1546                           laws of Maryland                     [Ch. 904

nection with an urban renewal project pending the disposition of
the property as authorized in this subheading, without regard to
the provisions 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 com-
pliance with the provisions of this subheading 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
subheading 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 subheading, shall afford
maximum opportunity, consistent with the sound needs of the
municipality as a whole, to the rehabilitation or redevelopment of
any urban renewal area by private enterprise. The municipality shall
give consideration to this objective in exercising its powers under
this subheading.

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 author-
izations 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
subheading, 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 munici-
pality derived from or held in connection with its undertaking and
carrying out of urban renewal projects under this subheading; pro-
vided, however, that payment of such bonds, both as to principal and
interest, may be further secured by a pledge of any loan, grant or
contribution from the Federal Government or other source, in aid
of any urban renewal projects of the municipality under this sub-
heading, and by a mortgage of any such urban renewal projects, or
any part thereof, title to which is in the municipality. In addition,
the municipality may enter into an Indenture of Trust with any
private banking institution of this State having trust powers and