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LAWS OF MARYLAND
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Ch. 509
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1556
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restricted. A NEED EXISTS FOR THE ACQUISITION AND CONSTRUCTION
OF CONTINUING CARE FACILITIES AT THE LEAST COST TO THE USERS OF
THOSE FACILITIES. A need exists for the construction and
rehabilitation of such housing AND CONTINUING CARE FACILITIES and
the expenditure of public resources and assistance meet the needs
and are in the 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, OR CONTINUING CARE FACILITY 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 OR CONTINUING CARE FACILITY 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) (1) 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,
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