J. MILLARD TAWES, GOVERNOR                           1477

tify the area, or portion thereof, and shall state that proposals shall
be made by those interested within a specified period of not less
than sixty days after the first date of publication of said notice, and
that such further information as is available may be obtained at
such office as shall be designated in said notice. The municipality
shall consider all such redevelopment or rehabilitation proposals
and the financial and legal ability of the persons making such pro-
posals to carry them out, and may negotiate with any persons for
proposals for the purchase, lease or other transfer of any real prop-
erty acquired by the municipality in the urban renewal area. AT
THE TIME SUCH PROPOSAL IS MADE, A STATEMENT CON-
TAINING THE NAME OF THE REDEVELOPER OR PUR-
CHASER, TOGETHER WITH THE NAMES OF ITS OFFICERS
(OR PRINCIPAL MEMBERS IF NOT A CORPORATION), THE
NAMES OF THOSE PARTIES HAVING A SUBSTANTIAL FI-
NANCIAL INTEREST IN SUCH PROPOSAL AND SUCH OTHER
INFORMATION AS THE MUNICIPALITY MAY REQUIRE,
SHALL BE FILED WITH THE MUNICIPALITY, AND THE
MUNICIPALITY SHALL MAKE SAID STATEMENT AVAIL-
ABLE TO PUBLIC INSPECTION. The municipality may accept
such proposal as it deems to be in the public interest and in further-
ance of the purposes of this Article. Thereafter, the municipality
may execute and deliver contracts, deeds, leases and other instru-
ments and take all steps necessary to effectuate such transfers.

c)   The municipality may temporarily operate and maintain real
property acquired by it in an urban renewal area for or in con-
nection with an urban renewal project pending the disposition of
the property as authorized in this Article, without regard to the
provisions of subsection (a) above, for such uses and purposes as
may 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 Ar-
ticle shall be conclusively presumed to have been executed in com-
pliance with the provisions of this Article insofar as title or other
interest of any bona fide purchasers, lessees or transferees of such
property is concerned.

Section 7. Eminent Domain.

Condemnation of land or property under the provisions of this
Article shall be in accordance with the procedure provided in Ar-
ticle S3 A of the Annotated Code of Maryland (1957 Edition, as
amended) and acts amendatory thereof or supplementary thereto.

Section 8. Encouragement of Private Enterprise.

The municipality, to the greatest extent it determines to be feasible
in carrying out the provisions of this Article, shall afford maximum
opportunity, consistent with the sound needs of the municipality as
a whole, to the rehabilitation or redevelopment of any urban re-
newal area by private enterprise. The municipality shall give con-
sideration to this objective in exercising its powers under this
Article.

Section 9. General Obligation Bonds.

For the purpose of financing and carrying out of an urban re-