3148

MUNICIPAL CHARTERS

Article 23A of the Annotated Code of Maryland (1973
Replacement Volume), titled "Corporations-Municipal", to
repeal and re-enact Section 72 of the Charter of the City
of Annapolis for the purpose of increasing from one
hundred fifty thousand dollars ($150,000.) to five
hundred thousand dollars ($500,000.) the amount of
aggregate principal amount of notes the Mayor and
Aldermen of the City of Annapolis may at any time issue
and have outstanding and unpaid pursuant to Section 70 of
the Charter, and all matters relating generally.

[Section 72 of the Charter of the City of Annapolis,
repealed and reenacted, with amendments.

Effective Date September 2, 1975]

CA-5-75

RESOLUTION

OF THE

MAYOR AND ALDERMEN OF THE

CITY OF ANNAPOLIS

TO AMEND THE CITY CHARTER

BY ADDING ONE (1) NEW SECTION

NAMELY SECTION 50

Resolution of the Mayor and Aldermen of the City of
Annapolis, adopted pursuant to the authority of Article
11E of the Constitution of the State of Maryland and
Article 23A of the Annotated Code of Maryland (1973
Replacement Volume), titled "Corporations—Municipal", to
amend and add one (1) new Section 50 to the Charter of
the City of Annapolis for the purpose of expressly
authorizing the Mayor and Aldermen to provide by
ordinance for inter-fund cash borrowings to meet
temporary cash requirements and to permit reimbursement
among funds for services rendered; that this Resolution
shall not affect the validity of prior borrowings and
reimbursements; and all matters relating generally.

WHEREAS, It is advisable that the Mayor and Aldermen
effect inter—fund temporary borrowings to meet cash needs
and avoid more costs; and

WHEREAS, The Mayor and Aldermen has borrowed
previously and deems it desirable to formalize the
procedure for the future.

[Section 50 of the Charter of the City of Annapolis,
added.

Effective Date August 19, 1975]