2072                               Municipal Charters

95A. Borrowing powers for public improvements; limitations and
referendum.

Subject to the referendum hereinafter provided, whenever the Mayor
and Council of Boonsboro has insufficient funds on hand to make needed
improvements or additions to existing water, sewer or other public facilities
of the Town, the Mayor and Council of Boonsboro are hereby authorized
and empowered to borrow on the faith and credit of the said Town of
Boonsboro for the payment of the costs of such improvements or additions
to existing water, sewer or other public facilities, for a period of time not to
exceed ten years, a sum or sums of money not to exceed Thirty Thousand
(30,000) Dollars in the aggregate outstanding at any one time and to issue
for such indebtedness or indebtednesses the note or notes of the Mayor
and Council of Boonsboro, said note or notes to be signed by the Mayor of
said Boonsboro and countersigned by the Clerk of the Mayor and Council of
Boonsboro and to bear interest from the date of its or their issue, provided
that, before any such indebtedness or indebtednesses is or are incurred,
the approval of the majority of the voters of the Town of Boonsboro
voting thereon is given upon referendum at a general or special election
of the voters of the said Town, and provided further that a notice of such
referendum shall be published in some newspaper of general circulation
in said Town at least once a week for two consecutive weeks prior to such
election and that such notice shall fully set forth the purpose of such bor-
rowing, the amount to be borrowed, the period of time and terms for its
repayment, and the effective interest rate to be payable thereon, and pro-
vided still further that nothing herein contained shall be construed as lim-
iting the power of the said Mayor and Council of Boonsboro to borrow
money under any Law of the State of Maryland authorizing the same and
from issuing its bonds, tax or bond anticipation notes or other evidences
of indebtedness therefor, with or without a referendum thereon as may be
provided in said enabling act.

Section 2. AND BE IT FURTHER RESOLVED that the date of
adoption of this Resolution is December 7, 1970, and the amendment of
the Charter of the Mayor and Council of Boonsboro hereby enacted shall
become effective January 26, 1971, unless a proper petition for a referendum
hereon shall be filed, as permitted by law, provided a clear and exact copy
of this Resolution shall be continuously posted on the bulletin board in the
Town Hall until January 16, 1971, and provided further that a fair sum-
mary of the amendment proposed hereby shall be published in a newspaper
of general circulation in the Town of Boonsboro not less than four times,
at weekly intervals before the said 16th day of January 1971.

Section 3. AND BE IT FURTHER RESOLVED that the Mayor is
hereby specifically enjoined to carry out the provisions of Section 2 hereof
and, as evidence of said compliance, the Mayor shall cause to be affixed to
the minutes of this meeting appropriate certificate of publication of the
newspaper in which a fair summary of the amendment proposed hereby
was published, and shall declare the Charter amendment hereby proposed
to be effective by affixing his signature hereto in the space provided on
the effective date thereof.

Section 4. AND BE IT FURTHER RESOLVED that as soon as the
Charter Amendment hereby proposed shall become effective, either as
herein provided or following a referendum, the Mayor shall send separately
by registered mail to the Secretary of State of Maryland and to the Depart-
ment of Legislative Reference of Maryland a clear certified copy of the
full text of said new Section 95A of the Charter of the Mayor and Council