[P.L.L., 1920, Art. 6, sec. 193. 1929, ch.
21, sec. 16; 1947, ch. 337, sec. 193; 1951, ch. 67; Res., 11-9-1959, Sec. 193; Res. No. 2004-03, 3-1-2004]; 3-1-2021 by Res. No. 2021-01
The Mayor and Council of Federalsburg in the
month of June of each year shall levy an annual ad valorem tax on
all of the real property and all tangible personal property within
the corporate limits of said Town, subject to assessment for municipal
taxation, said taxes to consist of a levy without limitation sufficient
in each year to provide said municipal corporation with the moneys
necessary for the general purposes of said corporation and to enable
the Town to pay the principal of, and interest on all funded or other
indebtedness of said municipal corporation due and payable prior to
the next annual tax levy, which said taxes shall be a lien on all
of said property, real, personal property which may have a situs by
reason of the residence of the owner therein, and mixed, within said
municipal corporation until paid, and said total ad valorem tax shall
be due and payable on or before the first day of October in the year
in which levied, and on all such taxes not paid on or before the first
day of October shall incur interest, which rate shall be set from
time to time by the Mayor and Council. Any such taxes not paid by
the next succeeding January 1st shall incur an additional three percent
interest, which shall be over and above the interest that was chargeable
beginning in the previous October 1st, The taxes, fees, and interest
set forth above shall be in addition to any administrative fee imposed
by Caroline County for the collection of municipal taxes.
[P.L.L., 1930, Art. 6, sec. 196. 1929, ch.
21, sec. 19; Res. No. 2004-03, 3-1-2004]
As soon as the Mayor and Council shall proceed
to ascertain the amount to be levied for the use of said corporation
and shall fix the annual rate of taxation, the Clerk of Federalsburg
shall cause to be made a book containing an alphabetical list of the
taxpayers in said Town, together with the aggregate assessment of
each and the amount of taxes due and owing from each taxpayer under
said levy and assessment.
[P.L.L., 1930, Art. 6, sec. 217. 1929, ch.
21, sec. 40; 1947, ch. 337, sec. 217; Res., 11-9-1959; Res. No. 2004-03, 3-1-2004; Res. No. 2008-02, 6-2-2008]
The Mayor and Council of Federalsburg shall
have the authority to borrow on behalf of the Town such sums of money
as it deems proper for municipal purposes. To that end, the Mayor
and Council may pledge the full faith and credit of the Town and execute
and deliver notes, bonds or other obligations of the Town, at a rate
or rates of interest as the Mayor and Council deem appropriate, whether
variable or fixed, and with such other terms and conditions as the
Mayor and Council deem appropriate. The Mayor and Council shall have
the authority to sell bonds, notes, or other evidences of indebtedness
at, above or below the face par value thereof, by public sale or private
negotiated sale without advertisement or publication of notice of
sale or solicitation of competitive bids, as the Mayor and Council
by ordinance may determine, notwithstanding any contrary limitations
restrictions contained in Article 23A of the Annotated Code of Maryland
§ 31 et seq., or any other provision of public general law of
Maryland as the same now exists or may from time to time hereafter
be amended.
[P.L.L., 1930, Art. 6, sec. 218. 1929, ch.
21, sec. 41; Res. No. 2004-03, 3-1-2004]
The Mayor and Council of Federalsburg shall
annually, at the end of the fiscal year of said Town, have all books
and accounts of said corporation audited by some competent person
or persons, and shall have said books and accounts of said corporation
audited at such other time or times as they may deem proper and necessary.