J. MILLARD TAWES, GOVERNOR                           1459

(o) To appropriate such funds and make such expenditures as may
be necessary to carry out the purposes of this Act, and to levy taxes
and assessments for such purposes; to borrow money, and to give
such security as may be required therefor; to invest any urban re-
newal funds held in reserve or sinking funds or any such funds not
required for immediate disbursement, in property or securities which
are legal investments for other municipal funds.

(p) To create, appoint, and vest jurisdiction or authority to exer-
cise or perform all or any part of the powers contained in this article,
in a suitable board, agency or commission; to designate the number,
term, compensation and duties of said commission; to require that
no officer, official or employee of such commission, or the County
Council, shall become financially interested in any way in any land
or property which may be acquired for an urban renewal project.

(q) To condemn land or property, including improvements, and
all other right, title and interest therein, in the name of Montgomery
County for said urban renewal project, pursuant to Article 33A,
Maryland Code, 1957 Edition, as amended.

(r) To operate, manage and maintain temporarily any property
acquired by Montgomery County in an urban renewal area, or for
an urban renewal project, pending disposition of said property as
authorized by this Act, as may be deemed desirable even though not
in conformity with the urban renewal plan.

(s) To sell, lease, convey, transfer or otherwise dispose of or retain
any of said land or property, regardless of whether or not it has
been developed, redeveloped, altered or improved and irrespective of
the manner or means in or by which it may have been acquired, to
any private, public or quasi public corporation, partnership, associa-
tion, person or other legal entity. Any lease or rental agreement en-
tered into pursuant to this Act, for any of the purposes or objectives
contemplated by this Act, is hereby declared to be exclusively for
business or commercial purposes and the fee, interest, rent, or charge
reserved to be paid shall not be subject to redemption by the lessee,
tenant or their successors in title, except to the extent and in the
manner set forth in such lease agreement. Such property shall be
subject to such covenants, conditions and restrictions, including
covenants running with the land as the County Council may deem
to be necessary or desirable to assist in preventing the development
or spread of future slums or blighted areas or to otherwise carry out
the purposes of this Act. The purchasers or lessees and their suc-
cessors and assigns shall be obligated to devote such real property only
to the uses specified in the urban renewal plan, and may be obligated
to comply with such other requirements as the County Council may
determine to be in the public interest, including the obligation to
begin within a reasonable time any improvements on such real prop-
erty required by the urban renewal plan. Such real property or in-
terest therein shall be retained, sold, leased, or otherwise transferred
at not less than its fair value for uses in accordance with the urban
renewal plan. In determining the fair value of real property for
uses in accordance with the urban renewal plan, consideration shall
be given to the uses provided in such plan; the restrictions upon,
and the covenants, conditions and obligations assumed by the pur-
chaser or lessee or by the County Council retaining property; and
the objectives of such plan for the prevention of the recurrence of