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Session Laws, 1947
Volume 411, Page 589   View pdf image (33K)
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WM. PRESTON LANE, JR., GOVERNOR. 589

books, and give their evidences of indebtedness, all of which
must mature within twenty years. The Treasurer of said
town shall have the custody of money so borrowed and shall
give such additional bond as the Town Council may require.
The said Treasurer shall keep the proceeds of the aforesaid
assessments in a separate fund to be applied only to the
liquidation of such indebtedness.

57B. (Town Expenditures and Borrowing Power.) The
Mayor and Town Council shall not in any one year expend
for general purposes of the town, more money than the
amount receivable from taxes and the amounts they shall
have received from the road authorities of Prince George's
County or the State, or from any other source, and no con-
tract for such excessive expenditure shall be enforceable
against them. Nothing in this section shall be construed
to prevent the Mayor and Town Council from making any
agreements or contracts for any special purposes to be pay-
able out of the funds to be thereafter derived from special
sources for such special purposes. Nor shall anything herein
be construed to prevent the Mayor and Town Council from
borrowing on short term notes or certificates of indebted-
ness, for a period of not to exceed three years, such amount,
which shall at no time exceed $5,000.00 as may be required
to care for a temporary need, resulting from the delayed
payment of taxes or unforseen expenses of an emergency
nature. Any amount borrowed under the provisions of this
section shall bear a rate of interest not to exceed six per
centum (6%) per annum, and shall be repaid within the
three year period from the proceeds of the regular annual
tax levy, which rate of levy shall be adjusted to provide the
required funds.

57C. (Taxation of Rural Areas.) Rear property, Avithin
the Town of Bladensburg, having the character of rural and
undeveloped and unimproved land, woodland, or land pri-
marily for farming purposes shall be a class of property and
a rate of tax may be levied thereon different from the rate
to be levied on all other property within the Town, and said
different rate of tax on said class shall not at no time exceed
$0.15 on the One Hundred Dollars ($100.00) assessed valua-
tion.

ADOPTION OF CHARTER

SEC. 2. And be it further enacted, That for the purposes of
determining whether the other provisions of this Act shall
becomes effective and the citizens living in the wards and ward

 

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Session Laws, 1947
Volume 411, Page 589   View pdf image (33K)
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