1302                             LAWS OF MARYLAND                         CH. 646

newal area for or in connection with an urban renewal project
pending the disposition of the property as authorized in this article,
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)    Title. Any instrument executed by the municipality and
purporting to convey any right, title or interest in any property
under this article shall be conclusively presumed to have been
executed in compliance with the provisions of this article insofar as
title or other interest of any bona fide purchaser, lessees or trans-
ferees of such property is concerned.

(e)    Residential property. In the event that urban renewal plans
involve removal of residential housing, provision and plans must be
made for their replacement with adequate facilities for the residents
so displaced.

63-39 EMINENT DOMAIN

Condemnation of land or property under the provisions of this
article shall be in accordance with the procedure provided in Article
33A of the Annotated Code of Maryland (1967 Replacement Volume)
and acts amendatory thereof or supplementary thereto.

63-40 ENCOURAGEMENT OF PRIVATE ENTERPRISE

The municipality, to the greatest extent it determines to be feasible
in carrying out the provisions of this article, 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 article.

63-41 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
pursuant to this section shall be issued in the manner and within the
limitations prescribed by applicable law for the issuance and au-
thorizations of general obligations bonds by such municipality, and
also within such limitations as shall be determined by said munic-
ipality.

63-42 REVENUE BONDS

(a) Procedure. In addition to the authority conferred by section
63-41 of this Charter, 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 pre-
viously 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 municipality derived from or held in connection
with its undertaking and carrying out of urban renewal projects
under this article; provided, 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