1 24

LAWS OF MARYLAND

Ch. 79

(4) TO INVEST ANY URBAN RENEWAL FUNDS HELD
IN RESERVES OR SINKING FUNDS OR ANY OF THESE FUNDS NOT
REQUIRED FOR IMMEDIATE DISBURSEMENT IN PROPERTY OR
SECURITIES WHICH ARE LEGAL INVESTMENTS FOR OTHER
MUNICIPAL FUNDS;

(D)    (1) TO HOLD, IMPROVE, CLEAR. OR PREPARE FOR
REDEVELOPMENT ANY PROPERTY ACQUIRED IN CONNECTION WITH
URBAN RENEWAL PROJECTS;

(2)    TO MORTGAGE, PLEDGE, HYPOTHECATE OR
OTHERWISE ENCUMBER THAT PROPERTY; AND

(3)    TO INSURE OR PROVIDE FOR THE INSURANCE
OF THE PROPERTY OR OPERATIONS OF THE MUNICIPALITY AGAINST
ANY RISKS OR HAZARDS, INCLUDING THE POWER TO PAY PREMIUMS
ON ANY SUCH INSURANCE;

(E)    TO MAKE AND EXECUTE ALL CONTRACTS AND OTHER
INSTRUMENTS NECESSARY OR CONVENIENT TO THE EXERCISE OF
ITS POWERS UNDER THIS SUBHEADING, INCLUDING THE POWER TO
ENTER INTO AGREEMENTS WITH OTHER PUBLIC BODIES OR
AGENCIES (THESE AGREEMENTS MAY EXTEND OVER ANY PERIOD,
NOTWITHSTANDING ANY PROVISION OR RULE OF LAW TO THE
CONTRARY), AND TO INCLUDE IN ANY CONTRACT FOR FINANCIAL
ASSISTANCE WITH THE FEDERAL GOVERNMENT FOR OR WITH
RESPECT TO AN URBAN RENEWAL PROJECT AND RELATED
ACTIVITIES WHATEVER CONDITIONS IMPOSED PURSUANT TO
FEDERAL LAWS AS THE MUNICIPALITY CONSIDERS REASONABLE AND
APPROPRIATE;

(F)    TO ENTER INTO ANY BUILDING OR PROPERTY IN ANY
URBAN RENEWAL AREA IN ORDER TO MAKE INSPECTIONS, SURVEYS,
APPRAISALS, SOUNDINGS OR TEST BORINGS, AND TO OBTAIN AN
ORDER FOR THIS PURPOSE FROM THE CIRCUIT COURT FOR THE
COUNTY IN WHICH THE MUNICIPALITY IS SITUATED IN THE EVENT
ENTRY IS DENIED OR RESISTED;

(G)    TO PLAN, REPLAN, INSTALL, CONSTRUCT,
RECONSTRUCT, REPAIR, CLOSE OR VACATE STREETS, ROADS,
SIDEWALKS, PUBLIC UTILITIES, PARKS, PLAYGROUNDS, AND
OTHER PUBLIC IMPROVEMENTS IN CONNECTION WITH AN URBAN
RENEWAL PROJECT; AND TO MAKE EXCEPTIONS FROM BUILDING
REGULATIONS;

(H) TO GENERALLY ORGANIZE, COORDINATE AND DIRECT
THE ADMINISTRATION OF THE PROVISIONS OF THIS SUBHEADING
AS THEY APPLY TO THE MUNICIPALITY IN ORDER THAT THE
OBJECTIVE OF REMEDYING SLUM AND BLIGHTED AREAS AND
PREVENTING ITS CAUSES WITHIN THE MUNICIPALITY MAY BE
PROMOTED AND ACHIEVED MOST EFFECTIVELY;

(I) TO EXERCISE ALL OR ANY PART OR COMBINATION OF
THE POWERS GRANTED IN THIS SUBHEADING.

610D. ESTABLISHMENT OF URBAN RENEWAL AGENCY

(A) A MUNICIPALITY MAY ITSELF EXERCISE ALL

THE