ALBERT C. RITCHIE, GOVERNOR. 477

the Town for the fiscal year beginning July first following its
adoption. Said budget shall include a carefully prepared and
itemized estimate of town revenues from all known sources,
including any balance unexpended in the general fund for the
previous year.

(B) Against the total revenues thus estimated the Council
shall apportion such sums as, in their judgment, may be
necessary and proper to meet the various itemized requirements
of the town during the said fiscal year, as far as such require-
ments can be estimated; provided, however, that the total of
such proposed expenditures shall not exceed ninety per cent.
of the estimated revenues of the town; the remaining ten per
cent, of said estimated revenues shall be maintained as a re-
serve to meet extraordinary or unanticipated expenditures as
the Council may direct.

(C) The estimated apportionment of budget allotments
shall be expended as nearly as possible in equal quarterly
amounts; and no item of budget allotments shall be exceeded
except by authority of the Mayor and Council who shall make
provision for any extra requirements without exceeding the
total amount of the budget estimated receipts.

9. (A) On or before the 15th day of March in each suc-
ceeding year, the Council shall, by resolution, appoint one or
more persons whose duty it shall be either to make a new
assessment of all real and personal property within the limits
of the town, according to such regulations as the Council may
prescribe, or to revise the present assessment: (1) by making
such changes or corrections therein as may be deemed just and
proper, (2) by adding thereto any property subject to taxation
not appearing in the previous assessment, and (3) by ascertain-
ing, so far as may be, all changes of ownership up to the
date of such revision; to the end that all property may be
assessed and taxed in the names of the legal owners 1 hereof at
the time of the annual assessment or revision; provided, how-
ever, that in the case of property passing by descent, or prop-
erty in the course of administration under will or otherwise,
it shall be sufficient to assess and tax the same to the "estate"
of the deceased owner, and provided further, that if the owner-
ship of any property cannot, by reasonable diligence, be ascer-
tained, the same may be taxed to the occupant thereof, and if
there be 110 occupant, then to "unknown owner. "