Ch. 11

LAWS OF MARYLAND

The stylistic error was noted by the professional
staff of the Legislative Division of the Department of
Legislative Reference. The additions of the omitted
punctuation and conjunctions were suggested by the
State Attorney General in his bill review letter of
May 14, 1986.

(15) The Administration may issue securities backed
by mortgage loans for community development projects and
guaranteed by the Government. National Mortgage Association.
Issuance of these securities and their terms and conditions may
be as the Administration determines necessary or desirable for
guaranty by the Government National Mortgage Association,
notwithstanding inconsistent provisions of this [subheading]
SUBTITLE relating to bonds or notes issued by the Administration.
Except as so determined, the provisions of this [subheading]
SUBTITLE relating to bonds or notes issued by the Administration
apply to these securities.

DRAFTER'S NOTE; This corrects outdated cross-references in
Article 41, § 11-304(15).

Former subheading "Community Development
Administration" became Title 11, Subtitle 3 of this
article when the sections of Article 41 were
renumbered pursuant to Ch. 5 of the Acts of 1986.

The outdated cross-references were noted by the Michie
Company.

11-305.

(c) Notwithstanding any provision of this [subheading]
SUBTITLE or any other law or regulation of the State of Maryland,
the Administration in exercising its functions and
responsibilities may sell or lease for a term not exceeding
ninety-nine years all or any portion of the real, mixed or
personal property constituting a community development project
without public bidding or public sale and upon such terms and
conditions as may be determined to make economically feasible
housing in that development for families of limited incomes
whenever such sale or lease is in conformity with a plan for
community development approved by the Secretary at a public
hearing after notice published in at least one newspaper of
general circulation in the municipality or county in which the
development is situated. The plan for community development
presented at the hearing shall be in accordance with regulations
established by the Secretary which shall require a description of
the property to be disposed of, a statement of the identity of
the proposed purchaser or lessee and his proposed use or reuse of
the property, the price or rental to be paid by such purchaser or
lessee and those conditions of such sale or lease which insure

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