1332                              LAWS OF MARYLAND                        [CH. 614

assumed by the purchaser or lessee or by the municipality retaining
the property; and the objectives of such plan for the prevention of
the recurrence of slum or blighted areas. The municipality in any
instrument of conveyance to a private purchaser or lessee may pro-
vide 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 competi-
tive bidding procedures as it shall prescribe or as hereinafter pro-
vided in this subsection. 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 municipality
may accept such proposal as it deems to be in the public interest
and in furtherance of the purposes of this subheading. 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 subheading, without regard to the pro-
visions 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 sub-
heading shall be conclusively presumed to have been executed in