J. MILLARD TAWES, GOVERNOR                           1317

be deemed desirable even though not in conformity with the urban
renewal plan.

(d) Any instrument executed by the municipality and purporting
to convey any right, title or interest in any property under this sub-
heading shall be conclusively presumed to have been executed in
compliance with the provisions of this sub-heading insofar as title
or other interest of any bona fide purchaser, lessees or transferees of
such property is concerned.

7.  Eminent Domain

Condemnation of land or property under the provisions of this
sub-heading shall be in accordance with the procedure provided in
Article 33A of the Annotated Code of Maryland (1957 Edition, as
amended) and acts amendatory thereof or supplementary thereto.

8.  Encouragement of Private Enterprise

The municipality, to the greatest extent it determines to be feasi-
ble in carrying out the provisions of this sub-heading, shall afford
maximum opportunity, consistent with the sound needs of the mu-
nicipality as a whole, to the rehabilitation or redevelopment of any
urban renewal area by private enterprise. The municipality shall
give consideration to this objective in exercising its powers under
this sub-heading.

9.  General Obligation Bonds

For the purpose of financing and carrying out of an urban renewal
project and related activities, the municipality UPON A TWO-
THIRDS VOTE OF THE MAYOR AND ALDERMEN may issue and
sell its general obligation bonds. Any bonds issued by the munic-
ipality pursuant to this section shall be issued in the manner and
within the limitations prescribed by applicable law for the issuance
and authorizations of general obligation bonds by such municipality,
and also within such limitations as shall be determined by said mu-
nicipality.

10. Revenue Bonds

(a) In addition to the authority conferred by Section 9 of this
sub-heading, the municipality shall have the power to issue revenue
bonds to finance the undertaking of any urban renewal project and
related activities, and shall also have power to issue refunding bonds
for the payment or retirement of such bonds previously issued by
it. Such bonds shall be made payable, as to both principal and interest,
solely from the income, proceeds, revenues, and funds of the munici-
pality derived from or held in connection with its undertaking and
carrying out of urban renewal projects under this sub-heading; pro-
vided, however, that payment of such bonds, both as to principal
and interest, may be further secured by a pledge of any loan, grant
or contribution from the Federal Government or other source, in
aid of any urban renewal projects of the municipality under this
sub-heading, and by a mortgage of any such urban renewal projects,
or any part thereof, title to which is in the municipality. In addition,
the municipality may enter into an Indenture of Trust with any
private banking institution of this State having trust powers and may
make in such indenture of trust such covenants and commitments
as may be required by any purchaser for the adequate security of
said bonds.