[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.