4326

LAWS OF MARYLAND

Ch. 791

(2)  ENCOURAGE THE INCREASE OF INDUSTRY AND
COMMERCE AND A BALANCED ECONOMY IN THE STATE;

(3)  ASSIST IN THE RETENTION OF EXISTING INDUSTRY
AND COMMERCE AND IN THE ATTRACTION OF NEW INDUSTRY AND
COMMERCE IN THE STATE THROUGH, AMONG OTHER THINGS, PORT
DEVELOPMENT AND THE CONTROL, REDUCTION, OR ABATEMENT OF
POLLUTION OF THE ENVIRONMENT AND THE UTILIZATION AND
DISPOSAL OF WASTES;

(4)  PROMOTE ECONOMIC DEVELOPMENT;

(5)  PROTECT NATURAL RESOURCES AND ENCOURAGE
RESOURCE RECOVERY; AND

(6)  GENERALLY PROMOTE THE HEALTH, WELFARE, AND
SAFETY OF THE RESIDENTS OF EACH OF THE COUNTIES AND
MUNICIPALITIES OF THE STATE.

(C) THIS SUBTITLE SHALL BE LIBERALLY CONSTRUED TO
EFFECT ITS PURPOSES.

266C.

(A) IN ORDER TO ACCOMPLISH THE LEGISLATIVE POLICY SET
FORTH IN § 266B OF THIS SUBTITLE, THE LEGISLATIVE BODY OF
ANY COUNTY OR MUNICIPALITY MAY ADOPT A RESOLUTION WHICH
CREATES AN INDUSTRIAL DEVELOPMENT AUTHORITY. THE RESOLUTION
AND ANY RESOLUTION ADOPTED PURSUANT TO SUBSECTIONS (D) OR
(K), IS DEEMED TO BE ADMINISTRATIVE IN NATURE AND NOT
SUBJECT TO REFERENDUM AND, EXCEPT IN A COUNTY OR
MUNICIPALITY THAT DOES NOT HAVE A PUBLICLY ELECTED CHIEF
EXECUTIVE OFFICER, SHALL NOT BE SUBJECT TO APPROVAL OF THE
CHIEF EXECUTIVE OFFICER. THE RESOLUTION SHALL INCLUDE
PROPOSED ARTICLES OF INCORPORATION OF THE AUTHORITY THAT
STATE:

(1)  THE NAME OF THE AUTHORITY, WHICH SHALL BE
"INDUSTRIAL DEVELOPMENT AUTHORITY OR OF (HERE INSERT THE
NAME OF THE INCORPORATING COUNTY OR MUNICIPALITY)";

(2)  THE AUTHORITY IS FORMED UNDER THIS SUBTITLE;

(3)  THE NAMES, ADDRESSES, AND TERMS OF OFFICE OF
THE FIRST DIRECTORS OF THE AUTHORITY;

(4)  THE LOCATION OF THE PRINCIPAL OFFICE OF THE
AUTHORITY;

(5)  THE PURPOSES FOR WHICH THE AUTHORITY IS
FORMED; AND

(6) THE POWERS OF THE AUTHORITY, SUBJECT TO THE
RESTRICTIONS OR LIMITATIONS ON THE POWERS OF THE AUTHORITY