THEODORE R. MCKELDIN, GOVERNOR 561

General Assembly, the same shall take effect from the date
of its passage.

Approved April 6, 1953.

CHAPTER 299
(Senate Bill 451)

AN ACT to add a new section to Article 12 of the Code
of Public Local Laws of Maryland (1930 Edition), title
"Garrett County", said new section to be known as
Section 459A, to follow immediately after Section 459
thereof and to be under the sub-title "Oakland", author-
izing and empowering the Mayor and Town Council of
Oakland to borrow for general purposes of the Town of
Oakland and relating generally to the provisions and
procedures applicable for such borrowing.

SECTION 1. Be it enacted by the General Assembly of Maryland,
That a new section be and it is hereby added to Article 12
of the Code of Public Local Laws of Maryland (1930
Edition), title "Garrett County", said new section to be
known as Section 459A, to follow immediately after Sec-
tion 459 thereof and to be under the sub-title "Oakland",
and to read as follows:

459A. The Mayor and Town Council of Oakland is
hereby authorized and empowered, within the provisions
of this section, to borrow such sum or sums of money as,
in its discretion, may be necessary from time to time for
any municipal purpose whatever. The sum or sums of
money borrowed and outstanding at any one time, under
the provisions of this section, shall not exceed a sum which
is equal to one per cent. (1%) of the assessed valuation
of all property which has been assessed for tax purposes
within the corporate limits of the Town of Oakland. The
Mayor and Town Council is authorized to evidence such
borrowing by the issuance of bonds or other certificates
of indebtedness and to provide for the levy and collection
of all taxes necessary and sufficient for the payment of
the principal and interest on said bonds as the same,

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EXPLANATION: Italics indicate new matter added to existing law.

[Brackets] indicate matter stricken from existing law.
CAPITALS indicate amendments to bill.
Strike out indicates matter stricken out of bill.