HARRY HUGHES, Governor

823

predominantly open or undeveloped land or any interest therein
and owning and holding the same; (b) installing access and
interior streets and roadways, sewer and waterlines in or to and
otherwise improving, selling, assigning, exchanging,
transferring, conveying, leasing, mortgaging, or otherwise
disposing of or encumbering real property which is open,
predominantly open or undeveloped land or any interest therein or
any combination of the foregoing; (c) subject to approval of
local governing bodies as provided in § 266DD-5(b), acquired by
grant, gift, purchase or otherwise, subject to the provisions of
subsection [7] (7) hereof, real property which is not open,
predominantly open or undeveloped land, personal property or
mixed property and owning, managing, operating, holding,
clearing, improving, constructing and rehabilitating, and
selling, assigning, exchanging, transferring, conveying, leasing,
mortgaging, or otherwise disposing of or encumbering the same and
taking assignments of rentals and leases for same or any
combination of the foregoing; (d) arranging or contracting with
any municipality or county for the planning, replanning, zoning
or rezoning, opening, grading or closing of streets, roads,
roadways, alleys or other places, or for the furnishing of
facilities or for the acquisition by a municipality of property
or property rights or for the furnishing of property or services
in connection with a community development; and (e) expending any
funds of the Administration for any undertaking which has been
approved by the Secretary of Economic and Community Development.

(17) (iii) 4. As early as practicable in each
calendar year the Secretary shall compute the amount of the State
ceiling and the allocation share for each county and each
eligible local issuer and allocate from the Administration to
each eligible local issuer that submits a request prior to March
1 of that year a portion of the State ceiling equal to its
allocation share or in the case of any eligible local issuer
which had issued bonds prior to January 1, 1981, for the purpose
of financing single-family residences, the greater of its
allocation share or the amount of bonds determined by the
Secretary to be available to that eligible local issuer in
accordance with § 103A(g)(3) of [the Code] THIS ARTICLE.

(v) It is the intention of the General Assembly
that any allocation of the State ceiling for calendar year 1981
be effected by the Governor according to § 103A(g)(6)(b) of [the
Code] THIS ARTICLE.

266JJ-2.

(j) "Original assessable base" means the assessable base as
of January 1 of that year preceding the effective date of the
resolution creating the development district under § 266JJ-6 of
this [subtitle] SUBHEADING.

266JJ-7.