HERBERT R. O'CONOR, GOVERNOR. 159

Local Laws of Maryland (1930 Edition), title "Allegany
County", sub-title "Frostburg", sub-heading "Taxes", as en-
acted by Chapter 435 of the Acts of 1933, be and it is hereby
repealed and re-enacted, with amendments, to read as follows:

205. The Mayor and Councilmen of Frostburg shall cause
to be assessed annually, as of the date of finality, all property,
real, personal or otherwise, within said City, and all securities
or other intangible property liable to State and County taxes,
and for any assessments said Mayor and Councilmen shall
accept any valuation theretofore placed thereon by the State
and County assessment, or by the State Tax Commission
assessment, upon the respective classes of property within
said City.

Said Mayor and Councilmen of Frostburg shall have power
to levy and collect a tax on the assessable property of said
City for the general purposes of, said corporation, not exceed-
ing in any one year one dollar ($1. 00) on each one hundred
dollars' worth of said assessable property, and, in addition,
to levy and collect such other tax, as may be necessary to
pay the interest on all bonds or other indebtedness of said
City and to provide a sinking fund for the redemption or
payment thereof at maturity; provided, however, that all
present and future bonded ami floating indebtedness of said
City (exclusive of the indebtedness of the Water Department
of said City) shall not exceed at any one time seven per cent,
of the assessed valuation of the property in said City, unless
special authority for such excess has either heretofore been
given, or shall in the future be given, by some special Act of
the General Assembly of Maryland.

The said Mayor and Councilmen of Frostburg shall have
and are hereby given express power and authority to borrow
from time to time, if and as needed, for its immediate and
usual corporate purposes, such sum or sums of money as may
be necessary for such purposes, and to pledge the faith and
credit of the City therefor; provided, however, that such sum
or sums of money hereby authorized to be borrowed shall not
exceed in the aggregate the total uncollected estimated receipts
for the current fiscal year; provided further, that any sum
or sums of money so borrowed, and the interest due thereon,
in pursuance of the authority hereby given, shall be repaid
out of the taxes levied, collected or due and the interest paid
thereon for the current fiscal year in which such sum or
sums of money were borrowed, and/or from, any other corpo-
rate income (other than Water Department income) due in
such current fiscal year.

And the said Mayor and Councilmen of Frostburg shall
have the further power and authority, in case of an emer-
gency, to borrow such sum of money as may be necessary for