J. MILLARD TAWES, GOVERNOR                             997

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 proposals to
carry them out, and may negotiate with any persons for proposals
for the purchase, lease or other transfer of any real property
acquired by the municipality in the urban renewal area. The munic-
ipality may accept such proposal as it deems to be in the public
interest and in furtherance of the purposes of this sub-heading.
Thereafter, the municipality may execute and deliver contracts,
deeds, leases and other instruments 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 connection
with an urban renewal project pending the disposition of the prop-
erty as authorized in this sub-heading, without regard to the provi-
sions of sub-section (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 sub-
heading shall be conclusively presumed to have been executed in com-
pliance 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 feasible
in carrying out the provisions of this sub-heading, shall afford maxi-
mum opportunity, consistent with the sound needs of the municipal-
ity as a whole, to the rehabilitation or redevelopment of any urban
renewal area by private enterprise. The municipality shall give con-
sideration 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 may issue and sell its
general obligation bonds. Any bonds issued by the municipality pur-
suant to this section shall be issued in the manner and within the
limitations prescribed by applicable law for the issuance and authori-
zations of general obligation bonds by such municipality, and also
within such limitations as shall be determined by said municipality.

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