THEODORE R. MCKELDIN, GOVERNOR 1603

AUDIT

105. The financial books and accounts of the city shall
be audited as of the thirty-first day of December in each
year by a competent person or persons appointed by the
board of aldermen. The audit shall be presented to the
board of aldermen and to the mayor within ninety days of
the first day of January. The board of aldermen or the
mayor may order an audit of the financial books and ac-
counts of the city by a competent person or persons ap-
pointed by it or him at any time it or he may deem it
proper so to do.

PUBLIC UTILITY REVENUES

106. All revenues from water and sewer operations and
from any other public utilities operated by the city shall
be put into a separate fund to be used for current operat-
ing expenses of these utilities, replacement and extension
of facilities, and payment of interest and principal on
bonds issued for these purposes. If these revenues are
not sufficient, the deficit must be made up from the general
funds of the city. If these revenues exceed the amounts
needed for the above purposes, the surplus may be used
for the general governmental purposes of the city.

TAX LEVY

107. The City of Frederick shall have the power to
levy annually ON THE ASSESSABLE PROPERTY IN
SAID CITY and collect such taxes as in its judgment
may be necessary to pay all the debts, obligations, and ex-
penses of the city government which have been or may
hereafter be lawfully incurred. From the effective date of
the budget, the amount stated therein as the amount to be
raised by the property tax shall constitute a determination
of the amount of the tax levy in the corresponding tax year.

As a part of its taxing power the City of Frederick shall
have the power to levy and to collect a general assessment
on all real property in Frederick to pay for the construc-
tion and/or maintenance of water mains, sewer mains,
public ways, sidewalks, curbs, gutters, and storm water
sewers. This general assessment need not be on the basis
of assessed valuation of the property but may be on any
equitable basis determined by the board of aldermen.

TAXABLE PROPERTY

108. All real and tangible personal property within the
limits of the City of Frederick, or which may have a situs