Ch. 470                             MARVIN MANDEL, Governor                                1053

Annotated] TITLE 12 OF ARTICLE 21 OF THIS Code [of Maryland].

18.

In the event either the Commission or the property owner shall be dissatisfied
with the findings and award of the board of property review either shall have the
right of appeal to the circuit court for the county or the Superior Court for
Baltimore City, as the case may be, in whichever jurisdiction the property is
situated. Upon appeal the case shall be heard and determined under the procedure
set forth in this article and [Article 33A of the Annotated] TITLE 12 OF
ARTICLE 21 OF THIS Code [of Maryland]. If the Commission shall have failed
to acquire title to the property and ascertained the amount to be paid for same
within one year from the date the plats or maps are recorded, as aforesaid, or have
failed to file a condemnation suit in the proper court, as aforesaid, then, and in
such case, the value of the property shall no longer be determined as of the date
the plats or maps were recorded but shall be determined as of the time of
acquisition unless the value be less at the time of acquisition and then, in such
cases, the value shall be determined as of the recordation date.

19.

The Commission is hereby empowered to acquire, under the procedure set forth
in the aforegoing sections or under the appropriate sections of this article and
[Article 33A of the] TITLE 12 OF ARTICLE 21 OF THIS Code, property other
than needed for highway purposes along controlled or limited access highways
when such property is cut off from suitable access to a public road because of the
construction or reconstruction of any controlled or limited access highway. The
said Commission is further empowered to acquire by condemnation land and
property rights necessary to provide a right-of-way or entrance to a public road
from any property that has been denied access because of the construction or
reconstruction of a controlled or denied access highway.

22A.

(b) The Secretary of Transportation may enter into an agreement or
agreements, singly or jointly, with the trustees of the Employees' Retirement
System of the State of Maryland, the Teachers' Retirement System of the State of
Maryland or the State Police Retirement System of the State of Maryland for the
acquisition of real property that the Department of Transportation deems will be
necessary for the future improvement of the State transportation system. Such
agreements shall provide that the title to such property to be so acquired to be
taken in the name of the Department of Transportation of Maryland to the use of
the State of Maryland, and for the simultaneous execution of a first mortgage by
the Department of Transportation; acting for the State of Maryland, for the full
amount of the acquisition price for such property, to the retirement system lending
such acquisition price. Such agreements may be entered into for the acquisition
and financing as aforesaid of an individual parcel or of any number of parcels
within the limits of a contemplated transportation project. Such mortgages shall
provide for the payment of interest at a rate, to be determined by the parties,
payable annually to such mortgagees, shall provide also that the duration of such
mortgage shall be for no longer than five (5) years subject to prepayment at any
time prior to the expiration of such five-year term, at the option of the Department
upon payment of principal and interest to the date of prepayment. Each such
mortgage may not extend beyond five years from the date it is entered into. The
total amount to be loaned hereunder by the retirement system for the five-year
period beginning June 1, 1967, and for any succeeding five-year period, may not at
any time exceed ten (10%) percent of the combined total assets of the retirement
systems, nor may the amount loaned in any one year exceed one fifth of such total