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MUNICIPAL CHARTERS

prompt payment, when due, from ad valorem taxes and such
other revenues as may be described in the authorizing
ordinance or ordinances of the principal of and, interest
on such bonds or notes. The maturing principal of and
interest on any general obligation bonds may be paid in
whole or in part from the proceeds of benefit assessments
or other revenues; but, in any event, the Council shall,
if and when necessary, annually levy upon all property
within its corporate limits subject to ad valorem taxes,
taxes sufficient to provide for the payment of the
maturing principal and interest on any such bonds or
notes, without limitation of law, and the issuance and
sale of any such bonds or notes shall constitute a
covenant to that effect.

SECTION II. AND BE IT FURTHER RESOLVED, ENACTED AND
ORDAINED BY THE CITY COUNCIL OF THE CITY OF FRUITLAND,
MARYLAND, that this Charter Amendment shall take effect
fifty (50) days from the date of passage thereof.

Approved April 23, 1974.

RESOLUTION NO. 6 - 1974

A PROPOSED CHARTER AMENDMENT

ENTITLED

A RESOLUTION to repeal Section 113 O of the Charter
of the City of Fruitland and to re—enact in place thereof
a new Section 113 O, said new section continuing the
provision that the City shall have the right to exempt
from taxation the building and equipment of new
industries locating within the City or newly annexed into
the City for periods not to exceed five (5) years; and
adds the further provisions in order to encourage the
growth of manufacturing in the City that manufacturing
machinery used by any industry in the City shall become
totally tax exempt in installments: fifty percent (50%)
of the assessed value becoming exempt on July 1, 1975;
seventy—five percent (75%) on July 1, 1976; and totally
exempt beginning on July 1, 1977.

Section I: BE IT RESOLVED, ENACTED, AND ORDAINED BY
THE CITY COUNCIL OF THE CITY OF FRUITLAND, MARYLAND, by
virtue of the authority granted in Article 11E of the
Constitution of Maryland and Section 13 of Article 23A of
the Annotated Code of Maryland (1973 Replacement Volume)
Title Corporations Municipal "Subtitle Home Rule" that
Section 113 O of the Charter of the City of Fruitland, as
revised by Resolution 1-1972 be and the same is hereby