1534                             Laws of Maryland                      [Ch. 843

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

Section 270. Eminent Domain

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

Section 271. Encouragement of Private Enterprise

The municipality, to the greatest extent it determines to be feasible
in carrying out the provisions of this subtitle, shall afford maximum
opportunity, consistent with the sound needs of the municipality 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 subtitle.

Section 272. General Obligation Bonds

For the purpose of financing and carrying out of an urban re-
newal project and related activities, the municipality 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 authorization of general obligation bonds by such municipality,
and also within such limitations as shall be determined by said
municipality.

Section 273. Revenue Bonds

In addition to the authority conferred by Section 223 of this sub-
title, 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 munic-
ipality derived from or held in connection with its undertaking and
carrying out of urban renewal projects under this subtitle: 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 prospects of the municipality under this
subtitle, and by a mortgage of any such urban projects, or any part
thereof, title to which is the municipality. In addition, the munic-
ipality may enter into an Indenture of Trust with any private bank-
ing 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.

(1) Bonds issued under this section shall not constitute an in-
debtedness within the meaning of any constitutional or statutory
debt limitation or restriction, shall not be subject to the provisions