2124                                 MUNICIPAL CHARTERS

MONEY FOR CAPITOL IMPROVEMENTS TO BE FINANCED IN WHOLE
OR IN PART BY THE ISSUANCE OF BONDS, NOR THE MAKING OF
CONTRACTS OR LEASE OR FOR SERVICES FOR A PERIOD
EXCEEDING THE BUDGET YEAR IN WHICH SUCH CONTRACT IS
MADE, WHEN SUCH CONTRACT IS PERMITTED BY LAW.

42-0 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. AN UNEXPENDED OR
UNENCUMBERED FUND SHALL BE CONSIDERED A SURPLUS AT
THE END OF THE BUDGET YEAR AND SHALL BE INCLUDED AMONG
THE ANTICIPATED REVENUES FOR THE NEXT SUCCEEDING YEAR
(BUDGET YEAR).

43-0 CHECKS. ALL CHECKS ISSUED IN PAYMENT OF SALARIES OR
OTHER MUNICIPAL OBLIGATIONS SHALL BE ISSUED AND SIGNED
BY THE CLERK-TREASURER AND THE MAYOR WITH THE
APPROVAL OF A VOUCHER OF THE TOWN ADMINISTRATOR.

44-0 TAXABLE PROPERTY. ALL REAL PROPERTY AND ALL
TANGIBLE PERSONAL PROPERTY WITHIN THE CORPORATE LIMITS
OF THE TOWN, OR PERSONAL PROPERTY WHICH MAY HAVE A
SITUS THERE BY REASONS OF RESIDENCE OF THE OWNER
THEREIN, SHALL BE SUBJECT TO TAXATION FOR MUNICIPAL
PURPOSES, AND THE ASSESSMENT USED SHALL BE THE SAME AS
THAT FOR THE 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.

45-0 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.

46-0 NOTICE OF TAX LEVY. IMMEDIATELY AFTER THE LEVY IS
MADE BY THE MAYOR AND COUNCIL IN EACH YEAR, THE TOWN
ADMINISTRATOR 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.

47-0 WHEN TAXES ARE OVERDUE. THE TAXES PROVIDED FOR IN
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