Elkton                                         2079

of said compliance they shall cause to be affixed to the minutes of this
meeting appropriate certification of publication of the newspaper in which
the title of this Resolution shall have been published and shall declare the
charter amendment hereby enacted to be effective by affixing the signature
of the Mayor in the space provided on the effective date hereof.

The date of enactment of this Resolution for charter amendment is
the 7th day of October, 1970, and said charter amendment shall become
effective fifty (50) days from this date, or the 27th day of November, 1970.

ATTEST:                              THE MAYOR AND COMMISSIONERS

OF THE TOWN OF ELKTON
By: Kenneth A. Wilcox, Mayor

Mary Pippin, Secretary

Resolution amending Section 34 of the Charter of the Town
of Elkton relative to borrowing power; procedure limitation

Resolution of the Mayor and Commissioners of the Town of Elkton,
adopted pursuant to the authority of Article HE of the Constitution
of Maryland, and Section 34 of Article 23A of the Annotated Code of
Maryland (1957 Edition), title "Corporations—Municipal" as said
section was enacted by Chapter 423 of the Laws of Maryland of
1955, and said new section to be known as Section 34 and constituting
an amendment to the municipal charter of the body politic and cor-
porate known as the Mayor and Commissioners of the Town of Elkton,
said new section to change the borrowing power, procedure, limita-
tion for the Town of Elkton.

Whereas, in pursuance of Section 13 of Article 23A of the Annotated
Code of Maryland (1957 Edition) the Mayor and Commissioners of the
Town of Elkton are desirous of amending Section 34 of the Charter of the
Town of Elkton relating to borrowing power, procedure; limitation.

Section 1. BE IT RESOLVED by the Mayor and Commissioners of
the Town of Elkton that Section 34 of the charter of the Town of Elkton
be and it is hereby amended to read as follows:

Section 34.—The board of commissioners shall have the power to bor-
row money for any proper public purpose and to evidence such borrowing
by the issuance and sale of its general obligation bonds in the manner
prescribed by, and pursuant to the authority of, Sections 31 to 39, inclu-
sive, of Article 23A of the Annotated Code of Maryland, 1957; provided,
that the board of commissioners shall issue no bonds pursuant to the fore-
going authority if, by the issuance thereof, the total bonded indebtedness
of the town incurred pursuant to such authority, less the amount of sinking
funds established for the retirement of the property tax levy for the fiscal
year in which the notes or other evidence of indebtedness are issued. All
tax anticipation notes or other evidence of indebtedness may be author-
ized by Resolution of the Town Board before being issued. The Board of
Commissioners shall have the power to regulate all matters concerning the
issuance and sale of tax anticipation notes.

BE IT FURTHER RESOLVED that the date of adoption of this Reso-
lution is October 7, 1970 and the amendment to the charter of the Town
of Elkton by the Mayor and Commissioners of the Town of Elkton hereby
proposed by this enactment shall become effective fifty (50) days after