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Maryland Manual, 1969-70
Volume 174, Page 717   View pdf image (33K)
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MARYLAND MANUAL 717
and operating expenses of the Authority; the cost of finan-
cing the development, including interest on bonds and
notes issued to finance the development from the date there-
of to the date when the Authority shall determine that the
development be deemed substantially occupied; and the cost
of such other items, including any indemnity and surety
bonds and premiums on insurance, legal fees, fees and
expenses of trustees, depositories and paying agents for
bonds and notes issued; and relocation costs, all as the
Authority shall deem necessary.
4. Maryland Housing and Community Development
Authority
(1) There is hereby created a body politic and corporate
to be known as Maryland Housing and Community Develop-
ment Authority. The Authority is hereby constituted an
instrumentality of the State of Maryland, and the exercise
by the Authority of the powers conferred by this Article
shall be deemed and held to be the performance of an
essential governmental function of the State.
(2) The membership of the Authority shall consist of
seven directors appointed by the Governor with the advice
and consent of the Senate. From the seven directors the
Governor shall designate the chairman of the Authority
who shall serve at the pleasure of the Governor. The Gov-
ernor may but is not required to appoint as directors such
department heads or cabinet officers as he deems appro-
priate. Contingent upon the establishment of a State depart-
ment, embracing the areas of housing, community and
industrial development, the Governor shall appoint as one
of the seven directors for purposes of coordinating the pro-
grams of that department and this Authority, the head of
such department. Two of the directors first appointed by
the Governor shall serve for terms ending one year from
January 1st next succeeding their appointment, two shall
serve for terms ending two years from such date, and two
shall serve for terms ending three years from such date.
Their successors shall serve for terms of three years each.
Directors shall continue in office until their successors have
been appointed and qualified. In the event of a vacancy
occurring in the office of a director by death, resignation
or otherwise, the Governor shall appoint a successor to
serve for the balance of the unexpired term. The Governor
may at his sole discretion remove any of the directors serv-
ing at any time and reappoint a person to stand in the place
of the director so removed to serve for the balance of the
term of the director who had been removed.

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Maryland Manual, 1969-70
Volume 174, Page 717   View pdf image (33K)
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