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Session Laws, 1974
Volume 713, Page 2340   View pdf image
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2340                                          LAWS OF MARYLAND                      [Ch. 687

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 Title
12 of THE REAL PROPERTY Article [21] of [this] THE 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

 

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Session Laws, 1974
Volume 713, Page 2340   View pdf image
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