THEODORE R. McKELDIN, GOVERNOR                     391

year in which such contract is made, when such contract is permitted
by law.

52. (Appropriations Lapse After One Year.) All appropriations
shall lapse at the end of the budget year to the extent that they
shall not have been expended or lawfully encumbered. Any unex-
pended and unencumbered funds shall be considered a surplus at the
end of the budget year and shall be included among the anticipated
revenues for the next succeeding budget year.

53. (Checks.) All checks issued in payment of salaries or other
municipal obligations shall be issued and signed by the clerk-treas-
urer and shall be countersigned by the mayor.

54. (Taxable Property.) All real property and all tangible per-
sonal property within the corporate limits of the town, or PER-
SONAL PROPERTY which may have a situs there by reason of the
residence of the owner therein, shall be subject to taxation for mu-
nicipal purposes, and the assessment used shall be the same as that
for State and county taxes. No authority is given by this section to
impose taxes on any property which is exempt from taxation by any
Act of the General Assembly.

55.    (Budget Authorizes Levy.) 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.

56.    (Notice of Tax Levy.) Immediately after the levy is made
by the council in each year, the clerk-treasurer shall give notice of
the making of the levy by posting a notice thereof in some public
place or places in the town. He shall make out and mail or deliver
in person to each taxpayer or his agent at his last known address
a bill or account of the taxes due from him. This bill or account shall
contain a statement of the amount of real and personal property with
which the taxpayer is assessed, the rate of taxation, the amount of
taxes due, and the date on which the taxes will bear interest. failure
to give or receive any notice required by this section shall not relieve
any taxpayer of the responsibility to pay on the dates established
by this charter all taxes levied on his property.

57.    (When Taxes are Overdue.) The taxes provided for in Sec-
tion 55 of this charter shall be due and payable on the first day of
July in the year for which they are levied and shall be overdue and
in arrears on the first day of the following November. They shall
bear interest while in arrears at the rate of one-half of one per centum
(0.5%) for each month or fraction of a month until paid. All taxes
not paid and in arrears after the first day of the following January
shall be collected as provided in Section 58.

58.    (Sale of Tax Delinquent Property.) A list of all property
on which the town taxes have not been paid and which are in arrears
as provided by Section 57 of this Charter shall be turned over by the
clerk-treasurer to the official of the county responsible for the sale
of tax delinquent property as provided in State law. All property
listed thereon shall if necessary be sold for taxes by this county of-
ficial, in the manner prescribed by State law.