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Session Laws, 1949
Volume 590, Page 159   View pdf image (33K)
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WM. PRESTON LANE, JR., GOVERNOR. 159

impose a just valuation thereon, provided, however, that
land located within the City limits and the farm buildings
thereon and used exclusively for agricultural purposes
shall be exempt from assessment and taxation for munic-
ipal purposes; and there shall be a uniform rate of taxa-
tion for the property located within the corporate limits
of Hagerstown.

32. The Council shall annually levy on the assessable
property of the City all needful taxes for general purposes
and such further sums that are now or may hereafter be
authorized by law for the liquidation of indebtedness; the
said levy shall not be made in gross, but shall designate
the particular heads for which it is to be expended; such
taxes when levied shall be a lien upon property as now
provided by law, and shall be collected as State and County
taxes are collected, unless the Council shall adopt some
other mode by ordinance for the collection of the same.

33. (a) Whenever the amount of taxes collected in
the City of Hagerstown shall be insufficient for the pay-
ment of current expenses, retirement of maturing bonds,
the payment of the interest on its Bonded Indebtedness
and for other Municipal Expenditures, the Council of
Hagerstown is hereby authorized and empowered to bor-
row upon the faith and credit of said City of Hagerstown,
for the payment of current expenses, retirement of matur-
ing bonds, the payment of the interest on its Bonded In-
debtedness and for other Municipal Expenditures, for a
period of time not to exceed one year, a sum or sums of
money not to exceed $150, 000. 00 in the aggregate, in any
one year, and to issue for said indebtedness the note or
notes of the City of Hagerstown, said note or notes to be
signed by the Mayor of said Hagerstown, and to bear
interest from the date of their issue.

. (b) In the event that the Council of Hagerstown desires
to borrow an amount in excess of $150, 000. 00 for a period
in excess of one (1) year, for Municipal purposes and to
issue bonds of the City of Hagerstown for such indebted-
ness, the Council is hereby authorized and empowered to
borrow such sum and issue said bonds, provided, however,
that approval of the majority of the voters of Hagerstown
voting thereon is given upon referendum at a General or
Special election of the voters of the City of Hagerstown.

34. The Council of Hagerstown is hereby authorized
and empowered to exempt from municipal taxation for a
period of years, not exceeding five, such factories, manu-

 

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Session Laws, 1949
Volume 590, Page 159   View pdf image (33K)
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