Ch. 266                                   1996 LAWS OF MARYLAND

AUTHORITY THE AUTHORITY TO ACQUIRE BY ANY LEGAL MEANS. INCLUDING BY
EXERCISE OF THE POWER OF EMINENT DOMAIN. LAND OR PROPERTY FOR
RESIDENTIAL. COMMERCIAL. OR INDUSTRIAL DEVELOPMENT OR REDEVELOPMENT.
TO DEVELOP OR REDEVELOP LAND OR PROPERTY FOR RESIDENTIAL,
COMMERCIAL OR INDUSTRIAL PURPOSES. AND TO DISPOSE OF LAND OR PROPERTY
FOR RESIDENTIAL. COMMERCIAL OR INDUSTRIAL DEVELOPMENT OR
REDEVELOPMENT UNDER CERTAIN CIRCUMSTANCES;

(6) THE REVITALIZATION OF AREAS WITHIN PRINCE GEORGE'S
COUNTY IN NEED OF RESIDENTIAL. COMMERCIAL OR INDUSTRIAL DEVELOPMENT
OR REDEVELOPMENT IS AN ESSENTIAL GOVERNMENTAL FUNCTION. AND IS A
PUBLIC USE WHICH WILL CONFER A PUBLIC BENEFIT ON THE CITIZENS OF THE
COUNTY BY RELIEVING CONDITIONS OF UNEMPLOYMENT. ENCOURAGING THE
INCREASE OF INDUSTRY AND COMMERCE AND A BALANCED ECONOMY. ASSISTING
IN THE RETENTION OF EXISTING INDUSTRY AND COMMERCE AND IN THE
ATTRACTION OF NEW INDUSTRY AND COMMERCE. PROMOTING ECONOMIC
DEVELOPMENT AND GROWTH. AND GENERALLY PROMOTING THE HEALTH.
WELFARE AND SAFETY OF THE RESIDENTS OF THE COUNTY;

(7) THE EXERCISE BY THE COUNTY OR THE AUTHORITY WHICH THE
COUNTY IS AUTHORIZED TO ESTABLISH OF THE POWER OF EMINENT DOMAIN IN
ACCORDANCE WITH THIS SUBTITLE IN ORDER TO PROVIDE AN IMPETUS WHICH
PRIVATE ENTERPRISE CANNOT PROVIDE IS HEREBY DECLARED TO BE FOR A
PUBLIC USE;

(8) THE POWERS GRANTED PURSUANT TO THIS SUBTITLE SHALL BE
REGARDED AS SUPPLEMENTAL AND ADDITIONAL TO POWERS CONFERRED BY
OTHER LAWS. AND MAY NOT BE REGARDED AS IN DEROGATION OF ANY POWERS
NOW EXISTING

(9) THIS SUBTITLE IS NECESSARY FOR THE REVITALIZATION OF PRINCE
GEORGE'S COUNTY AND THE PUBLIC INTEREST OF ITS CITIZENS AND SHALL BE
LIBERALLY CONSTRUED TO EFFECT ITS PURPOSES; AND

(10) THE NECESSITY IN THE PUBLIC INTEREST FOR THE PROVISIONS
HEREINAFTER ENACTED IS HEREBY DECLARED AS A MATTER OF LEGISLATIVE
DETERMINATION.

15B-102.

(A) IN THIS SUBTITLE THE FOLLOWING TERMS HAVE THE MEANINGS
INDICATED.

(B) "BOND" OR "BONDS" MEANS REVENUE BONDS OR NOTES. INCLUDING,
WITHOUT LIMITATION, BOND ANTICIPATION NOTES AND NOTES IN THE NATURE OF
COMMERCIAL PAPER. OR OTHER INSTRUMENTS, CERTIFICATES, OR EVIDENCES OF
OBLIGATION ISSUED AND SOLD OR OFFERED FOR SALE BY THE REDEVELOPMENT
AUTHORITY, INCLUDING REFUNDING OBLIGATIONS.

(C) "COST' MEANS THE COST OF OR EXPENSE ASSOCIATED WITH:

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