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SALISBURY
CITY GENERAL TAX REVENUES OUTSTANDING AT THE TIME ANY SUCH
BONDS ARE ISSUED SHALL NOT EXCEED AN AMOUNT EQUAL TO FOUR
PERCENT OF THE ASSESSED VALUATION OF ALL REAL PROPERTY SUBJECT
TO TAXATION BY THE CITY PLUS TEN PERCENT OF THE ASSESSED
VALUATION OF ALL PERSONAL, CORPORATE AND UTILITY PERSONAL
PROPERTY SUBJECT TO TAXATION BY THE CITY, AND TO EXCLUDE CITY
BONDS (OTHER THAN GENERAL OBLIGATION BONDS) ISSUED PURSUANT
TO THE TAX INCREMENT FINANCING ACT FROM THE CALCULATION OF
SUCH DEBT LIMIT; PROVIDING THAT THIS TITLE IS A FAIR SUMMARY OF
SUCH CHARTER AMENDMENTS; AND PROVIDING FOR THE PROCEDURES
TO BE FOLLOWED FOR THE EFFECTIVENESS OF THIS CHARTER
AMENDMENT RESOLUTION.
[Section SC7-48 of the Charter of the City of Salisbury, Wicomico County, as
found in the Public Local Laws of Maryland - Compilation of Municipal Charters
(1990 Replacement Edition and 2005 Supplement), repealed and reenacted, with
amendments.
Effective Date July 28, 2005]
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RESOLUTION NO. 1236
A RESOLUTION of the Council of the City of Salisbury proposing the
annexation to the City of Salisbury of a certain area of land situate contiguous to and
binding upon the Easterly corporate limit of the City of Salisbury, to be known as the
"Glen Avenue - Brown Property Annexation" being an area located on the Southerly
side of Glen Avenue.
(0.740 acre of land, more or less)
[Pursuant to Section SC1-1 of the Charter of the City of Salisbury, Wicomico
County, as found in the Public Local Laws of Maryland - Compilation of Municipal
Charters (1990 Replacement Edition and 2005 Supplement).
Effective Date July 28, 2005]
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RESOLUTION NO. 1246
AS AMENDED ON MAY 9, 2005
CHARTER AMENDMENT
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SALISBURY
REPEALING IN ITS ENTIRETY AND RE-ENACTING, WITH AMENDMENTS,
CHARTER SECTION SC7-45 IN ORDER TO (1) AUTHORIZE THE ISSUANCE OF
GENERAL OBLIGATION BONDS, NOTES OR OTHER EVIDENCES OF
INDEBTEDNESS (HEREINAFTER, "DEBT"), REVENUE DEBT FOR ECONOMIC
OR INDUSTRIAL DEVELOPMENT PURPOSES, OR REVENUE DEBT FOR
OTHER PUBLIC PURPOSES, (2) AUTHORIZE THE ENTRY INTO INDENTURES,
TRUST AGREEMENTS, LOAN AGREEMENTS, MORTGAGES, DEEDS OF TRUST,
LEASES, LETTER OF CREDIT AGREEMENTS, LINE OF CREDIT AGREEMENTS,
STANDBY BOND PURCHASE AGREEMENTS OR OTHER SIMILAR OR
- 4815 -
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