OAKLAND

of assessible base, within the Town, in any one year, without limitation, and to pay the
principal and interest coming due on such year on any indebtedness incurred by the
Town pursuant to its borrowing power, providing for the date upon which said tax is to
be levied and the manner in which such tax is to be levied, the date upon which such
taxes shall be due and payable, and providing the Mayor and Town Council discretion
to allow a discount not to exceed five percent on such taxes.

[Section 28-24 of the Charter of the Town of Oakland, Garrett County, as found
in the compilation of Municipal Charters of Maryland (1983 Edition), repealed and
reenacted, with amendments.

Effective Date August 15, 1989]

CHARTER AMENDMENT RESOLUTION NO. 89-0012

A RESOLUTION OF MAYOR AND TOWN COUNCIL OF OAKLAND

adopted pursuant to the authority of Article XI-E of the Constitution of Maryland
(1981 Replacement Volume and 1988 Cumulative Supplement) and Section 13 of
Article 23A of the Annotated Code of Maryland (1987 Replacement Volume and 1988
Cumulative Supplement), to amend the Charter of Mayor and Town Council of
Oakland (as published in Municipal Charters of Maryland, Volume IX, 1983 Edition
and August 1988 Supplement), by repealing and re-enacting, with amendments, Section
28-25 of the Charter, for the purpose of authorizing the Mayor and Town Council of
Oakland to determine by ordinance various matters pertaining to the manner in which,
and the terms and conditions on which, bonds, notes or other evidences of indebtedness
of Mayor and Town Council of Oakland may be issued, sold, delivered, secured and
paid; authorizing the issuance and sale of bonds, notes or other evidences of
indebtedness of Mayor and Town Council of Oakland at either private (negotiated) sale
or public sale; authorizing the issuance and sale of bonds, notes or other evidences of
indebtedness of Mayor and Town Council of Oakland for a price or prices at, above, or
below the par value thereof; authorizing the issuance and sale of bonds, notes or other
evidences of indebtedness of Mayor and Town Council of Oakland at rates of interest
that may be fixed or variable or determined by a method approved by the Mayor and
Town Council; authorizing the issuance and sale of bonds, notes or other evidences of
indebtedness of Mayor and Town Council of Oakland for either cash or other valuable
consideration; authorizing Mayor and Town Council of Oakland to enter into
agreements for the purpose of enhancing the marketability of and as security for bonds,
notes or other evidences of indebtedness of Mayor and Town Council of Oakland;
providing that bonds, notes and other evidences of indebtedness issued and sold by
Mayor and Town Council of Oakland under Section 28-25 of the Charter shall be
obligations of Mayor and Town Council of Oakland to the prompt payment of which its
full faith and credit and unlimited taxing power shall be pledged; generally relating to
the issuance and terms of bonds, notes or other evidences of indebtedness of Mayor and
Town Council of Oakland; and providing the procedures to be followed for the
effectiveness of the Charter amendment adopted by this Resolution.

[Section 28-25 of the Charter of the Town of Oakland, Garrett County, as found

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