4606

MUNICIPAL CHARTERS

A LIST OF ALL PROPERTY ON WHICH THE TOWN TAXES HAVE
NOT BEEN PAID AND WHICH ARE IN ARREARS AS PROVIDED BY #57
OF THIS CHARTER SHALL BE TURNED OVER BY THE
CLERK-TREASURER TO THE OFFICIAL OF THE COUNTY RESPONSIBLE
FOR THE SALE OF TAX-DELINQUENT PROPERTY AS PROVIDED IN
STATE LAW. ALL PROPERTY LISTED THEREON, IF NECESSARY,
SHALL BE SOLD FOR TAXES BY THIS COUNTY OFFICIAL, IN THE
MANNER PRESCRIBED BY STATE LAW.

59. FEES.

ALL FEES RECEIVED BY AN OFFICER OR EMPLOYEE OF THE
TOWN GOVERNMENT IN HIS OFFICIAL CAPACITY SHALL BELONG TO
THE TOWN GOVERNMENT AND BE ACCOUNTED FOR TO THE TOWN.

6 0. AUDIT.

THE FINANCIAL BOOKS AND ACCOUNTS OF THE TOWN SHALL
BE AUDITED ANNUALLY AS REQUIRED BY #40 OF ARTICLE 19 OF
THE ANNOTATED CODE OF MARYLAND (1957 EDITION, AS
AMENDED).

61.  TAX ANTICIPATION BORROWING.

DURING THE FIRST SIX MONTHS OF ANY FISCAL YEAR, THE
TOWN MAY BORROW IN ANTICIPATION OF THE COLLECTION OF THE
PROPERTY TAX LEVIED FOR THAT FISCAL YEAR, AND MAY ISSUE
TAX ANTICIPATION NOTES OR OTHER EVIDENCES OF INDEBTEDNESS
AS EVIDENCE OF SUCH BORROWING. SUCH TAX ANTICIPATION
NOTES OR OTHER EVIDENCES OF INDEBTEDNESS SHALL BE A FIRST
LIEN UPON THE PROCEEDS OF SUCH TAX AND SHALL NATURE AND
BE PAID NOT LATER THAN SIX MONTHS AFTER THE BEGINNING OF
THE FISCAL YEAR IN WHICH THEY ARE ISSUED. NO TAX
ANTICIPATION NOTES OF OTHER EVIDENCES OF INDEBTEDNESS
SHALL BE ISSUED WHICH WILL CAUSE THE TOTAL TAX
ANTICIPATION INDEBTEDNESS OF THE TOWN TO EXCEED FIFTY PER
CENTUM (50%) OF THE PROPERTY TAX LEVY FOR THE FISCAL YEAR
IN WHICH THE NOTES OR OTHER EVIDENCES OF INDEBTEDNESS ARE
ISSUED. ALL TAX ANTICIPATION NOTES OR OTHER EVIDENCE OF
INDEBTEDNESS BY ORDINANCE BEFORE BEING ISSUED. THE
COUNCIL SHALL HAVE THE POWER TO REGULATE ALL MATTERS
CONCERNING THE ISSUANCE AND SALE OF TAX ANTICIPATION
NOTES.

62.  PAYMENT OF INDEBTEDNESS.

THE POWER AND OBLIGATION OF THE TOWN TO PAY ANY AND
ALL BONDS, NOTES, OR OTHER EVIDENCES OF INDEBTEDNESS
ISSUED BY IT UNDER THE AUTHORITY OF THIS CHASTER SHALL BE
UNLIMITED AND THE TOWN SHALL LEVY AD VALOREM TAXES UPON
ALL THE TAXABLE PROPERTY OF THE TOWN FOR THE PAYMENT OF
SUCH BONDS, NOTES, OR OTHER EVIDENCES OF INDEBTEDNESS AND
INTEREST THEREON, WITHOUT LIMITATION OF AMOUNT. THE
FAITH AND CREDIT OF THE TOWN IS HEREBY PLEDGED FOR THE