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Maryland Manual, 1969-70
Volume 174, Page 723   View pdf image (33K)
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MARYLAND MANUAL 723
with local urban renewal and other community develop-
ments, and the Authority shall assist localities in carrying
out such developments. Consideration shall also be given to
local and regional goals and policies as expressed in urban
renewal, community renewal and local comprehensive land
use plans and regional plans.
(2) After consultation with local officials, as provided in
subdivision one of this section, the Authority shall, in con-
structing, reconstructing, rehabilitating, altering or improv-
ing any development, comply with the requirements of local
laws, ordinances, codes, charters or regulations applicable
to such construction, reconstruction, rehabilitation, altera-
tion or improvement.
9. Development Funds
(1) The Authority shall have the power and authority to
meet the cost of any development through the expenditure
of funds appropriated pursuant to this Act; through the
expenditure of subsequent appropriations made by the Leg-
islature for this purpose; through the expenditure of the
proceeds of any State loan to the extent provided by the
Legislature or any agency or authority authorized to issue
bonds therefor; through the issuance of bonds, notes, or
other evidences of indebtedness for that purpose, payable
solely from revenues derived from such development or
developments; and from any other funds which may be
made available to the Authority for the purposes of devel-
opment under this Act from its own operations or from any
other source or sources.
(2) Any funds of the Authority not needed currently to
meet the expenses and obligations of the Authority shall be
deposited with the State Treasurer to the credit of the
Authority and invested by him in such manner as is pro-
vided by statute.
(3) The State Treasurer shall render annual reports to
the Authority advising the members of the Authority of the
status of the funds invested, the market value of the assets
in the fund as of the date such statement is rendered, and
the interest received from the investments during the
period covered by the report.
10. Revenue Bonds
. (1) The Authority is hereby authorized and empowered
to provide by resolution for the issuance at one time, or in
series from time to time, of revenue bonds of the Authority

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Maryland Manual, 1969-70
Volume 174, Page 723   View pdf image (33K)
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