116                                LAWS OF MARYLAND                          [CH. 70

in any instrument of conveyance to a private purchaser or lessee
may provide that such purchaser or lessee shall be without power to
sell, lease or otherwise transfer the real property without the prior
written consent of the municipality until he has completed the con-
struction of any or all improvements which he has obligated himself
to construct thereon. Real property acquired by the municipality
which, in accordance with the provisions of the urban renewal plan,
is to be transferred, shall be transferred as rapidly as feasible in the
public interest consistent with the carrying out of the provisions of
the urban renewal plan. Any contract for such transfer and the
urban renewal plan (or such part or parts of such contract or plan
as the municipality may determine) may be recorded in the Land
Records of the county in which the municipality is situated in such
manner as to afford actual or constructive notice thereof.

(b)   The municipality may dispose of real property in an urban
renewal area to private persons only under such reasonable com-
petitive bidding procedures as it shall prescribe or as hereinafter
provided in this sub-section. The municipality may, by public notice
by publication in a newspaper having a general circulation in the
community (not less than sixty days prior to the execution of any
contract to sell, lease or otherwise transfer real property and prior
to the delivery of any instrument of conveyance with respect thereto
under the provisions of this section) invite proposals from and make
available all pertinent information to private redevelopers or any
persons interested in undertaking to redevelop or rehabilitate an
urban renewal area, or any part thereof. Such notice shall identify
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 day 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 proposal 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 connec-
tion with an urban renewal project pending the disposition of the
property as authorized in this sub-heading, without regard to the
provisions 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
compliance 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.