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Session Laws, 1970
Volume 695, Page 2251   View pdf image
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Brunswick                                       2251

the Public Local Laws of Frederick County (1968 Edition), which proposed
new section related to the issue and sale of general obligation bonds, bond
anticipation notes and tax anticipation notes by Brunswick; and

Whereas, the publication of the title of the Resolution in a newspaper
of general circulation in Brunswick within not less than four (4) times
at weekly intervals before January 20, 1969, was not accomplished as
provided in Section 2 of the Resolution; now therefore

Section 1. BE IT RESOLVED by the Mayor and Council of Brunswick
that the action taken at its regular meeting held on December 10, 1968,
in passing a Charter Amendment Resolution be, and it is hereby, ratified,
and that said Resolution be, and it is hereby, re-enacted, the Charter of
The Mayor and Council of Brunswick, a municipal corporation of the
State of Maryland, being amended by adding new Section 16-10 to the
Code of Public Local Laws of Frederick County (1968 Edition) to follow
immediately after Section 16-9 thereof and to read as follows:

(a)    The Mayor and Council of Brunswick shall have the power to
borrow money for any public purpose, including the refinancing of any
outstanding indebtedness, and to evidence such borrowing by the issue and
sale of its general obligation bonds, or notes issued in anticipation thereof,
and shall likewise have authority to borrow money in anticipation of the
receipt of current taxes and to evidence such borrowing by the issue and
sale of its tax anticipation notes, payable as to principal and interest
from said taxes when received, the same to be issued and sold in the
manner prescribed in Sections 31-37, inclusive, of Article 23A of the
Annotated Code of Maryland (1966 Replacement Volume), title "Cor-
porations
Municipal," subtitle "Home Rule," subheading "Creation of
Municipal Public Debt," provided, however, that if the ordinance or ordi-
nances authorizing the issue and sale of any of such bonds or notes shall
so specify, the bonds or notes may be sold at private sale, without adver-
tisement or publication of notice of sale, or solicitation of competitive bids.

(b)    The issuance and sale of such general obligation bonds, or tax
anticipation notes, shall constitute a pledge of the full faith and credit
of The Mayor and Council of Brunswick to the prompt payment, when due,
from ad valorem taxes and such other revenues as may be described in
the authorizing ordinance or ordinances, of the principal of and interest
on such bonds or notes. The maturing principal of and interest on any
general obligation bonds may be paid, in whole or in part, from the pro-
ceeds of such benefit assessments or charges, or any combination thereof,
as the Mayor and Council may impose and collect during the life of the
bonds, power and authority so to do being hereby specifically granted
where appropriate to the public purpose for which the bonds may be
issued. In any event, the Mayor and Council shall, if and to the extent
necessary, annually levy upon all property subject to taxation within the
corporate limits of Brunswick ad valorem taxes sufficient to provide for
the payment of the maturing principal of and interest on any such bonds
or notes, without limitation as to rate or amount, notwithstanding any
limitation contained in this Charter or in any other law, and the issuance
and sale of any such bonds or notes shall constitute a covenant to that
effect.

(c)    In order to carry out the meaning and intent of this section,
the Mayor and Council are empowered to do all things and to take any
action, by ordinance or otherwise, deemed necessary for the regulation,
efficient operation and maintenance of any work, plant or system of public


 

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Session Laws, 1970
Volume 695, Page 2251   View pdf image
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