Ch. 266

1996 LAWS OF MARYLAND

(II) SHALL NOT BE CONSIDERED OBLIGATIONS OF THE COUNTY
FOR PURPOSES OF ANY DEBT LIMITATION IMPOSED ON THE COUNTY UNDER ANY
CONSTITUTIONAL, STATUTORY. OR CHARTER PROVISION; AND

(III) SHALL BE APPROVED BY THE GOVERNING BODY OF THE
COUNTY PRIOR TO THEIR ISSUANCE

(2) THE BONDS. THE BORROWING WHICH THEY REPRESENT. AND THE
UNDERTAKING WHICH IS BEING FINANCED OR REFINANCED, ARE NOT SUBJECT TO
ANY REFERENDUM REQUIREMENTS OF THE CHARTER OF THE COUNTY.

(C) (1) BONDS MAY BE MADE PAYABLE AS TO PRINCIPAL, INTEREST, AND
REDEMPTION PREMIUM AS DETERMINED IN ACCORDANCE WITH LOCAL LAW.
INCLUDING FROM INCOME. RECEIPTS. PROCEEDS. REVENUES. AND FUNDS OF THE
REDEVELOPMENT AUTHORITY DERIVED FROM OR AVAILABLE OR TO BE
AVAILABLE IN CONNECTION WITH ANY UNDERTAKING FOR THE ACCOMPLISHMENT
OF THE PURPOSES AND OBJECTIVES MENTIONED IN OR CONTEMPLATED BY THIS
SUBTITLE, INCLUDING:

(I) THE PROCEEDS OF LOANS. GRANTS OR CONTRIBUTIONS FROM
THE UNITED STATES OF AMERICA OR THE STATE OF MARYLAND, OR ANY
DEPARTMENT OR AGENCY THEREOF, OR FROM ANY FUNDS OF THE COUNTY THAT
MAY BE LAWFULLY AVAILABLE THEREFOR, OR ANY OTHER SOURCE AND
COMPENSATION PAID FROM APPROPRIATED FUNDS BY THE COUNTY FOR LAND OR
PROPERTY RETAINED BY IT; OR

(II) ANY CONTRACT OR AGREEMENT OR RIGHTS THEREUNDER
BETWEEN THE UNITED STATES OF AMERICA OR THE STATE OF MARYLAND, OR ANY
DEPARTMENT OR AGENCY THEREOF, OR ANY OTHER PUBLIC OR PRIVATE ENTITY
OR INDIVIDUAL, AND THE REDEVELOPMENT AUTHORITY WITH RESPECT TO ANY
UNDERTAKINGS FOR THE ACCOMPLISHMENT OF THE PURPOSES AND OBJECTIVES
MENTIONED IN OR CONTEMPLATED BY THE PROVISIONS OF THIS SUBTITLE.

(2) PAYMENT OF THE BONDS, AS TO PRINCIPAL, INTEREST. AND
REDEMPTION PREMIUM. MAY BE FURTHER SECURED BY A MORTGAGE OF ALL OR
ANY PART OF LAND, PROPERTY, OR DEVELOPMENT OR REDEVELOPMENT
PROJECTS, TITLE TO WHICH IS IN THE REDEVELOPMENT AUTHORITY OR ANY
OTHER PUBLIC OR PRIVATE ENTITY OR INDIVIDUAL, AS DETERMINED IN
ACCORDANCE WITH LOCAL LAW.
(D) BY RESOLUTION, THE REDEVELOPMENT AUTHORITY MAY DETERMINE
ALL MATTERS WITH RESPECT TO THE ISSUANCE SALE DELIVERY, AND PAYMENT
OF AND FOR THE BONDS, INCLUDING, WITHOUT LIMITATION, THE ISSUE DATE OR
DATES, MATURITY OR MATURITIES, INTEREST RATE OR RATES OR MANNER OF
DETERMINING THE SAME, TERMS, FORM OR FORMS, DENOMINATION OR
DENOMINATIONS, MANNER OF EXECUTION, PLACE OR PLACES OF PAYMENT.
SOURCE OR SOURCES OF PAYMENT. REDEMPTION. REFUNDING. SALE PRICE
MANNER OF SALE SECURITY, AND THE FORMS OF ANY NECESSARY OR
APPROPRIATE DOCUMENTS, INCLUDING, WITHOUT LIMITATION, TRUST
INDENTURES, ESCROW AGREEMENTS, AND MORTGAGES.

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