J. MILLARD TAWES, GOVERNOR                           1335

security as may be required therefor; to invest any urban renewal
funds held in reserves or sinking funds or any such funds not re-
quired for immediate disbursement, in property or securities which
are legal investments for other municipal funds.

(4) to hold, improve, clear or prepare for redevelopment any
property acquired in connection with urban renewal projects; to
mortgage, pledge, hypothecate or otherwise encumber such property;
to insure or provide for the insurance of such property or operations
of the municipality against any risks or hazards, including the power
to pay premiums on any such insurance;

(5)  to make and execute all contracts and other instruments nec-
essary or convenient to the exercise of its powers under this sub-
heading, including the power to enter into agreement with other
public bodies or agencies (which agreements may extend over any
period, notwithstanding any provision or rule of law to the con-
trary), and to include in any contract for financial assistance with
the Federal Government for or with respect to an urban renewal
project and related activities such conditions imposed pursuant to
Federal laws as the municipality may deem reasonable and appro-
priate;

(6)  to enter into any building or property in any urban renewal
area in order to make inspections, surveys, appraisals, soundings or
test borings, and to obtain an order for this purpose from the Circuit
Court for the county in which the municipality is situated in the
event entry is denied or resisted;

(7)  to plan, replan, install, construct, reconstruct, repair, close or
vacate streets, roads, sidewalks, public utilities, parks, playgrounds,
and other public improvements in connection with an urban renewal
project; and to make exceptions from building regulations;

(8)  to generally organize, coordinate and direct the administra-
tion of the provisions of this sub-heading as they apply to such
municipality in order that the objective of remedying slum and
blighted areas and preventing the causes thereof within such munic-
ipality may be most effectively promoted and achieved;

(9) to require any public utility to relocate, at its own expense,

any lines or other facilities within an urban renewal area, if such

relocation is required to carry out an urban renewal plan;

(10) (9) to exercise all or any part or combination of powers herein
granted.

S. Establishment of Urban Renewal Agency

The municipality may itself exercise all the powers granted by this
sub-heading or may, if its legislative body by ordinance determines
such action to be in the public interest, elect to have such powers
exercised by a separate public body or agency as hereinafter pro-
vided. In the event said legislative body makes such determination,
it shall proceed by ordinance to establish a public body or agency to
undertake in the municipality the activities authorized by this sub-
heading. Such ordinance shall include provisions establishing the
number of members of such public body or agency, the manner of
their appointment and removal, the terms of said members and their
compensation. The ordinance may include such additional provisions
relating to the organization of said public body or agency as may be
necessary. In the event the legislative body enacts such an ordinance,