO
165-THE CARRYING OUT OF THE PURPOSES OF THIS APPENDIX AND TO ADOP T OR
166-APPROVE, MODIFY, AND AMEND THOSE PLAN S. THESE PLANS MAY INCLUDE , BUT
167-ARE NOT LIMITED TO :
146+ (3) TO SELL, LEASE, CONVEY, TRANSFER, OR OTHERWISE DISPOSE OF 5
147+ANY OF THE LAND OR P ROPERTY, REGARDLESS OF WHETHE R OR NOT IT HAS BEEN 6
148+DEVELOPED , REDEVELOPED , ALTERED, OR IMPROVED AND IRRE SPECTIVE OF THE 7
149+MANNER OR MEANS IN O R BY WHICH IT MAY HA VE BEEN ACQUIRED , TO ANY PRIVATE, 8
150+PUBLIC, OR QUASI–PUBLIC CORPORATION , PARTNERSHIP, ASSOCIATION, PERSON, 9
151+OR OTHER LEGAL ENTIT Y. 10
168152
169- (I) PLANS FOR CARRYING OU T A PROGRAM OF VOLUN TARY OR
170-COMPULSORY REPAIR AN D REHABILITATION OF BUILDINGS AND IMPROV EMENTS;
153+ (C) LAND OR PROPERTY TAKE N BY THE MUNICIPALIT Y FOR ANY OF THESE 11
154+PURPOSES OR IN CONNE CTION WITH THE EXERC ISE OF ANY OF THE PO WERS WHICH 12
155+ARE GRANTED BY THIS APPENDIX TO THE MUNI CIPALITY BY EXERCISI NG THE 13
156+POWER OF EMINENT DOM AIN MAY NOT BE TAKEN WITHOUT JUST COMPENS ATION, 14
157+AS AGREED ON BETWEEN THE PARTIES, OR AWARDED BY A JURY , BEING FIRST PAID 15
158+OR TENDERED TO THE P ARTY ENTITLED TO THE COMPENSATION . 16
171159
172- (II) PLANS FOR THE ENFORCE MENT OF CODES AND
173-REGULATIONS RELATING TO THE USE OF LAND AND THE USE AND OCCU PANCY OF
174-BUILDINGS AND IMPROV EMENTS AND TO THE CO MPULSORY REPAIR ,
175-REHABILITATION , DEMOLITION, OR REMOVAL OF BUILDI NGS AND IMPROVEMENTS ;
176-AND
160+ (D) ALL LAND OR PROPERTY NEEDED OR TAKEN BY T HE EXERCISE OF THE 17
161+POWER OF EMINENT DOM AIN BY THE MUNICIPAL ITY FOR ANY OF THESE PURPOSES 18
162+OR IN CONNECTION WIT H THE EXERCISE OF AN Y OF THE POWERS GRAN TED BY THIS 19
163+APPENDIX IS DECLARED TO BE NEEDED OR TAKE N FOR PUBLIC USES AN D 20
164+PURPOSES. 21
177165
178- (III) APPRAISALS, TITLE SEARCHES , SURVEYS, STUDIES, AND
179-OTHER PLANS AND WORK NECESSARY TO PR EPARE FOR THE UNDERT AKING OF
180-URBAN RENEWAL PROJEC TS AND RELATED ACTIV ITIES, AND TO APPLY FOR , WES MOORE, Governor Ch. 210
166+ (E) ANY OR ALL OF THE ACT IVITIES AUTHORIZED PURSUANT TO THIS 22
167+APPENDIX CONSTITUTE GOVERNMENTAL FUNCTIO NS UNDERTAKEN FOR PU BLIC 23
168+USES AND PURPOSES AN D THE POWER OF TAXAT ION MAY BE EXERCISED , PUBLIC 24
169+FUNDS EXPENDED , AND PUBLIC CREDIT EX TENDED IN FURTHERANC E OF THEM. 25
181170
182-– 5 –
183-ACCEPT, AND UTILIZE GRANTS O F FUNDS FROM THE FED ERAL GOVERNMENT OR A NY
184-OTHER GOVERNMENTAL E NTITY FOR THOSE PURP OSES;
171+A1–103. ADDITIONAL POWERS . 26
185172
186- (2) TO PREPARE PLANS FOR THE RELOCATION OF PERSONS
187-(INCLUDING FAMILIES , BUSINESS CONCERNS , AND OTHERS ) DISPLACED FROM AN
188-URBAN RENEWAL AREA , AND TO MAKE RELOCATI ON PAYMENTS TO OR WI TH
189-RESPECT TO THOSE PER SONS FOR MOVING EXPE NSES AND LOSSES OF P ROPERTY
190-FOR WHICH REIMBURSEM ENT OR COMPENSATION IS NOT OTHERWISE MADE ,
191-INCLUDING THE MAKING OF PAYMENTS FINANCED BY THE FEDERAL GOVER NMENT;
173+ THE MUNICIPALITY HAS THE FOLLOWING ADDITI ONAL POWERS . THESE 27
174+POWERS ARE DECLARED TO BE NECESSARY AND PROPER TO CARRY INTO FULL 28
175+FORCE AND EFFECT THE SPECIFIC POWERS GRAN TED IN THIS APPENDIX AND TO 29
176+FULLY ACCOMPLISH THE PURPOSES AND OBJECTS CONTEMPLATED BY THE 30
177+PROVISIONS OF THIS S ECTION: 31
192178
193- (3) TO APPROPRIATE WHATEV ER FUNDS AND MAKE WH ATEVER
194-EXPENDITURES AS MAY BE NECESSARY TO CARR Y OUT THE PURPOSES O F THIS
195-APPENDIX, INCLUDING, BUT NOT LIMITED :
179+ (1) TO MAKE OR HAVE MADE ALL SURVEYS AND PLAN S NECESSARY TO 32
180+THE CARRYING OUT OF THE PURPOSES OF THIS APPENDIX AND TO ADOP T OR 33
181+APPROVE, MODIFY, AND AMEND THOSE PLAN S. THESE PLANS MAY INCLU DE, BUT 34
182+ARE NOT LIMITED TO : 35
183+ SENATE BILL 506 5
196184
197- (I) TO THE PAYMENT OF ANY A ND ALL COSTS AND EXP ENSES
198-INCURRED IN CONNECTI ON WITH, OR INCIDENTAL TO , THE ACQUISITION OF L AND
199-OR PROPERTY , AND FOR THE DEMOLITI ON, REMOVAL, RELOCATION , RENOVATION ,
200-OR ALTERATION OF LAN D, BUILDINGS, STREETS, HIGHWAYS, ALLEYS, UTILITIES, OR
201-SERVICES, AND OTHER STRUCTURES OR IMPROVEMENTS , AND FOR THE
202-CONSTRUCTION , RECONSTRUCTION , INSTALLATION, RELOCATION, OR REPAIR OF
203-STREETS, HIGHWAYS, ALLEYS, UTILITIES, OR SERVICES, IN CONNECTION WITH
204-URBAN RENEWAL PROJEC TS;
205185
206- (II) TO LEVY TAXES AND ASSESSMENTS FOR THOS E PURPOSES;
186+ (I) PLANS FOR CARRYING OU T A PROGRAM OF VOLUN TARY OR 1
187+COMPULSORY REPAIR AN D REHABILITATION OF BUILDINGS AND IMPROV EMENTS; 2
207188
208- (III) TO BORROW MONEY AND T O APPLY FOR AND ACCE PT
209-ADVANCES, LOANS, GRANTS, CONTRIBUTIONS , AND ANY OTHER FORM O F FINANCIAL
210-ASSISTANCE FROM THE FEDERAL GOVERNMENT , THE STATE, COUNTY, OR OTHER
211-PUBLIC BODIES, OR FROM ANY SOURCES, PUBLIC OR PRIVATE , FOR THE PURPOSES
212-OF THIS APPENDIX , AND TO GIVE WHATEVER SECURITY AS MAY BE R EQUIRED FOR
213-THIS FINANCIAL ASSIS TANCE; AND
189+ (II) PLANS FOR THE ENFORCE MENT OF CODES AND 3
190+REGULATIONS RELATING TO THE USE OF LAND A ND THE USE AND OCCUP ANCY OF 4
191+BUILDINGS AND IMPROVEMENTS AND TO THE COMPULSORY REPAI R, 5
192+REHABILITATION , DEMOLITION, OR REMOVAL OF BUILDI NGS AND IMPROVEMENTS ; 6
193+AND 7
214194
215- (IV) TO INVEST ANY URBAN R ENEWAL FUNDS HELD IN RESERVES
216-OR SINKING FUNDS OR ANY OF THESE FUNDS N OT REQUIR ED FOR IMMEDIATE
217-DISBURSEMENT IN PROP ERTY OR SECURITIES W HICH ARE LEGAL INVES TMENTS FOR
218-OTHER MUNICIPAL FUND S;
195+ (III) APPRAISALS, TITLE SEARCHES , SURVEYS, STUDIES, AND 8
196+OTHER PLANS AND WORK NECESSARY TO PREPARE FOR THE UNDERTAKING OF 9
197+URBAN RENEWAL PROJECTS AND RELATED ACTIVITIES, AND TO APPLY FOR , 10
198+ACCEPT, AND UTILIZE GRANTS O F FUNDS FROM THE FED ERAL GOVERNMENT OR A NY 11
199+OTHER GOVERNMENTAL E NTITY FOR THOSE PURP OSES; 12
219200
220- (4) (I) TO HOLD , IMPROVE, CLEAR, OR PREPARE FOR
221-REDEVELOPMENT ANY PR OPERTY ACQUIRED IN C ONNECTION WITH URBAN
222-RENEWAL PROJECTS ;
201+ (2) TO PREPARE PLANS FOR THE RELOCATION OF PE RSONS 13
202+(INCLUDING FAMILIES , BUSINESS CONC ERNS, AND OTHERS ) DISPLACED FROM AN 14
203+URBAN RENEWAL AREA , AND TO MAKE RELOCATI ON PAYMENTS TO OR WI TH 15
204+RESPECT TO THOSE PER SONS FOR MOVING EXPE NSES AND LOSSES OF P ROPERTY 16
205+FOR WHICH REIMBURSEM ENT OR COMPENSATION IS NOT OTHERWISE MAD E, 17
206+INCLUDING THE MAKING OF PAYMENTS FINANCED BY T HE FEDERAL GOVERNMEN T; 18
223207
224- (II) TO MORTGAGE, PLEDGE, HYPOTHECATE , OR OTHERWISE
225-ENCUMBER THAT PROPER TY; AND Ch. 210 2023 LAWS OF MARYLAND
208+ (3) TO APPROPRIATE WHATEV ER FUNDS AND MAKE WH ATEVER 19
209+EXPENDITURES AS MAY BE NECESSARY TO CARR Y OUT THE PURPOSES O F THIS 20
210+APPENDIX, INCLUDING, BUT NOT LIMITED : 21
226211
227-– 6 –
212+ (I) TO THE PAYMENT OF ANY AND ALL COSTS AND EX PENSES 22
213+INCURRED IN CONNECTI ON WITH, OR INCIDENTAL TO , THE ACQUISITION OF L AND 23
214+OR PROPERTY , AND FOR THE DEMOLITI ON, REMOVAL, RELOCATION , RENOVATION , 24
215+OR ALTERATION OF LAN D, BUILDINGS, STREETS, HIGHWAYS, ALLEYS, UTILITIES, OR 25
216+SERVICES, AND OTHER STRUCTURES OR IMPROVEMENTS , AND FOR THE 26
217+CONSTRUCTION , RECONSTRUCTION , INSTALLATION, RELOCATION, OR REPAIR OF 27
218+STREETS, HIGHWAYS, ALLEYS, UTILITIES, OR SERVICES, IN CONNECTION WITH 28
219+URBAN RENEWAL PROJEC TS; 29
228220
229- (III) TO INSURE OR PROVIDE FOR THE INSURANCE OF THE
230-PROPERTY OR OPERATIO NS OF THE MUNICIPALI TY AGAINST ANY RISKS OR
231-HAZARDS, INCLUDING THE POWER TO PAY PREMIUMS ON A NY INSURANCE ;
221+ (II) TO LEVY TAXES AND ASS ESSMENTS FOR THOSE P URPOSES; 30
232222
233- (5) TO MAKE AND EXECUTE A LL CONTRACTS AND OTH ER
234-INSTRUMENTS NECESSAR Y OR CONVENIENT TO T HE EXERCISE OF ITS P OWERS
235-UNDER THIS APPENDIX , INCLUDING THE POWER TO ENTER INTO AGREEM ENTS WITH
236-OTHER PUBLIC BODIES OR AGENCIES (THESE AGREEMENTS MAY EXTEND OVER ANY
237-PERIOD, NOTWITHSTANDING ANY PROVISION OR RULE OF LAW TO THE CONTRARY ),
238-AND TO INCLUDE IN AN Y CONTRACT FOR FINAN CIAL ASSISTANCE WITH THE
239-FEDERAL GOVERNMENT F OR OR WITH RESPECT T O AN URBAN RENEWAL P ROJECT
240-AND RELATED ACTIVITI ES ANY CONDITIONS IM POSED PURSUANT TO FEDERAL LAWS
241-AS THE MUNICIPALITY CONSIDERS REASONABLE AND APPROPRIATE ;
223+ (III) TO BORROW MONEY AND T O APPLY FOR AND ACCE PT 31
224+ADVANCES, LOANS, GRANTS, CONTRIBUTIONS , AND ANY OTHER FORM O F FINANCIAL 32
225+ASSISTANCE FROM THE FEDERAL GOVERNMENT , THE STATE, COUNTY, OR OTHER 33
226+PUBLIC BODIES, OR FROM ANY SOURCES , PUBLIC OR PRIVATE , FOR THE PURPOSES 34
227+OF THIS APPENDIX , AND TO GIVE WHATEVER SECURITY AS MAY BE R EQUIRED FOR 35
228+THIS FINANCIAL ASSIS TANCE; AND 36 6 SENATE BILL 506
242229
243- (6) TO ENTER INTO ANY BUI LDING OR PROPERTY IN ANY URBAN
244-RENEWAL AREA IN ORDE R TO MAKE INSPECTION S, SURVEYS, APPRAISALS,
245-SOUNDINGS, OR TEST BORINGS , AND TO OBTAIN AN ORD ER FOR THIS PURPOSE FROM
246-THE CIRCUIT COURT FO R THE COUNTY IN WHIC H THE MUNICIPALITY I S SITUATED IN
247-THE EVENT ENTRY IS D ENIED OR RESISTED ;
248230
249- (7) TO PLAN, REPLAN, INSTALL, CONSTRUCT, RECONSTRUCT ,
250-REPAIR, CLOSE, OR VACATE STREETS , ROADS, SIDEWALKS, PUBLIC UTILITIES ,
251-PARKS, PLAYGROUNDS , AND OTHER PUBLIC IMP ROVEMENTS IN CONNECT ION WITH
252-AN URBAN RENEWAL PRO JECT AND TO MAKE EXC EPTIONS FROM BUILDIN G
253-REGULATIONS ;
254231
255- (8) TO GENERALLY ORGANIZE , COORDINATE , AND DIRECT THE
256-ADMINISTRATION OF TH E PROVISIONS OF THIS APPENDIX AS THEY APPLY TO THE
257-MUNICIPALITY IN ORDE R THAT THE OBJECTIVE OF REMEDYING BLIGHTE D AREAS
258-AND PREVENTING ITS C AUSES WITHIN THE MUN ICIPALITY MAY BE PRO MOTED AND
259-ACHIEVED MOST EFFECT IVELY; AND
232+ (IV) TO INVEST ANY URBAN R ENEWAL FUNDS HELD IN RESERVES 1
233+OR SINKING FUNDS OR ANY OF THESE FUNDS N OT REQUIRED FOR IMME DIATE 2
234+DISBURSEMENT IN PROP ERTY OR SECURITIES WHICH ARE LEGAL INVESTMENTS FO R 3
235+OTHER MUNICIPAL FUND S; 4
260236
261- (9) TO EXERCISE ALL OR AN Y PART OR COMBINATIO N OF THE
262-POWERS GRANTED IN THIS APPENDIX.
237+ (4) (I) TO HOLD , IMPROVE, CLEAR, OR PREPARE FOR 5
238+REDEVELOPMENT ANY PR OPERTY ACQUIRED IN C ONNECTION WITH URBAN 6
239+RENEWAL PROJECTS ; 7
263240
264-A1–104. ESTABLISHMENT OF URBA N RENEWAL AGENCY .
241+ (II) TO MORTGAGE , PLEDGE, HYPOTHECATE , OR OTHERWISE 8
242+ENCUMBER THAT PROPERTY ; AND 9
265243
266- (A) A MUNICIPALITY MAY ITS ELF EXERCISE ALL THE POWERS GRANTED BY
267-THIS APPENDIX , OR MAY, IF ITS LEGISLATIVE B ODY BY ORDINANCE DET ERMINES
268-THE ACTION TO BE IN THE PUBLIC INTEREST , ELECT TO HAVE THE POWERS
269-EXERCISED BY A SEPAR ATE PUBLIC BODY OR A GENCY. WES MOORE, Governor Ch. 210
244+ (III) TO INSURE OR PROVIDE FOR THE INSURANCE OF THE 10
245+PROPERTY OR OPERATIO NS OF THE MUNICIPALI TY AGAINST ANY RISKS OR 11
246+HAZARDS, INCLUDING THE POWER TO PAY PREMIUMS ON A NY INSURANCE ; 12
270247
271-– 7 –
248+ (5) TO MAKE AND EXECUTE A LL CONTRACTS AND OTHER 13
249+INSTRUMENTS NECESSAR Y OR CONVENIENT TO T HE EXERCISE OF ITS P OWERS 14
250+UNDER THIS APPENDIX , INCLUDING THE POWER TO ENTER INTO AGREEM ENTS WITH 15
251+OTHER PUBLIC BODIES OR AGENCIES (THESE AGREEMENTS MAY EXTEND OVER ANY 16
252+PERIOD, NOTWITHSTANDING ANY PROVISION OR RU LE OF LAW TO THE CON TRARY), 17
253+AND TO INCLUDE IN AN Y CONTRACT FOR FINAN CIAL ASSISTANCE WITH THE 18
254+FEDERAL GOVERNMENT F OR OR WITH RESPECT T O AN URBAN RENEWAL P ROJECT 19
255+AND RELATED ACTIVITI ES ANY CONDITIONS IM POSED PURSUANT TO FE DERAL LAWS 20
256+AS THE MUNICIPALITY CONSIDERS REASONABLE AND APPROPRIATE ; 21
272257
273- (B) IN THE EVENT THE LEGI SLATIVE BODY MAKES T HAT DETERMINATION ,
274-IT SHALL PROCEED BY ORDINANCE TO ESTABLI SH A PUBLIC BODY OR AGENCY TO
275-UNDERTAKE IN THE MUN ICIPALITY THE ACTIVI TIES AUTHORIZED B Y THIS
276-APPENDIX.
258+ (6) TO ENTER INTO ANY BUI LDING OR PROPERTY IN ANY URBAN 22
259+RENEWAL AREA IN ORDE R TO MAKE INSPECTION S, SURVEYS, APPRAISALS, 23
260+SOUNDINGS, OR TEST BORINGS , AND TO OBTAIN AN ORD ER FOR THIS PURPOSE FROM 24
261+THE CIRCUIT COURT FO R THE COUNTY IN WHICH THE M UNICIPALITY IS SITUA TED IN 25
262+THE EVENT ENTRY IS D ENIED OR RESISTED ; 26
277263
278- (C) THE ORDINANCE SHALL I NCLUDE PROVISIONS ES TABLISHING THE
279-NUMBER OF MEMBERS OF THE PUBLIC BODY OR A GENCY, THE MANNER OF THEIR
280-APPOINTMENT AND REMO VAL, AND THE TERMS OF THE MEMBERS AND THEIR
281-COMPENSATION .
264+ (7) TO PLAN, REPLAN, INSTALL, CONSTRUCT, RECONSTRUCT , 27
265+REPAIR, CLOSE, OR VACATE STREETS , ROADS, SIDEWALKS, PUBLIC UTILITIES , 28
266+PARKS, PLAYGROUNDS , AND OTHER PUBLIC IMP ROVEMENTS IN CONNECTION WITH 29
267+AN URBAN RENEWAL PRO JECT AND TO MAKE EXC EPTIONS FROM BUILDIN G 30
268+REGULATIONS ; 31
282269
283- (D) THE ORDINANCE MAY INC LUDE WHATEVER ADDITIONAL PROVISIONS
284-RELATING TO THE ORGA NIZATION OF THE PUBL IC BODY OR AGENCY AS MAY BE
285-NECESSARY.
270+ (8) TO GENERALLY ORGANIZE , COORDINATE , AND DIRECT THE 32
271+ADMINISTRATION OF TH E PROVISIONS OF THIS APPENDIX AS THEY APP LY TO THE 33
272+MUNICIPALITY IN ORDE R THAT THE OBJECTIVE OF REM EDYING BLIGHTED AREA S 34
273+AND PREVENTING ITS C AUSES WITHIN THE MUN ICIPALITY MAY BE PRO MOTED AND 35 SENATE BILL 506 7
286274
287- (E) IN THE EVENT THE LEGI SLATIVE BODY ENACTS THIS ORDINANCE , ALL
288-OF THE POWERS BY THI S APPENDIX GRANTED T O THE MUNICIPALITY , FROM THE
289-EFFECTIVE DATE OF THE ORDINANC E, ARE VESTED IN THE PU BLIC BODY OR AGENCY
290-ESTABLISHED BY THE O RDINANCE.
291275
292-A1–105. POWERS WITHHELD FROM THE AGENCY.
276+ACHIEVED MOST EFFECT IVELY; AND 1
293277
294- THE AGENCY MAY NOT :
278+ (9) TO EXERCISE ALL OR AN Y PART OR COMBINATIO N OF THE 2
279+POWERS GRANTED IN TH IS APPENDIX. 3
295280
296- (1) PASS A RESOLUTION TO INITIATE AN URBAN RE NEWAL PROJECT
297-PURSUANT TO SECTIONS A1–102 AND A1–103 OF THIS APPENDIX ;
281+A1–104. ESTABLISHMENT OF URBAN RENEWAL AGE NCY. 4
298282
299- (2) ISSUE GENERAL OBLIGAT ION BONDS PURSUANT T O SECTION
300-A1–111 OF THIS APPENDIX ; OR
283+ (A) A MUNICIPALITY MAY ITS ELF EXERCISE ALL THE POWERS GRANTED BY 5
284+THIS APPENDIX , OR MAY, IF ITS LEGISLATIVE B ODY BY ORDINANCE DET ERMINES 6
285+THE ACTION TO BE IN THE PUBLIC INTEREST , ELECT TO HAVE THE PO WERS 7
286+EXERCISED BY A SEPAR ATE PUBLIC BODY OR AGENCY . 8
301287
302- (3) APPROPRIATE FUNDS OR LEVY TAXES AND ASSES SMENTS
303-PURSUANT TO SECTION A1–103(3) OF THIS APPENDIX .
288+ (B) IN THE EVENT THE LEGI SLATIVE BODY MAKES T HAT DETERMINATION , 9
289+IT SHALL PROCEED BY ORDINANCE TO ESTABLI SH A PUBLIC BODY OR AGENCY TO 10
290+UNDERTAKE IN THE MUN ICIPALITY THE ACTIVI TIES AUTHORIZED BY T HIS 11
291+APPENDIX. 12
304292
305-A1–106. INITIATION OF PROJECT .
293+ (C) THE ORDINANCE SHALL INCLUDE PROVISIONS E STABLISHING THE 13
294+NUMBER OF MEMBERS OF THE PUBLIC BODY OR A GENCY, THE MANNER OF THEIR 14
295+APPOINTMENT AND REMO VAL, AND THE TERMS OF THE MEMBERS AND THEIR 15
296+COMPENSATION . 16
306297
307- IN ORDER TO INITIATE AN URBAN RE NEWAL PROJECT , THE LEGISLATIVE
308-BODY OF THE MUNICIPA LITY SHALL ADOPT A R ESOLUTION WHICH :
298+ (D) THE ORDINANCE MAY INC LUDE WHATEVER ADDITI ONAL PROVISIONS 17
299+RELATING TO THE ORGANIZATION OF THE PUBLIC BODY OR A GENCY AS MAY BE 18
300+NECESSARY. 19
309301
310- (1) FINDS THAT ONE OR MOR E BLIGHTED AREAS EXI ST IN THE
311-MUNICIPALITY;
302+ (E) IN THE EVENT THE LEGI SLATIVE BODY ENACTS THIS ORDINANCE , ALL 20
303+OF THE POWERS BY THI S APPENDIX GRANTED T O THE MUNICIPALITY , FROM THE 21
304+EFFECTIVE DATE OF TH E ORDINANCE, ARE VESTED IN THE P UBLIC BODY OR AGENCY 22
305+ESTABLISHED BY THE O RDINANCE. 23
312306
313- (2) LOCATES AND DEFINES T HE BLIGHTED AREA ; AND
314- Ch. 210 2023 LAWS OF MARYLAND
307+A1–105. POWERS WITHHELD FROM THE AGENCY. 24
315308
316-– 8 –
317- (3) FINDS THAT THE REH ABILITATION, REDEVELOPMENT , OR A
318-COMBINATION OF THEM , OF THE AREA OR AREAS , IS NECESSARY AND IN THE
319-INTEREST OF THE PUBL IC HEALTH, SAFETY, MORALS, OR WELFARE OF THE
320-RESIDENTS OF THE MUN ICIPALITY.
309+ THE AGENCY MAY NOT : 25
321310
322-A1–107. PREPARATION AND APPRO VAL OF PLAN FOR URBA N RENEWAL PROJECT.
311+ (1) PASS A RESOLUTION TO INITIATE AN URBAN RE NEWAL PROJECT 26
312+PURSUANT TO SECTIONS A1–102 AND A1–103 OF THIS APPENDIX ; 27
323313
324- (A) IN ORDER TO CARRY OUT THE PURPOSES OF THIS APPENDIX, THE
325-MUNICIPALITY SHALL H AVE PREPARED AN URBA N RENEWAL PLAN FOR B LIGHTED
326-AREAS IN THE MUNICIP ALITY AND SHALL APPR OVE THE PLAN FORMALL Y. THE
327-MUNICIPALITY SHALL H OLD A PUBLIC HEARING ON AN URBAN RENEWAL PROJECT
328-AFTER PUBLIC NOTICE OF IT BY PUBLICATION IN A NEWSPAPER HAVIN G A GENERAL
329-CIRCULATION WITHIN T HE CORPORATE LIMITS OF THE MUNICIPALITY . THE NOTICE
330-SHALL DESCRIBE THE T IME, DATE, PLACE, AND PURPOSE OF THE H EARING, SHALL
331-GENERALLY IDENTIFY THE URBAN RENEWAL AR EA COVERED BY THE PL AN, AND
332-SHALL OUTLINE THE GE NERAL SCOPE OF THE U RBAN RENEWAL PROJECT UNDER
333-CONSIDERATION . FOLLOWING THE HEARING , THE MUNICIPALITY MAY APPROVE AN
334-URBAN RENEWAL PROJEC T AND THE PLAN THERE FOR IF IT FINDS THAT:
314+ (2) ISSUE GENERAL OBLIGAT ION BONDS PURSUANT T O SECTION 28
315+A1–111 OF THIS APPENDIX ; OR 29
335316
336- (1) A FEASIBLE METHOD EXIS TS FOR THE LOCATION OF ANY
337-FAMILIES OR NATURAL PERSONS WHO WILL BE DISPLACED FROM THE U RBAN
338-RENEWAL AREA IN DECE NT, SAFE, AND SANITARY DWELLIN G ACCOMMODATIONS
339-WITHIN THEIR MEANS A ND WITHOUT UNDUE HAR DSHIP TO THE FAMILIE S OR
340-NATURAL PERS ONS;
317+ (3) APPROPRIATE FUNDS OR LEVY TAXES AND ASSES SMENTS 30
318+PURSUANT TO SECTION A1–103(3) OF THIS APPENDIX . 31 8 SENATE BILL 506
341319
342- (2) THE URBAN RENEWAL PLA N CONFORMS SUBSTANTI ALLY TO THE
343-MASTER PLAN OF THE M UNICIPALITY AS A WHO LE; AND
344320
345- (3) THE URBAN RENEWAL PLA N WILL AFFORD MAXIMU M
346-OPPORTUNITY , CONSISTENT WITH THE SOUND NEEDS OF THE M UNICIPALITY AS A
347-WHOLE, FOR THE REHABILI TATION OR REDEVELOPM ENT OF THE URBAN REN EWAL
348-AREA BY PRIVATE ENTE RPRISE.
349321
350- (B) AN URBAN RENEWAL PLAN MAY BE MODIFIED AT A NY TIME. IF
351-MODIFIED AFTER THE L EASE OR SALE OF REAL PROPERTY IN THE URBA N RENEWAL
352-PROJECT AREA , THE MODIFICATION MAY BE CONDITIONED ON WHATEVER
353-APPROVAL OF THE OWNE R, LESSEE, OR SUCCESSOR IN INTE REST AS THE
354-MUNICIPALITY CONSIDE RS ADVISABLE. IN ANY EVENT, IT SHALL BE SUBJECT TO
355-WHATEVER RIGHTS AT L AW OR IN EQUITY AS A LESSEE OR PURCHASER , OR THE
356-SUCCESSOR OR SUCCESS ORS IN INTEREST , MAY BE ENTITLED TO ASSERT . WHERE
357-THE PROPOSED MODIFIC ATION WILL CHANGE SU BSTANTIALLY THE URBA N
358-RENEWAL PLAN AS APPR OVED PREVIOUSLY BY T HE MUNICIPALITY , THE WES MOORE, Governor Ch. 210
322+A1–106. INITIATION OF PROJECT . 1
359323
360-– 9 –
361-MODIFICATION SHALL B E APPROVED FORMALLY BY THE MUNICIPALITY , AS IN THE
362-CASE OF AN ORIGINAL PLAN.
324+ IN ORDER TO INITIATE AN URBAN RENEWAL P ROJECT, THE LEGISLATIVE 2
325+BODY OF THE MUNICIPA LITY SHALL ADOPT A R ESOLUTION WHICH : 3
363326
364- (C) ON THE APPROVAL BY THE MUNICIPALITY OF AN U RBAN RENEWAL PLAN
365-OR OF ANY MODIFICATI ON OF IT, THE PLAN OR MODIFICA TION SHALL BE
366-CONSIDERED TO BE IN FULL FORCE AND EFFEC T FOR THE RESPECTIVE URBAN
367-RENEWAL AREA . THE MUNICIPALITY MAY HAVE THE PLAN OR MOD IFICATION
368-CARRIED OUT IN ACCORDA NCE WITH ITS TERMS .
327+ (1) FINDS THAT ONE OR MOR E BLIGHTED AREAS EXI ST IN THE 4
328+MUNICIPALITY; 5
369329
370-A1–108. DISPOSAL OF PROPERTY IN URBAN RENEWAL ARE A.
330+ (2) LOCATES AND DEFINES T HE BLIGHTED AREA ; AND 6
371331
372- (A) THE MUNICIPALITY , BY ORDINANCE , MAY SELL, LEASE, OR OTHERWISE
373-TRANSFER REAL PROPER TY OR ANY INTEREST I N IT ACQUIRED BY IT FOR AN URBAN
374-RENEWAL PROJECT TO A NY PERSON FOR RESIDENTI AL, RECREATIONAL ,
375-COMMERCIAL , INDUSTRIAL, EDUCATIONAL , OR OTHER USES OR FOR PUBLIC USE, OR
376-IT MAY RETAIN THE PR OPERTY OR INTEREST F OR PUBLIC USE , IN ACCORDANCE
377-WITH THE URBAN RENEW AL PLAN AND SUBJECT TO WHATEVER COVENANT S,
378-CONDITIONS, AND RESTRICTIONS , INCLUDING COVENANTS RUNNING WITH THE
379-LAND, AS IT CONSIDERS NECE SSARY OR DESIRABLE T O ASSIST IN PREVENTI NG THE
380-DEVELOPMENT OR SPREA D OF FUTURE BLIGHTED AREAS OR TO OTHERWIS E CARRY
381-OUT THE PURPOSES OF THIS APPENDIX. THE PURCHASERS OR LES SEES AND THEIR
382-SUCCESSORS AND ASSIG NS SHALL BE OBLIGATE D TO DEVOTE THE REAL PROPERTY
383-ONLY TO THE USES SPE CIFIED IN THE URBAN RENEWAL PLAN AND MAY BE
384-OBLIGATED TO COMPLY WITH WHATEVER OTHER REQUIREMENTS THE
385-MUNICIPALITY DETERMI NES TO BE IN THE PUB LIC INTEREST, INCLUDING THE
386-OBLIGATION TO BEGIN WITHIN A REASONABLE TIME ANY IMPROVEMENT S ON THE
387-REAL PROPERTY REQUIR ED BY THE URBAN RENE WAL PLAN. THE REAL PROPERTY
388-OR INTEREST MAY NOT BE SOLD, LEASED, OTHERWISE TRANSFERRE D, OR RETAINED
389-AT LESS THAN ITS FAI R VALUE FOR USES IN ACCORDANCE W ITH THE URBAN
390-RENEWAL PLAN . IN DETERMINING THE FA IR VALUE OF REAL PRO PERTY FOR USES
391-IN ACCORDANCE WITH T HE URBAN RENEWAL PLA N, THE MUNICIPALITY SHA LL TAKE
392-INTO ACCOUNT AND GIV E CONSIDERATION TO T HE USES PROVIDED IN THE PLAN,
393-THE RESTRIC TIONS ON, AND THE COVENANTS , CONDITIONS, AND OBLIGATIONS
394-ASSUMED BY THE PURCH ASER OR LESSEE OR BY THE MUNICIPALITY RET AINING THE
395-PROPERTY, AND THE OBJECTIVES O F THE PLAN FOR THE P REVENTION OF THE
396-RECURRENCE OF BLIGHT ED AREAS. IN ANY INSTRUMENT OR CONVEYANC E TO A
397-PRIVATE PURCHASER OR LESSEE, THE MUNICIPALITY MAY PROVIDE THAT THE
398-PURCHASER OR LESSEE MAY NOT SELL, LEASE, OR OTHERWISE TRANSFE R THE REAL
399-PROPERTY WITHOUT THE PRIOR WRITTEN CONSEN T OF THE MUNICIPALIT Y UNTIL
400-THE PURCHASER OR LES SEE HAS COMPLETED TH E CONSTRUCTION OF ANY OR ALL
401-IMPROVEMENTS WHICH T HE PURCHASER OR LESS EE HAS BEEN OBLIGATE D TO
402-CONSTRUCT ON THE PRO PERTY. REAL PROPERTY ACQUIRE D BY THE MUNICIPALIT Y
403-WHICH, IN ACCORDANCE WITH T HE PROVISIONS OF THE URBAN RENEWAL PLAN , IS Ch. 210 2023 LAWS OF MARYLAND
332+ (3) FINDS THAT THE REHABI LITATION, REDEVELOPMENT , OR A 7
333+COMBINATION OF THEM , OF THE AREA OR AREAS , IS NECESSARY AND IN THE 8
334+INTEREST OF THE PUBL IC HEALTH, SAFETY, MORALS, OR WELFARE OF THE 9
335+RESIDENTS OF THE MUN ICIPALITY. 10
404336
405-– 10 –
406-TO BE TRANSFERRED , SHALL BE TRANSFERRED AS RAPIDLY AS FEASIBLE IN THE
407-PUBLIC INTEREST CONS ISTENT WITH THE CARR YING OUT OF THE PROV ISIONS OF
408-THE URBAN RENEWAL PL AN. ANY CONTRACT FOR THE TRANSFER AND THE URB AN
409-RENEWAL PLAN (OR ANY PART OR PARTS OF THE CONTRACT OR P LAN AS THE
410-MUNICIPALITY DETERMINES ) MAY BE RECORDED IN T HE LAND RECORDS OF T HE
411-COUNTY IN WHICH THE MUNICIPALITY IS SITU ATED IN A MANNER SO AS TO AFFORD
412-ACTUAL OR CONSTRUCTI VE NOTICE OF IT.
337+A1–107. PREPARATION AND APPRO VAL OF PLAN FOR URBA N RENEWAL PROJECT . 11
413338
414- (B) THE MUNICIPALITY , BY ORDINANCE , MAY DISPOSE OF REAL PROPERTY
415-IN AN URBAN REN EWAL AREA TO PRIVATE PERSONS. THE MUNICIPALITY MAY , BY
416-PUBLIC NOTICE BY PUB LICATION IN A NEWSPA PER HAVING A GENERAL
417-CIRCULATION IN THE C OMMUNITY, INVITE PROPOSALS FRO M AND MAKE AVAILABLE
418-ALL PERTINENT INFORM ATION TO PRIVATE RED EVELOPERS OR ANY PER SONS
419-INTERESTED IN UNDERTAKIN G TO REDEVELOP OR RE HABILITATE AN URBAN
420-RENEWAL AREA , OR ANY PART THEREOF . THE NOTICE SHALL IDEN TIFY THE AREA,
421-OR PORTION THEREOF , AND SHALL STATE THAT PROPOSALS SHALL BE M ADE BY
422-THOSE INTERESTED WIT HIN A SPECIFIED PERI OD. THE MUNICIPAL ITY SHALL
423-CONSIDER ALL REDEVEL OPMENT OR REHABILITA TION PROPOSALS AND T HE
424-FINANCIAL AND LEGAL ABILITY OF THE PERSO NS MAKING PROPOSALS TO CARRY
425-THEM OUT, AND MAY NEGOTIATE WI TH ANY PERSONS FOR P ROPOSALS FOR THE
426-PURCHASE, LEASE, OR OTHER TRANSFER OF ANY REAL PROPERTY ACQUIRED BY
427-THE MUNICIPALITY IN THE URBAN RENEWAL AR EA. THE MUNICIPALITY MAY ACCEPT
428-ANY PROPOSAL AS IT D EEMS TO BE IN THE PU BLIC INTEREST AND IN FURTHERANCE
429-OF THE PURPOSES OF T HIS APPENDIX. THEREAFTER , THE MUNICIPALITY MAY
430-EXECUTE AND DELIVER CONTRACTS, DEEDS, LEASES, AND OTHER INSTRUMENT S
431-AND TAKE ALL STEPS N ECESSARY TO EFFECTUA TE THE TRANSFERS .
339+ (A) IN ORDER TO CARRY OUT THE PURPOS ES OF THIS APPENDIX , THE 12
340+MUNICIPALITY SHALL H AVE PREPARED AN URBA N RENEWAL PLAN FOR B LIGHTED 13
341+AREAS IN THE MUNICIP ALITY AND SHALL APPR OVE THE PLAN FORMALL Y. THE 14
342+MUNICIPALITY SHALL H OLD A PUBLIC HEARING ON AN URBAN RENEWAL PROJECT 15
343+AFTER PUBLIC NOTICE OF IT B Y PUBLICATION IN A N EWSPAPER HAVING A GE NERAL 16
344+CIRCULATION WITHIN T HE CORPORATE LIMITS OF THE MUNICIPALITY . THE NOTICE 17
345+SHALL DESCRIBE THE T IME, DATE, PLACE, AND PURPOSE OF THE H EARING, SHALL 18
346+GENERALLY IDENTIFY T HE URBAN RENEWAL ARE A COVERED BY THE PLAN , AND 19
347+SHALL OUTLINE THE GE NERAL SCOPE OF THE U RBAN RENEWAL PROJECT UNDER 20
348+CONSIDERATION . FOLLOWING THE HEARING , THE MUNICIPALITY MAY APPROVE AN 21
349+URBAN RENEWAL PROJEC T AND THE PLAN THERE FOR IF IT FINDS THAT: 22
432350
433- (C) THE MUNICIPALITY MAY OPERATE TEMPORARILY AND MAINTAIN REAL
434-PROPERTY ACQUIRED BY IT IN AN URBAN RENEW AL AREA FOR OR IN CO NNECTION
435-WITH AN URBAN RENE WAL PROJECT PENDING THE DISPOSITION OF T HE PROPERTY
436-AS AUTHORIZED IN THI S APPENDIX, WITHOUT REGARD TO TH E PROVISIONS OF
437-SUBSECTION (A) OF THIS SECTION , FOR USES AND PURPOSE S CONSIDERED
438-DESIRABLE EVEN THOUG H NOT IN CONFORMITY WITH THE URBAN RENEW AL PLAN.
351+ (1) A FEASIBLE METHOD EXIS TS FOR THE LOCATION OF ANY 23
352+FAMILIES OR NATURAL PERSONS WHO WILL BE DISPLACED FROM THE U RBAN 24
353+RENEWAL AREA IN DECE NT, SAFE, AND SANITARY DWELLIN G ACCOMMODATIONS 25
354+WITHIN THEIR MEANS A ND WITHOUT UNDUE HAR DSHIP TO THE FAMILIE S OR 26
355+NATURAL PERSONS ; 27
439356
440- (D) ANY INSTRUMENT EXECUT ED BY THE MUNICIPALI TY AND PURPORTING
441-TO CONVEY ANY RIGHT , TITLE, OR INTEREST IN ANY P ROPERTY UNDER THIS
442-APPENDIX SHALL BE PR ESUMED CONCLUSIVELY TO HAVE BEEN EXECUTE D IN
443-COMPLIANCE WITH THE PROVISIONS OF THIS A PPENDIX INSOFAR AS T ITLE OR
444-OTHER INTEREST OF AN Y BONA FIDE PURCHASE RS, LESSEES, OR TRANSFEREES OF
445-THE PROPERTY IS CONC ERNED.
357+ (2) THE URBAN RENEW AL PLAN CONFORMS SUB STANTIALLY TO THE 28
358+MASTER PLAN OF THE M UNICIPALITY AS A WHO LE; AND 29
446359
447-A1–109. EMINENT DOMAIN . WES MOORE, Governor Ch. 210
360+ (3) THE URBAN RENEWAL PLA N WILL AFFORD MAXIMU M 30
361+OPPORTUNITY , CONSISTENT WITH THE SOUND NEEDS OF THE M UNICIPALITY AS A 31
362+WHOLE, FOR THE REHABILITATI ON OR REDEVELOPMENT OF THE URBAN RENEWAL 32
363+AREA BY PRIVATE ENTE RPRISE. 33 SENATE BILL 506 9
448364
449-– 11 –
450365
451- CONDEMNATION OF LAND OR PROPERTY UNDER TH E PROVISIONS OF THIS
452-APPENDIX SHALL BE IN ACCORDANCE WITH THE PROCEDURE PROVIDED I N THE
453-REAL PROPERTY ARTICLE OF THE ANNOTATED CODE OF MARYLAND.
454366
455-A1–110. ENCOURAGEMENT OF PRIV ATE ENTERPRISE .
367+ (B) AN URBAN RENEWAL PLAN MAY BE MODIFIED AT A NY TIME. IF 1
368+MODIFIED AFTER THE L EASE OR SALE OF REAL PROPERTY IN THE URBA N RENEWAL 2
369+PROJECT AREA , THE MODIFICATION MAY BE CONDITIONED ON WH ATEVER 3
370+APPROVAL OF THE O WNER, LESSEE, OR SUCCESSOR IN INTE REST AS THE 4
371+MUNICIPALITY CONSIDE RS ADVISABLE. IN ANY EVENT, IT SHALL BE SUBJECT TO 5
372+WHATEVER RIGHTS AT L AW OR IN EQUITY AS A LESSEE OR PURCHASER , OR THE 6
373+SUCCESSOR OR SUCCESS ORS IN INTEREST , MAY BE ENTITLED TO A SSERT. WHERE 7
374+THE PROPOSED MODIFIC ATION WILL CHANGE SU BSTANTIALLY THE URBA N 8
375+RENEWAL PLAN AS APPR OVED PREVIOUSLY BY T HE MUNICIPALITY , THE 9
376+MODIFICATION SHALL B E APPROVED FORMALLY BY THE MUNICIPALITY , AS IN THE 10
377+CASE OF AN ORIGINAL PLAN. 11
456378
457- THE MUNICIPALITY , TO THE EXTENT IT DET ERMINES TO BE FEASIB LE IN
458-CARRYING OUT THE PRO VISIONS OF THIS APPE NDIX, SHALL AFFORD MAXIMUM
459-OPPORTUNITY TO THE REHABILITATION O R REDEVELOPMENT OF A NY URBAN
460-RENEWAL AREA BY PRIV ATE ENTERPRISE CONSI STENT WITH THE SOUND NEEDS OF
461-THE MUNICIPALITY AS A WHOLE. THE MUNICIPALITY SHAL L GIVE CONSIDERATION
462-TO THIS OBJECTIVE IN EXERCISING ITS POWER S UNDER THIS APPENDI X.
379+ (C) ON THE APPROVAL BY TH E MUNICIPALITY OF AN URBAN RE NEWAL PLAN 12
380+OR OF ANY MODIFICATI ON OF IT, THE PLAN OR MODIFICA TION SHALL BE 13
381+CONSIDERED TO BE IN FULL FORCE AND EFFEC T FOR THE RESPECTIVE URBAN 14
382+RENEWAL AREA . THE MUNICIPALITY MAY HAVE THE PLAN OR MOD IFICATION 15
383+CARRIED OUT IN ACCOR DANCE WITH ITS TERMS. 16
463384
464-A1–111. GENERAL OBLIGATION BO NDS.
385+A1–108. DISPOSAL OF PROPERTY IN URBAN RENEWAL ARE A. 17
465386
466- FOR THE PURPOSE OF FI NANCING AND CARRYING OUT AN URBAN RENEWAL
467-PROJECT AND RELATED ACTIVITIES, THE MUNICIPALITY MAY ISSUE AND SELL ITS
468-GENERAL OBLIGATION B ONDS. ANY BONDS ISSUED BY T HE MUNICIPALITY
469-PURSUANT TO THIS SEC TION SHALL BE ISSUED IN THE MANNER AND WITHI N THE
470-LIMITATIONS PRESCRIB ED BY APPLICABLE LAW FOR THE ISSUANCE AND
471-AUTHORIZATION OF GEN ERAL OBLIGATION BOND S BY THE MUNICIPALIT Y, AND
472-ALSO WITHIN LIMITATI ONS DETERMINED BY TH E MUNICIPALITY.
387+ (A) THE MUNICIPALITY , BY ORDINANCE , MAY SELL, LEASE, OR OTHERWISE 18
388+TRANSFER REAL PROPER TY OR ANY INTEREST I N IT ACQUIRED BY IT FOR AN URBAN 19
389+RENEWAL PROJECT TO A NY PERSON FOR RESIDE NTIAL, RECREATIONAL, 20
390+COMMERCIAL , INDUSTRIAL, EDUCATIONAL , OR OTHER USES OR FOR PUBLIC USE, OR 21
391+IT MAY RETAIN THE PR OPERTY OR INTEREST F OR PUBLIC USE , IN ACCORDANCE 22
392+WITH THE URBAN RENEW AL PLAN AND SUBJECT TO WHATEVER COVENANT S, 23
393+CONDITIONS, AND RESTRICTIONS , INCLUDING COVENANTS RUNNING WI TH THE 24
394+LAND, AS IT CONSIDERS NECE SSARY OR DESIRABLE T O ASSIST IN PREVENTI NG THE 25
395+DEVELOPMENT OR SPREA D OF FUTURE BLIGHTED AREAS OR TO OTHERWIS E CARRY 26
396+OUT THE PURPOSES OF THIS APPENDIX. THE PURCHASERS OR LES SEES AND THEIR 27
397+SUCCESSORS AND ASSIGNS SHALL BE OBL IGATED TO DEVOTE THE REAL PROPERTY 28
398+ONLY TO THE USES SPE CIFIED IN THE URBAN RENEWAL PLAN AND MAY BE 29
399+OBLIGATED TO COMPLY WITH WHATEVER OTHER REQUIREMENTS THE 30
400+MUNICIPALITY DETERMI NES TO BE IN THE PUB LIC INTEREST, INCLUDING THE 31
401+OBLIGATION T O BEGIN WITHIN A REA SONABLE TIME ANY IMP ROVEMENTS ON THE 32
402+REAL PROPERTY REQUIR ED BY THE URBAN RENE WAL PLAN. THE REAL PROPERTY 33
403+OR INTEREST MAY NOT BE SOLD, LEASED, OTHERWISE TRANSFERRE D, OR RETAINED 34
404+AT LESS THAN ITS FAI R VALUE FOR USES IN ACCORDANCE WITH THE URBAN 35
405+RENEWAL PLAN . IN DETERMINING THE FA IR VALUE OF REAL PRO PERTY FOR USES 36
406+IN ACCORDANCE WITH T HE URBAN RENEWAL PLA N, THE MUNICIPALITY SHA LL TAKE 37
407+INTO ACCOUNT AND GIV E CONSIDERATION TO T HE USES PROVIDED IN THE PLAN, 38
408+THE RESTRICTIONS ON , AND THE COVENANTS , CONDITIONS, AND OBLIGATIONS 39 10 SENATE BILL 506
473409
474-A1–112. REVENUE BONDS .
475410
476- (A) IN ADDITION TO THE AU THORITY CONFERRED BY SECTION A1–111 OF
477-THIS APPENDIX, THE MUNICIPALITY MAY ISSUE REVENUE BONDS TO FINANCE THE
478-UNDERTAKING OF ANY U RBAN RENEWAL PROJECT AND RELATED ACTIVITI ES. ALSO,
479-IT MAY ISSUE REFUNDI NG BONDS FOR THE PAY MENT OR RETIREMENT OF THE
480-BONDS ISSUED PREVIOU SLY BY IT. THE BONDS SHALL BE MA DE PAYABLE, AS TO
481-BOTH PRINCIPAL AND I NTEREST, SOLELY FROM THE INCO ME, PROCEEDS,
482-REVENUES, AND FUNDS OF THE MUN ICIPALITY DERIVED FR OM OR HELD IN
483-CONNECTION WITH THE UNDERTAKING AND CARR YING OUT OF URBAN REN EWAL
484-PROJECTS UNDER THIS APPENDIX. HOWEVER, PAYMENT OF THE BONDS , BOTH AS
485-TO PRINCIPAL AND INT EREST, MAY BE FURTHER SECUR ED BY A PLEDGE OF AN Y
486-LOAN, GRANT, OR CONTRIBUTION FROM THE FEDERAL GOVERNME NT OR OTHER
487-SOURCE, IN AID OF ANY URBAN RENEWAL PROJECTS OF THE MUNICIPALITY UND ER
488-THIS APPENDIX, AND BY A MORTGAGE OF ANY URBAN RENEWAL PR OJECT, OR ANY
489-PART OF A PROJECT , TITLE TO WHICH IS IN THE MUNICIPALITY . IN ADDITION, THE
490-MUNICIPALITY MAY ENT ER INTO AN INDENTURE OF TRUST WITH ANY PR IVATE
491-BANKING INSTITUTION OF THIS STATE HAVING TRUST PO WERS AND MAY MAKE IN
492-THE INDENTURE OF TRU ST COVENANTS AND COM MITMENTS REQUIRED BY ANY Ch. 210 2023 LAWS OF MARYLAND
411+ASSUMED BY THE PURCH ASER OR LESSEE OR BY THE MUNICIPALITY RET AINING THE 1
412+PROPERTY, AND THE OBJECTIVES O F THE PLAN FOR THE P REVENTION OF THE 2
413+RECURRENCE OF BLIGHT ED AREAS. IN ANY INSTRUMENT OR CONVEYANCE TO A 3
414+PRIVATE PURCHASER OR LESSEE, THE MUNICIPALITY MAY PROVIDE THAT THE 4
415+PURCHASER OR LESSEE MAY NOT SELL, LEASE, OR OTHERWISE TRANSFE R THE REAL 5
416+PROPERTY WITHOUT THE PRIOR WRITTEN CONSEN T OF THE MUNICIPALIT Y UNTIL 6
417+THE PURCHASER OR LES SEE HAS COMPLETED TH E CONSTRUCTION OF AN Y OR ALL 7
418+IMPROVEMENTS WHICH T HE PURCHASER OR LESS EE HAS BEEN OBLIGATE D TO 8
419+CONSTRUCT ON THE PRO PERTY. REAL PROPERTY ACQUIRE D BY THE MUNICIPALIT Y 9
420+WHICH, IN ACCORDANCE WITH T HE PROVISIONS OF THE URBAN RENEWAL PLAN , IS 10
421+TO BE TRANSFERRED , SHALL BE TRANSFERRED AS RAPIDLY AS FEASIBLE IN THE 11
422+PUBLIC INTEREST CONS ISTENT WITH THE CARR YING OUT OF THE PROV ISIONS OF 12
423+THE URBAN RENEWAL PL AN. ANY CONTRACT FOR THE TRANSFER AND THE URB AN 13
424+RENEWAL PLAN (OR ANY PART OR PARTS OF THE CONTRACT OR P LAN AS THE 14
425+MUNICIPALITY DETERMI NES) MAY BE RECORDED IN THE LAND RECORDS OF THE 15
426+COUNTY IN WHICH THE MUNICIPALITY IS SITU ATED IN A MANNER SO AS TO AFFORD 16
427+ACTUAL OR CONSTRUCTI VE NOTICE OF IT. 17
493428
494-– 12 –
495-PURCHASER FOR THE AD EQUATE SECURITY OF T HE BONDS.
429+ (B) THE MUNICIPALITY , BY ORDINANCE , MAY DISPOSE OF REAL PROPERTY 18
430+IN AN URBAN RENEWAL AREA TO PRIVATE PERS ONS. THE MUNICIPALITY MAY , BY 19
431+PUBLIC NOTICE BY PUB LICATION IN A NEWSPA PER HAVING A GENERAL 20
432+CIRCULATION IN THE C OMMUNITY, INVITE PROPOSALS FRO M AND MAKE AVAILABLE 21
433+ALL PERTINENT INFORM ATION TO PRIVATE RED EVELOPERS OR ANY PER SONS 22
434+INTERESTED IN UNDERT AKING TO RE DEVELOP OR REHABILIT ATE AN URBAN 23
435+RENEWAL AREA , OR ANY PART THEREOF . THE NOTICE SHALL IDEN TIFY THE AREA, 24
436+OR PORTION THEREOF , AND SHALL STATE THAT PROPOSALS SHALL BE M ADE BY 25
437+THOSE INTERESTED WIT HIN A SPECIFIED PERI OD. THE MUNICIPALITY SHAL L 26
438+CONSIDER ALL REDE VELOPMENT OR REHABIL ITATION PROPOSALS AN D THE 27
439+FINANCIAL AND LEGAL ABILITY OF THE PERSO NS MAKING PROPOSALS TO CARRY 28
440+THEM OUT, AND MAY NEGOTIATE WI TH ANY PERSONS FOR P ROPOSALS FOR THE 29
441+PURCHASE, LEASE, OR OTHER TRANSFER OF ANY REAL PROPERTY AC QUIRED BY 30
442+THE MUNICIPALITY IN THE UR BAN RENEWAL AREA . THE MUNICIPALITY MAY ACCEPT 31
443+ANY PROPOSAL AS IT D EEMS TO BE IN THE PU BLIC INTEREST AND IN FURTHERANCE 32
444+OF THE PURPOSES OF T HIS APPENDIX. THEREAFTER , THE MUNICIPALITY MAY 33
445+EXECUTE AND DELIVER CONTRACTS, DEEDS, LEASES, AND OTHER INSTRUMENTS 34
446+AND TAKE ALL STEPS N ECESSARY TO EFFECTUA TE THE TRANSFERS . 35
496447
497- (B) BONDS ISSUED UNDER TH IS SECTION DO NOT CO NSTITUTE AN
498-INDEBTEDNESS WITHIN THE MEANING O F ANY CONSTITUTIONAL OR STATUTORY
499-DEBT LIMITATION OR R ESTRICTION, ARE NOT SUBJECT TO T HE PROVISIONS OF ANY
500-OTHER LAW OR CHARTER RELATING TO THE AUTH ORIZATION, ISSUANCE, OR SALE
501-OF BONDS , AND ARE EXEMPTED SPE CIFICALLY FROM THE R ESTRICTIONS
502-CONTAINED IN §§ 19–205 AND 19–206 OF THE LOCAL GOVERNMENT ARTICLE OF
503-THE ANNOTATED CODE OF MARYLAND. BONDS ISSUED UNDER TH E PROVISIONS OF
504-THIS APPENDIX ARE DE CLARED TO BE ISSUED FOR AN ESSENTIAL PUB LIC AND
505-GOVERNMENTAL PURPOSE AND, TOGETHER WITH INTERE ST ON THEM AND INCOM E
506-FROM THEM, ARE EXEMPT FROM ALL TAXES.
448+ (C) THE MUNICIPALITY MAY OPERATE TEMPORARILY AND MAINTAIN REAL 36
449+PROPERTY ACQUIRED BY IT IN AN URBAN RENEW AL AREA FOR OR IN CO NNECTION 37
450+WITH AN URBAN RENEWA L PROJECT PENDING TH E DISPOSITION OF THE PROP ERTY 38
451+AS AUTHORIZED IN THI S APPENDIX, WITHOUT REGARD TO TH E PROVISIONS OF 39
452+SUBSECTION (A) OF THIS SECTION , FOR USES AND PURPOSE S CONSIDERED 40
453+DESIRABLE EVEN THOUG H NOT IN CONFORMITY WITH THE URBAN RENEW AL PLAN. 41 SENATE BILL 506 11
507454
508- (C) BONDS ISSUED UNDER TH IS SECTION SHALL BE AUTHORIZED BY
509-RESOLUTION OR ORDINA NCE OF THE LEGISLATI VE BODY OF THE MUNIC IPALITY.
510-THEY MAY BE ISSUED IN ONE OR MORE SERIES A ND SHALL:
511455
512- (1) BEAR A DATE OR DATES ;
513456
514- (2) MATURE AT A TIME OR T IMES;
457+ (D) ANY INSTRUMENT EXECUT ED BY THE MUNICIPALITY AND PURPORTING 1
458+TO CONVEY ANY RIGHT , TITLE, OR INTEREST IN ANY P ROPERTY UNDER THIS 2
459+APPENDIX SHALL BE PR ESUMED CONCLUSIVELY TO HAVE BEEN EXECUTE D IN 3
460+COMPLIANCE WITH THE PROVISIONS OF THIS A PPENDIX INSOFAR AS T ITLE OR 4
461+OTHER INTEREST OF AN Y BONA FIDE PURCHASE RS, LESSEES, OR TRANSFEREES OF 5
462+THE PROPERTY IS CONC ERNED. 6
515463
516- (3) BEAR INTEREST AT A RA TE OR RATES;
464+A1–109. EMINENT DOMAIN . 7
517465
518- (4) BE IN A DENOMINATION OR DENOMINATIONS ;
466+ CONDEMNATION OF LAND OR PROPERTY UNDER TH E PROVISIONS OF THIS 8
467+APPENDIX SHALL BE IN ACCORDANCE WITH THE PROCEDURE PROVIDED I N THE 9
468+REAL PROPERTY ARTICLE OF THE ANNOTATED CODE OF MARYLAND. 10
519469
520- (5) BE IN A FORM EITHER W ITH OR WITHOUT COUPO N OR
521-REGISTERED;
470+A1–110. ENCOURAGEMENT OF PRIV ATE ENTERPRISE . 11
522471
523- (6) CARRY A CONVERSION OR REGISTRATION PRIVILE GE;
472+ THE MUNICIPALITY , TO THE EXTENT IT DET ERMINES TO BE FEASIB LE IN 12
473+CARRYING OUT THE PRO VISIONS OF THIS APPE NDIX, SHALL AFFORD MAXIMUM 13
474+OPPORTUNITY TO THE R EHABILITATION OR RED EVELOPMENT OF ANY URBA N 14
475+RENEWAL AREA BY PRIV ATE ENTERPRISE CONSI STENT WITH THE SOUND NEEDS OF 15
476+THE MUNICIPALITY AS A WHOLE. THE MUNICIPALITY SHAL L GIVE CONSIDERATION 16
477+TO THIS OBJECTIVE IN EXERCISING ITS POWER S UNDER THIS APPENDI X. 17
524478
525- (7) HAVE A RANK OR PRIORI TY;
479+A1–111. GENERAL OBLIGATION B ONDS. 18
526480
527- (8) BE EXECUTED IN A MANN ER;
481+ FOR THE PURPOSE OF FI NANCING AND CARRYING OUT AN URBAN RENEWAL 19
482+PROJECT AND RELATED ACTIVITIES, THE MUNICIPALITY MAY ISSUE AND SELL ITS 20
483+GENERAL OBLIGATION B ONDS. ANY BONDS ISSUED BY T HE MUNICIPALITY 21
484+PURSUANT TO THIS SEC TION SHALL BE ISSUED IN THE MANNER AND WITHIN THE 22
485+LIMITATIONS PRESCRIB ED BY APPLICABLE LAW FOR THE ISSUANCE AND 23
486+AUTHORIZATION OF GEN ERAL OBLIGATION BOND S BY THE MUNICIPALIT Y, AND 24
487+ALSO WITHIN LIMITATI ONS DETERMINED BY TH E MUNICIPALITY. 25
528488
529- (9) BE PAYABLE IN A MEDIU M OF PAYMENT , AT A PLACE OR PLACES ,
530-AND BE SUBJECT TO TE RMS OF REDEMPTION (WITH OR WITHOUT PREM IUM);
489+A1–112. REVENUE BONDS . 26
531490
532- (10) BE SECURED IN A MANNE R; AND
491+ (A) IN ADDITION TO THE AU THORITY CONFERRED BY SECTION A1–111 OF 27
492+THIS APPENDIX, THE MUNICIPALITY MAY ISSUE REVENUE BONDS TO FINANCE THE 28
493+UNDERTAKING OF ANY U RBAN RENEWAL PROJECT AND RELATED ACTIVITI ES. ALSO, 29
494+IT MAY ISSUE REFUNDI NG BONDS FOR THE PAY MENT OR RETIREMENT O F THE 30
495+BONDS ISSUED PREVIOUSLY BY IT . THE BONDS SHALL BE MA DE PAYABLE, AS TO 31
496+BOTH PRINCIPAL AND I NTEREST, SOLELY FROM THE INCO ME, PROCEEDS, 32
497+REVENUES, AND FUNDS OF THE MUN ICIPALITY DERIVED FR OM OR HELD IN 33
498+CONNECTION WITH THE UNDERTAKING AND CARR YING OUT OF URBAN RE NEWAL 34 12 SENATE BILL 506
533499
534- (11) HAVE OTHER CHARACTERISTICS , AS ARE PROVIDED BY T HE
535-RESOLUTION, TRUST INDENTURE , OR MORTGAGE ISSUED P URSUANT TO IT.
536- WES MOORE, Governor Ch. 210
537500
538-– 13 –
539- (D) THESE BONDS MAY NOT B E SOLD AT LESS THAN PAR VALUE AT PUBLIC
540-SALES WHICH ARE HELD AFTER NOTICE IS PUBL ISHED PRIOR TO THE S ALE IN A
541-NEWSPAPER HAVIN G A GENERAL CIRCULAT ION IN THE AREA IN W HICH THE
542-MUNICIPALITY IS LOCA TED AND IN WHATEVER OTHER MEDIUM OF PUBL ICATION AS
543-THE MUNICIPALITY MAY DETERMINE. THE BONDS MAY BE EXCH ANGED ALSO FOR
544-OTHER BONDS ON THE B ASIS OF PAR. HOWEVER, THE BONDS MAY NOT BE SOLD TO
545-THE FEDERAL GOVERNME NT AT PRIVATE SALE A T LESS THAN PAR , AND, IN THE
546-EVENT LESS THAN ALL OF THE AUTHORIZED PR INCIPAL AMOUNT OF TH E BONDS IS
547-SOLD TO THE FEDERAL GOVERNMENT , THE BALANCE MAY NOT BE SOLD AT PRIVATE
548-SALE AT LESS THAN PA R AT AN INTEREST COS T TO THE MUNICIPALITY WHICH DOES
549-NOT EXCEED THE INTER EST COST TO THE MUNI CIPALITY OF THE PORT ION OF THE
550-BONDS SOLD TO THE FE DERAL GOVERNMENT .
501+PROJECTS UNDER THIS AP PENDIX. HOWEVER, PAYMENT OF THE BONDS , BOTH AS 1
502+TO PRINCIPAL AND INT EREST, MAY BE FURTHER SECUR ED BY A PLEDGE OF AN Y 2
503+LOAN, GRANT, OR CONTRIBUTION FROM THE FEDERAL GOVERNME NT OR OTHER 3
504+SOURCE, IN AID OF ANY URBAN RENEWAL PROJECTS OF THE MUNICIPALITY UNDER 4
505+THIS APPENDIX, AND BY A MORTGAGE OF ANY URBAN RENEWAL PR OJECT, OR ANY 5
506+PART OF A PROJECT , TITLE TO WHICH IS IN THE MUNICIPALITY . IN ADDITION, THE 6
507+MUNICIPALITY MAY ENT ER INTO AN INDENTURE OF TRUST WITH ANY PR IVATE 7
508+BANKING INSTITUTION OF THIS STATE HAVING TRUST PO WERS AND MAY MAKE IN 8
509+THE INDENTURE OF TRU ST COVENANTS AND COM MITMENTS REQUIRED BY ANY 9
510+PURCHASER FOR THE AD EQUATE SECURITY OF T HE BONDS. 10
551511
552- (E) IN CASE ANY OF THE PU BLIC OFFICIALS OF TH E MUNICIPALITY WHOSE
553-SIGNATURES APPEAR ON ANY BONDS OR COUPONS ISSUED UNDER THIS APPENDIX
554-CEASE TO BE OFFICIAL S OF THE MUNICIPALIT Y BEFORE THE DELIVER Y OF THE
555-BONDS OR IN THE EVEN T ANY OF THE OFFICIA LS HAVE BECOME SUCH AFTER THE
556-DATE OF ISSUE OF THE M, THE BONDS ARE VALID AND BINDING OBLIGATI ONS OF THE
557-MUNICIPALITY IN ACCO RDANCE WITH THEIR TERM S. ANY PROVISION OF ANY LAW
558-TO THE CONTRARY NOTW ITHSTANDING, ANY BONDS ISSUED PUR SUANT TO THIS
559-APPENDIX ARE FULLY N EGOTIABLE.
512+ (B) BONDS ISSUED UNDER TH IS SECTION DO NOT CO NSTITUTE AN 11
513+INDEBTEDNESS WITHIN THE MEANING OF ANY CONSTITUTIONAL OR ST ATUTORY 12
514+DEBT LIMITATION OR R ESTRICTION, ARE NOT SUBJECT TO T HE PROVISIONS OF ANY 13
515+OTHER LAW OR CHARTER RELATING TO THE AUTH ORIZATION, ISSUANCE, OR SALE 14
516+OF BONDS , AND ARE EXEMPTED SPE CIFICALLY FROM THE R ESTRICTIONS 15
517+CONTAINED IN §§ 19–205 AND 19–206 OF THE LOCAL GOVERNMENT ARTICLE OF 16
518+THE ANNOTATED CODE OF MARYLAND. BONDS ISSUED UNDER TH E PROVISIONS OF 17
519+THIS APPENDIX ARE DE CLARED TO BE ISSUED FOR AN ESSENTIAL PUB LIC AND 18
520+GOVERNMENTAL PURPOSE AND, TOGETHER WITH INTERE ST ON THEM AND INCOM E 19
521+FROM THEM, ARE EXEMPT FROM ALL TAXES. 20
560522
561- (F) IN ANY SUIT, ACTION, OR PROCEEDING INVOLV ING THE VALIDITY OR
562-ENFORCEABILITY OF AN Y BOND ISSUED UNDER THIS APPENDIX, OR THE SECURITY
563-FOR IT, ANY BOND WHICH RECIT ES IN SUBSTANCE THAT IT HAS BEEN ISSUED B Y THE
564-MUNICIPALITY IN CONN ECTION WITH AN URBAN RENEWAL PROJECT SHAL L BE
565-CONSIDERED CONCLUSIV ELY TO HAVE BEEN ISS UED FOR THAT PURPOSE , AND THE
566-PROJECT SHALL BE CONSIDERED CONCLUSIV ELY TO HAVE BEEN PLA NNED,
567-LOCATED, AND CARRIED OUT IN A CCORDANCE WITH THE P ROVISIONS OF THIS
568-APPENDIX.
523+ (C) BONDS ISSUED UNDER TH IS SECTION SHALL BE AUTHORIZED BY 21
524+RESOLUTION OR ORDINA NCE OF THE LEGISLATI VE BODY OF THE MUNIC IPALITY. 22
525+THEY MAY BE ISSUED IN ONE OR MORE SERIES A ND SHALL: 23
569526
570- (G) ALL BANKS, TRUST COMPANIES , BANKERS, SAVINGS BANKS , AND
571-INSTITUTIONS, BUILDING AND LOAN AS SOCIATIONS, SAVINGS AND LOAN
572-ASSOCIATIONS, INVESTMENT COMPANIES , AND OTHER PERSONS CA RRYING ON A
573-BANKING OR INVESTMEN T BUSINESS; ALL INSURANCE COMPAN IES, INSURANCE
574-ASSOCIATIONS, AND OTHER PERSONS CA RRYING ON AN INSURAN CE BUSINESS; AND
575-ALL EXECUTORS , ADMINISTRATORS , CURATORS, TRUSTEES, AND OTH ER
576-FIDUCIARIES, MAY LEGALLY INVEST A NY SINKING FUNDS , MONEYS, OR OTHER
577-FUNDS BELONGING TO T HEM OR WITHIN THEIR CONTROL IN ANY BONDS OR OTHER
578-OBLIGATIONS ISSUED B Y THE MUNICIPALITY P URSUANT TO THIS APPE NDIX.
579-HOWEVER, THE BONDS AND OTHER OBLIGATIONS SHALL BE SECURED BY AN
580-AGREEMENT BETWEEN TH E ISSUER AND THE FED ERAL GOVERNMENT IN W HICH THE
581-ISSUER AGREES TO BOR ROW FROM THE FEDERAL GOVERNMENT AND THE F EDERAL Ch. 210 2023 LAWS OF MARYLAND
527+ (1) BEAR A DATE OR DATES ; 24
582528
583-– 14 –
584-GOVERNMENT AGREES TO LEND TO THE ISSUER , PRIOR TO THE MATURIT Y OF THE
585-BONDS OR OTHER OBLIG ATIONS, MONEYS IN AN AMOUNT WHICH (TOGETHER WITH
586-ANY OTHER MONEYS COM MITTED IRREVOCABLY T O THE PAYMENT OF PRI NCIPAL
587-AND INTEREST ON THE BONDS OR OTHER OBLIG ATIONS) WILL SUFFICE TO PAY THE
588-PRINCIPAL OF THE BON DS OR OTHER OBLIGATI ONS WITH INTEREST TO MATURITY
589-ON THEM. THE MONEYS UNDER THE TER MS OF THE AGREEMENT SHALL BE
590-REQUIRED TO BE USED FOR THE PURPOSE OF P AYING THE PRINCIPAL OF AND THE
591-INTEREST ON THE BOND S OR OTHER OBLIGATIO NS AT THEIR MATURITY . THE BONDS
592-AND OTHER OBLIGATION S SHALL BE AUTHORIZE D SECURITY FOR ALL P UBLIC
593-DEPOSITS. THIS SECTION AUTHORIZ ES ANY PERSONS OR PU BLIC OR PRIVATE
594-POLITICAL SUBDIVISIO NS AND OFFICERS TO U SE ANY FUNDS OWNED O R
595-CONTROLLED BY THEM F OR THE PURCHASE OF A NY BONDS OR OTHER
596-OBLIGATIONS. WITH REGARD TO LEGAL INVESTMENTS , THIS SECTION MAY NO T BE
597-CONSTRUED TO RELIEVE ANY PERSON OF ANY DU TY OF EXERCISING REA SONABLE
598-CARE IN SELECTING SE CURITIES.
529+ (2) MATURE AT A TIME OR T IMES; 25
599530
600-A1–113. SHORT TITLE.
531+ (3) BEAR INTEREST AT A RA TE OR RATES; 26
601532
602- THIS APPENDIX SHALL B E KNOWN AND MAY BE C ITED AS THE FOREST
603-HEIGHTS URBAN RENEWAL AUTHORITY FOR BLIGHT CLEARANCE ACT.
533+ (4) BE IN A DENOMINATION OR DENOMINATIONS ; 27
604534
605-A1–114. AUTHORITY TO AMEND OR REPEAL.
535+ (5) BE IN A FORM EITHER W ITH OR WITHOUT COUPO N OR 28
536+REGISTERED; 29
606537
607- THIS APPENDIX, ENACTED PURSUANT TO ARTICLE III, SECTION 61 OF THE
608-MARYLAND CONSTITUTION, MAY BE AMENDED OR RE PEALED ONLY BY THE
609-GENERAL ASSEMBLY OF MARYLAND.
538+ (6) CARRY A CONVERSION OR REGISTRATION PRIVILE GE; 30
610539
611- SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
612-October 1, 2023.
540+ (7) HAVE A RANK OR PRIORITY; 31
613541
614-Approved by the Governor, April 24, 2023.
542+ (8) BE EXECUTED IN A MANN ER; 32
543+ SENATE BILL 506 13
544+
545+
546+ (9) BE PAYABLE IN A MEDIU M OF PAYMENT , AT A PLACE OR PLACES , 1
547+AND BE SUBJECT TO TE RMS OF REDEMPTION (WITH OR WITHOUT PREM IUM); 2
548+
549+ (10) BE SECURED IN A MANNE R; AND 3
550+
551+ (11) HAVE OTHER CHARACTERI STICS, AS ARE PROVID ED BY THE 4
552+RESOLUTION, TRUST INDENTURE , OR MORTGAGE ISSUED P URSUANT TO IT. 5
553+
554+ (D) THESE BONDS MAY NOT B E SOLD AT LESS THAN PAR VALUE AT PUBLIC 6
555+SALES WHICH ARE HELD AFTER NOTICE IS PUBL ISHED PRIOR TO THE S ALE IN A 7
556+NEWSPAPER HAVING A G ENERAL CIRCULATION I N THE AREA IN WHICH THE 8
557+MUNICIPALITY IS LOCA TED AND IN WHATEVER OTHER MEDIUM OF PUBL ICATION AS 9
558+THE MUNICIPALITY MAY DETERMINE. THE BONDS MAY BE EXCH ANGED ALSO FOR 10
559+OTHER BONDS ON THE B ASIS OF PAR. HOWEVER, THE BONDS MAY NOT BE SOLD TO 11
560+THE FEDERAL GOVERNME NT AT PRIVATE SALE AT LESS THAN PAR, AND, IN THE 12
561+EVENT LESS THAN ALL OF THE AUTHORIZED PR INCIPAL AMOUNT OF TH E BONDS IS 13
562+SOLD TO THE FEDERAL GOVERNMENT , THE BALANCE MAY NOT BE SOLD AT PRIVATE 14
563+SALE AT LESS THAN PA R AT AN INTEREST COS T TO THE MUNICIPALIT Y WHICH DOES 15
564+NOT EXCEED THE INTER EST COST TO THE MUNI CIPALITY OF THE PORT ION OF THE 16
565+BONDS SOLD TO THE FE DERAL GOVERNMENT . 17
566+
567+ (E) IN CASE ANY OF THE PU BLIC OFFICIALS OF TH E MUNICIPALITY WHOSE 18
568+SIGNATURES APPEAR ON ANY BONDS OR COUPONS ISSUED UNDER THIS AP PENDIX 19
569+CEASE TO BE OFFICIALS OF THE MUNICIPALITY BEFORE THE DELIVERY OF THE 20
570+BONDS OR IN THE EVEN T ANY OF THE OFFICIA LS HAVE BECOME SUCH AFTER THE 21
571+DATE OF ISSUE OF THE M, THE BONDS ARE VALID AND BINDING OBLIGATI ONS OF THE 22
572+MUNICIPALITY IN ACCO RDANCE WITH THEIR TE RMS. ANY PROVISION OF ANY LAW 23
573+TO THE CONTRARY NOTW ITHSTANDING, ANY BONDS ISSUED PUR SUANT TO THIS 24
574+APPENDIX ARE FULLY N EGOTIABLE. 25
575+
576+ (F) IN ANY SUIT, ACTION, OR PROCEEDING INVOLV ING THE VALIDITY OR 26
577+ENFORCEABILITY OF AN Y BOND ISSUED UNDER THIS APPENDIX, OR THE SECURITY 27
578+FOR IT, ANY BOND WHICH RECIT ES IN SUBSTANCE THAT IT HAS BEEN ISSUED B Y THE 28
579+MUNICIPALITY IN CONN ECTION WITH AN URBAN RENEWAL PROJECT SHAL L BE 29
580+CONSIDERED CONCLUSIV ELY TO HAVE BEEN ISS UED FOR THAT PURPOSE , AND THE 30
581+PROJECT SHALL BE CON SIDERED CONCLUSIVELY TO HAVE BEEN PLANNED , 31
582+LOCATED, AND CARRIED OUT IN A CCORDANCE WITH THE P ROVISIONS OF THIS 32
583+APPENDIX. 33
584+
585+ (G) ALL BANKS, TRUST COMPANIES , BANKERS, SAVINGS BANKS , AND 34
586+INSTITUTIONS, BUILDING AND LOAN AS SOCIATIONS, SAVINGS AND LOAN 35
587+ASSOCIATIONS, INVESTMENT COMPANIES , AND OTHER PERSONS CARR YING ON A 36
588+BANKING OR INVESTMEN T BUSINESS; ALL INSURANCE COMPAN IES, INSURANCE 37 14 SENATE BILL 506
589+
590+
591+ASSOCIATIONS, AND OTHER PERSONS CA RRYING ON AN INSURAN CE BUSINESS; AND 1
592+ALL EXECUTORS , ADMINISTRATORS , CURATORS, TRUSTEES, AND OTHER 2
593+FIDUCIARIES, MAY LEGALLY IN VEST ANY SINKING FUN DS, MONEYS, OR OTHER 3
594+FUNDS BELONGING TO T HEM OR WITHIN THEIR CONTROL IN ANY BONDS OR OTHER 4
595+OBLIGATIONS ISSUED B Y THE MUNICIPALITY P URSUANT TO THIS APPE NDIX. 5
596+HOWEVER, THE BONDS AND OTHER OBLIGATIONS SHALL BE SECURED BY AN 6
597+AGREEMENT BETWE EN THE ISSUER AND TH E FEDERAL GOVERNMENT IN WHICH THE 7
598+ISSUER AGREES TO BOR ROW FROM THE FEDERAL GOVERNMENT AND THE F EDERAL 8
599+GOVERNMENT AGREES TO LEND TO THE ISSUER , PRIOR TO THE MATURIT Y OF THE 9
600+BONDS OR OTHER OBLIG ATIONS, MONEYS IN AN AMOUNT WHICH (TOGETHER WITH 10
601+ANY OTHER MONEYS COM MITTED IRREVOCABLY T O THE PAYMENT OF PRI NCIPAL 11
602+AND INTEREST ON THE BONDS OR OTHER OBLIG ATIONS) WILL SUFFICE TO PAY THE 12
603+PRINCIPAL OF THE BON DS OR OTHER OBLIGATI ONS WITH INTEREST TO MATURITY 13
604+ON THEM. THE MONEYS UNDER THE TERMS OF THE AGREEMENT SHALL BE 14
605+REQUIRED TO BE USED FOR THE PURPOSE OF P AYING THE PRINCIPAL OF AND THE 15
606+INTEREST ON THE BOND S OR OTHER OBLIGATIO NS AT THEIR MATURITY . THE BONDS 16
607+AND OTHER OBLIGATION S SHALL BE AUTHORIZE D SECURITY FOR ALL P UBLIC 17
608+DEPOSITS. THIS SECTION AUTH ORIZES ANY PERSONS O R PUBLIC OR PRIVATE 18
609+POLITICAL SUBDIVISIO NS AND OFFICERS TO U SE ANY FUNDS OWNED O R 19
610+CONTROLLED BY THEM F OR THE PURCHASE OF A NY BONDS OR OTHER 20
611+OBLIGATIONS. WITH REGARD TO LEGAL INVESTMENTS , THIS SECTION MAY NOT BE 21
612+CONSTRUED TO RELIEVE ANY PERSON OF ANY DUTY O F EXERCISING REASONA BLE 22
613+CARE IN SELECTING SE CURITIES. 23
614+
615+A1–113. SHORT TITLE. 24
616+
617+ THIS APPENDIX SHALL B E KNOWN AND MAY BE C ITED AS THE FOREST 25
618+HEIGHTS URBAN RENEWAL AUTHORITY FOR BLIGHT CLEARANCE ACT. 26
619+
620+A1–114. AUTHORITY TO AMEND OR REPEAL. 27
621+
622+ THIS APPENDIX, ENACTED PURSUANT TO ARTICLE III, SECTION 61 OF THE 28
623+MARYLAND CONSTITUTION, MAY BE AMENDED OR RE PEALED ONLY BY THE 29
624+GENERAL ASSEMBLY OF MARYLAND. 30
625+
626+ SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect 31
627+October 1, 2023. 32
628+