2132                               Municipal Charters

MORNINGSIDE

Prince George's County

Resolution No. 71-1
Charter Amendment No. 1

THE MAYOR AND TOWN COUNCIL OF MORNINGSIDE,
PRINCE GEORGE'S COUNTY, MARYLAND

A Resolution of the Mayor and Town Council of Morningside,
adopted pursuant to the authority of Article XI E of the Constitution of
Maryland and of Article 23A of the Annotated Code of Maryland (1957
edition, as amended) title "Corporations—Municipal" to amend the Char-
ter of the Town of Morningside, eliminating the five per cent per annum
limit on interest rate payable on town bonds or certificates of indebtedness,
by repealing Section 52-52 (51A in original charter) of the Prince
George's County Code of Public Local Laws, 1963, as amended, and enact-
ing in lieu thereof a new Section 52-52 authorizing the Mayor and Town
Council to borrow such sums of money on the credit of the Town as neces-
sary to accomplish certain municipal improvements and provide for the
general welfare and general corporate purposes of the Town; limiting such
sums outstanding at any one time to a total of ten per centum of the
assessed valuation of assessable property in the Town; providing for the
deposit, safekeeping and use of such funds, and authorizing the issuance
of bonds or certificates of indebtedness or other evidences of debt to be
payable within a period of thirty years.

Section 1. Be it Resolved, Ordained and Enacted by the Mayor and
Town Council of Morningside by authority of Article XI E of the Consti-
tution of Maryland and of Article 23A of the Annotated Code of Maryland
(1957 edition, as amended) that Section 52-52 of the Prince George's
County Code of Public Local Laws, 1963 edition, as amended, be and the
same is hereby repealed and new Section 52-52 is hereby enacted in lieu
thereof, to read as follows:

52-52. Indebtedness for municipal improvements.

To effectuate the construction of streets, gutters, storm sewers, storm
drains and storm and surface water drainage systems, and parts thereof,
and to construct or acquire other public improvements, structures and
buildings, and to acquire sites therefor, and to acquire equipment, and to
implement or effectuate the authority provided for in other sections of this
charter for the general welfare of the town and its general corporate pur-
poses, the mayor and town council are authorized and empowered to borrow
on the credit of the Town from time to time such sum or sums of money as
may be found to be necessary to accomplish any of the foregoing; provided,
however, that such sum or sums shall not at any time exceed in amount the
total of ten per centum (10%) of the assessed valuation of all assessable
property in the Town appearing on the assessment books of Prince George's
County, State of Maryland, and in determining whether said debt limita-
tion shall have been reached at any time the Town shall not take into
account any bonds or certificates of indebtedness or promissory notes issued
or executed in pursuance of authority contained in this charter which have
been retired or paid by the town at maturity, or purchased, or paid by it in
advance of maturity. The Mayor and Town Council are authorized to issue
bonds or certificates of indebtedness for such borrowing or borrowings, in
the name of the town, and to make and give other evidences of such debt,
including promissory notes, all of which shall be payable within a period