J. MILLARD TAWES, Governor                      273

(a)   The power to pass a resolution to initiate an urban renewal
project pursuant to Section 4 of this Article.

(b)   The power to issue general obligation bonds pursuant to Sec-
tion 9 of this Article.

(c)   The power to appropriate funds, and to levy taxes and assess-
ments pursuant to Section 2(c) of this Article.

Section 4. Initiation of Project

In order to initiate an urban renewal project, the legislative body
of the municipality shall adopt a resolution which

(a)  Finds that one or more slum or blighted areas exist in such
municipality;

(b)  Locates and defines the said slum or blighted areas;

(c)  Finds that the rehabilitation, redevelopment, or a combination
thereof, of such area or areas, is necessary in the interest of the
public health, safety, morals or welfare of the residents of such
municipality.

Section 5. Preparation and approval of Plan for Urban Renewal
Project

The municipality, in order to carry out the purposes of this Article,
shall prepare or cause to be prepared an urban renewal plan for
slum or blighted areas in the municipality, and shall formally ap-
prove such plan. Prior to its approval of an urban renewal project,
the municipality shall submit such plan to the planning body of the
municipality, for review and recommendations as to its conformity
with the master plan for the development of the municipality as a
whole. The planning body shall submit its written recommendation
with respect to the proposed urban renewal plan to the municipality
within sixty days after receipt of the plan for review; upon receipt
of the recommendations of the planning body or, if no recommenda-
tions are received within said sixty days, then without such recom-
mendations, the municipality may proceed with a public hearing on
the proposed urban renewal project. The municipality shall hold a
public hearing on an urban renewal project after public notice there-
of by publication in a newspaper having a general circulation within
the corporate limits of the municipality. The notice shall describe the
time, date, place and purpose of the hearing, shall generally identify
the urban renewal area covered by the plan, and shall outline the gen-
eral scope of the urban renewal project under consideration. Follow-
ing such hearing, the municipality may approve an urban renewal
project and the plan therefor if it finds that: (1) a feasible method
exists for the location of any families who will be displaced from the
urban renewal area in decent, safe and sanitary dwelling accommo-
dations within their means and without undue hardship to such
families; (2) the urban renewal plan substantially conforms to the
master plan of the municipality as a whole; and (3) the urban re-
newal plan will afford maximum opportunity, consistent with the
sound needs of the municipality as a whole, for the rehabilitation or
redevelopment of the urban renewal area by private enterprise.

An urban renewal plan may be modified at any time, provided that
if modified after the lease or sale of real property in the urban re-