HARRY HUGHES, Governor

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PUBLIC INTEREST. ACCORDINGLY, THE PROVISIONS OF THIS
SECTION ARE DECLARED AS A MATTER OF LEGISLATIVE
DETERMINATION TO CREATE A SOUND HOUSING STOCK, CONTRIBUTE
TOWARDS A BALANCED ECONOMY, PROMOTE THE HEALTH, WELFARE AND
SAFETY OF THE RESIDENTS AND THEREFORE BE VALID PUBLIC
PURPOSES.

(B)  THE HOUSING AUTHORITY OF PRINCE GEORGE'S COUNTY,
IN ADDITION TO THE POWERS ENUMERATED IN THIS ARTICLE, HAS
THE AUTHORITY TO EXERCISE ALL OR ANY PART OR COMBINATION OF
SUCH POWERS TO PROVIDE HOUSING, HOUSING REHABILITATION,
HOUSING PROJECTS, INTEGRALLY RELATED COMMERCIAL STRUCTURES,
AND THE FINANCING OF SUCH HOUSING FOR COUNTY RESIDENTS; AND
TO ACQUIRE AND EXPEND PUBLIC FUNDS FOR SUCH PURPOSES.

(C)  WITH THE APPROVAL OF THE COUNTY GOVERNING BODY,
THE HOUSING AUTHORITY OF PRINCE GEORGE'S COUNTY WITHIN ITS
AREA OF OPERATION ALSO HAS THE FOLLOWING POWERS:

(1)  TO MAKE CONSTRUCTION LOANS AND LONG-TERM
MORTGAGE LOANS TO ANY PERSON, FIRM, PARTNERSHIP,
ASSOCIATION, JOINT VENTURE, OR PRIVATE OR PUBLIC CORPORATION
TO PRODUCE HOUSING UNDER THE PROVISIONS OF THIS SECTION.

(2)  TO PURCHASE AND TO INSURE MORTGAGES SECURED
BY SUCH HOUSING.

(3)  TO FINANCE ANY HOUSING, HOUSING
REHABILITATION, OR HOUSING PROJECT AUTHORIZED BY THIS
SECTION BY ISSUING AND SELLING SUCH TYPES OF BONDS AS IT MAY
DETERMINE, INCLUDING BONDS ON WHICH THE PRINCIPAL AND
INTEREST ARE PAYABLE: (I) EXCLUSIVELY FROM THE INCOME AND
REVENUES OF THE HOUSING PROJECT FINANCED WITH THE PROCEEDS
OF SUCH BONDS, OR WITH SUCH PROCEEDS TOGETHER WITH A GRANT
FROM THE FEDERAL GOVERNMENT IN AID OF SUCH PROJECT; (II)
EXCLUSIVELY FROM THE INCOME AND REVENUES OF CERTAIN
DESIGNATED HOUSING PROJECTS WHETHER OR NOT THEY WERE
FINANCED IN WHOLE OR IN PART WITH THE PROCEEDS OF SUCH
BONDS; OR (III) FROM ITS REVENUES GENERALLY. ANY OF SUCH
BONDS MAY BE SECURED ADDITIONALLY BY PLEDGE OF ANY REVENUES
OR A MORTGAGE OF ANY HOUSING PROJECT, PROJECTS, OR OTHER
PROPERTY OF THE AUTHORITY.

(D)  FOR PURPOSES OF THIS SECTION, THE PHRASE "HOUSING,
HOUSING REHABILITATION, OR HOUSING PROJECT" MEANS ANY
UNDERTAKING OR PROJECT, OR PORTION THEREOF, INCLUDING LANDS,
BUILDINGS AND IMPROVEMENTS, REAL, MIXED AND PERSONAL
PROPERTIES OR INTEREST THEREIN THAT IS PLANNED, ACQUIRED,
OWNED, DEVELOPED, CONSTRUCTED, RECONSTRUCTED, REHABILITATED,
OR IMPROVED FOR PURPOSES OF PROVIDING DWELLING
ACCOMMODATIONS, AND SUCH STREETS, ROADS, SEWER AND
WATERLINES, AND OTHER SUPPORTING PUBLIC AND PRIVATE
FACILITIES INTENDED FOR COMMERCIAL, EDUCATIONAL, CULTURAL,
RECREATIONAL, COMMUNITY OR OTHER CIVIC PURPOSES AS MAY BE
DEEMED NECESSARY FOR SOUND NEIGHBORHOOD DEVELOPMENT.

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