3671
FRIENDSVILLE

Be it further resolved that the adoption date of
these amendments is October 1, 1973 and shall become
effective October 21, 1973, unless a proper petition for
referendum hereon shall be filed as permitted by law.

FROSTBURG
(Allegany County)

CHARTER AMENDMENT
RESOLUTION NO. 8

RESOLUTION of the Mayor and City Council of
Frostburg, Maryland, adopted pursuant to the authority of
Article 11—E of the Constitution of Maryland, and Section
13 of Article 23A of the Annotated Code of Maryland (1957
Edition, as supplemented and amended), title
"Corporations — Municipal", sub—title "Home Rule",
entitled "A RESOLUTION TO AMEND THE CHARTER OF THE CITY
OF FROSTBURG (1963 EDITION, AS AMENDED), BEING ARTICLE 1A
OF THE CODE OF PUBLIC LOCAL LAWS OF MARYLAND, BY
REPEALING AND RE-ENACTING WITH AMENDMENTS, SECTION 230
THEREOF, SETTING FORTH BORROWING POWER OF CITY."

SECTION 1: BE IT RESOLVED BY THE MAYOR AND CITY
COUNCIL OF FROSTBURG, MARYLAND, That Section 230 of the
Charter of the City of Frostburg (1963 Edition, as
amended) , be and is hereby repealed and re—enacted, with
amendments, to read as follows:

230. Borrowing power.

(A)   . The City shall have the power to borrow money
for any proper public purpose and to evidence such
borrowing by the issue and sale of its general
obligation bonds in the manner prescribed in
Sections 31 to 37, both inclusive, of Article 23A of
the Annotated Code of Maryland (1957 Edition, as
amended), title "Municipal Corporations, subtitle
'Creation of Municipal Public Debt.'"

(B)    THE CITY SHALL HAVE THE POWER TO BORROW MONEY
FOR A PERIOD OF TIME NOT TO EXCEED TEN (10) YEARS
AND IN AN AMOUNT NOT TO EXCEED THREE PER CENT (3%)
OF THE CITY'S ASSESSABLE TAX BASE, AT THE TIME OF