THEODORE R. MCKELDIN, GOVERNOR 1231

erty in the Town for its general corporate and municipal
purposes not to exceed Seventy-five Cents (75¢) on each
one hundred dollars worth in any one year, provided that
nothing in this section shall be so construed as to relieve
the Town Commissioners from levying any taxes for pay-
ment of any bond or interest thereon on any present or
future bonded indebtedness of said Town, which is now,
or may be, by any law required to be levied.

87. (Additional Powers) The Town Commissioners
are authorized and directed to levy annually on the assess-
able property in the Town, in addition to all other taxes
which they are authorized to levy, a sum of money, not
to exceed seven cents (7¢) on each one hundred dollars
worth in any one year, as a special tax for the housing,
use, maintenance and equipment of the Good Will Fire
Company, Inc., the volunteer fire company now organized
in said Town, and for the housing, use, maintenance and
equipment of its successor if said company shall cease to
exist, the said additional or special tax to be made and
levied at the time of levying other taxes for the use of the
Town and to be collected at the same time and in the same
manner that the other taxes levied for the use of said
Town are collected, all provisions of law for the collection
thereof being hereby made applicable to the collection of
said special tax.

88. (Exemptions) (a) All land and farm property
included within the present limits of the Town and now
operated solely as a farm shall be exempt from Town
taxation so long as it is used and operated as a farm.

(b) All assessable property, both real and personal,
within that portion of said Town which, for the first time
became a part of the Town by Chapter 837, Laws of Mary-
land 1947, shall be forever exempt from any taxes levied
for the payment of any bonds, or interest thereon, author-
ized prior to the passage of Chapter 837 aforesaid, with
the exception of twenty-five per centum (25%) of the
bonds, and interest thereon, issued pursuant to the author-
ity of Chapter 526 of the Laws of Maryland 1947.

(c) The Town Commissioners are authorized and em-
powered to make contracts exempting from Town taxation
the real and personal property or capital stock of any new
manufacturing company or other enterprise, as an induce-
ment to locate in the Town. Any such contract shall be
limited as to time, and shall not extend such exemption for
a period longer than five (5) years.