J. MILLARD TAWES, Governor                      281

Code being Article 1 of the Code of Public Local Laws of Mary-
land), title "Allegany County", sub-title "Frostburg", sub-heading
"Redevelopment—Urban Renewal", and said Sections 266 and 273
having been enacted by Chapter 843 of the Acts of 1961, amend-
ing the Charter of the City of Frostburg with respect to its powers
concerning redevelopment and urban renewal in order to correct
errors in the cross-references therein, relating to the establish-
ment of an urban renewal agency and the issue of revenue bonds
for this purpose of the municipality.

Section 1. Be it enacted by the General Assembly of Maryland,
That Sections 266 and 273 of the Charter of the City of Frostburg
(being in the Code of Public Local Laws of Allegany County, 1955
Edition, and this Code being Article 1 of the Code of Public Local
Laws of Maryland), title "Allegany County", sub-title "Frostburg",
sub-heading "Redevelopment—Urban Renewal", said Sections 266
and 273 having been enacted by Chapter 843 of the Acts of 1961,
be and they are hereby repealed and re-enacted, with amendments,
to read as follows:

266.

The municipality may itself exercise all the powers granted by
this sub-title, or may, if its legislative body by ordinance determines
such action to be in the public interest elect to have such powers
exercised by a separate public body or agency as hereinafter pro-
vided. In the event said legislative body makes such determination,
it shall proceed by ordinance to establish a public body or agency to
undertake in the municipality the activities authorized by this sub-
title. Such ordinance shall include provisions establishing the number
of members of such public body or agency, the manner of their
appointment and removal, the terms of said members and their com-
pensation. The ordinance may include such additional provisions
relating to the organization of said public body or agency as may
be necessary. In the event the legislative body enacts such an ordi-
nance, all of the powers by this sub-title granted to the municipality
shall, from the effective date of said ordinance, be vested in the
public body or agency thereby established, except:

(a)   The power to pass a resolution to initiate an urban renewal
project pursuant to Section [218] 267 of this sub-title.

(b)  The power to issue general obligation bonds pursuant to
Section [223] 272 of this sub-title.

(c)   The power to appropriate funds, and to levy taxes and assess-
ments pursuant to Section 265 (c) of this sub-title.

273.

In addition to the authority conferred by Section [223] 272 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 sub-title: Pro-