The Town shall operate on an annual budget. The fiscal year
of the Town shall begin on the first day of July and shall end on
the last day of June in each year. Such fiscal year shall constitute
the tax year, the budget year, and the accounting year.
The Mayor shall prepare and submit a budget to the Commission,
on such date as the Commission shall determine. The budget shall provide
a complete financial plan for the budget year and shall contain estimates
of anticipated revenues and proposed expenditures for the coming year.
The total of the anticipated revenues shall equal or exceed the total
of the proposed expenditures. The budget shall be a public record
in the office of the Clerk open to public inspection by anyone during
normal business hours.
Before adopting the budget the Commission shall hold a public
hearing after providing notice in some newspaper or newspapers having
general circulation within the Town. The Commission may insert new
items or may increase or decrease the items of the budget. When the
Commission increases the total proposed expenditures it shall also
increase the total anticipated revenues in an amount at least equal
to such total proposed expenditures. The budget shall be prepared
and adopted in the form of an ordinance. A favorable vote of at least
a majority of the total elected membership of the Commission shall
be necessary for adoption.
No public money may be expended without having been appropriated
by the Council. From the effective date of the budget, the several
amounts stated therein as proposed expenditures shall be and become
appropriated to the several objects and purposes named therein.
Any transfer of funds between major appropriations for different
purposes must be approved by the Commission before becoming effective.
No officer or employee shall during any budget year expend or
contract to expend any money or incur any liability or enter into
any contract which by its terms involves the expenditure of money
for any purpose, in excess of the amount appropriated for or transferred
to that general classification of expenditure pursuant to this Charter.
Any contract, verbal or written, made in violation of this section
shall be null and void. Nothing in this section contained, however,
shall prevent the making of contracts or the spending of money for
capital improvements to be financed in whole or in part by the issuance
of bonds, nor the making of contracts of lease or for services for
a period exceeding the budget year in which such contract is made,
when such contract is permitted by law.
All Appropriations shall lapse at the end of the budget year
to the extent that they shall not have been expended or lawfully encumbered.
Any unexpended and unencumbered funds shall be considered a surplus
at the end of the budget year and shall be included among the anticipated
revenues for the next succeeding budget year.
All checks issued in payment of salaries or other municipal
obligations shall be signed by the Clerk and shall be countersigned
by the Mayor or his authorized agent.
All real property and/or business personal property within the
corporate limits of the Town shall be subject to taxation for municipal
purposes. The assessment used for municipal taxation shall be the
same as that for State and county taxes.
The Commission is authorized to establish the rate of levy for
the general operation purposes of the City. The Commission has the
power to raise the levy up to twenty-five ($00.25) cents per one hundred
dollars every year beginning fiscal year 1983, with the starting salary
rate of one dollar and ten cents ($1.10) per one hundred dollars.
In addition to the sum for general purposes, the Commission may levy
on assessable property such sums as are necessary and sufficient for
the liquidation and payment of the indebtedness of the Town of Westernport
or any bonds thereof or any interest thereon, issued or to be issued
under the authority of state law or this article.
Each year after the tax levy is made, a bill or account of the
taxes due from him shall be mailed or delivered in person to each
taxpayer or his agent at his last known address. This bill or account
shall contain a statement of the amount of real estate property and/or
business personal property with which the taxpayer is assessed, the
rate of taxation, the amount of taxes due, and the date on which the
taxes will bear interest. Failure to give or receive notice required
by this section shall not relieve any taxpayer of the responsibility
to pay on the dates established by this Charter all taxes levied on
his property.
The taxes provided for in section 711 of this charter shall
be due and payable on the first day of July in the year for which
they are levied and shall be overdue and in arrears on the first day
of the following October. They shall bear interest while in arrears
at the rate of two-thirds of one per centum (0.66 2/3) [(2/3)]
for each month or fraction of a month until paid. All taxes not paid
and in arrears after the last day of March shall be collected as provided
in Section 713.
A list of all property on which the Town taxes have not been
paid and which are in arrears as provided by Section 711 of this Charter
shall be turned over by the Clerk to the official of the county responsible
for the sale of tax delinquent property as provided in State law.
All property listed thereon shall if necessary be sold for taxes by
this county official, in the manner prescribed by State law.
All fees received by an officer or employee of the Town government
in an official capacity shall belong to the Town government and be
accounted for by Town officials.
The financial books and accounts of the Town shall be audited
annually in a manner determined by the Commission but not contrary
to applicable State law.
During the first six (6) months of any fiscal year, the Town
shall have the power to borrow in anticipation of the collection of
the property tax levied for that fiscal year, and to issue tax anticipation
notes or other evidences of indebtedness as evidences of such borrowing.
Such tax anticipation notes or other evidences of indebtedness shall
be a first lien upon the proceeds of such tax and shall mature and
be paid no later than eighteen (18) months from their date of issue.
No tax anticipation notes or other evidences of indebtedness shall
be issued which will cause the total tax anticipation indebtedness
of the Town to exceed fifty per cent (50) of the property tax levy
for the fiscal year in which such notes or other evidence [evidences]
of indebtedness shall be authorized by ordinance before being issued.
The Commission shall have the power to regulate all matters concerning
the issuance and sale of tax anticipation notes.
a.
The town shall have the power to borrow money for any proper public
purpose and to evidence such borrowing by the issue and sale of its
general obligation bonds, notes, or other certificates of indebtedness
pursuant to ordinance in the manner prescribed in Section 717(b).
b.
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(1)
Bonds, notes or other certificates of indebtedness of the Town may
be sold for any public purpose by private negotiated sale without
advertisement or publication of notice of sale or at public sale after
solicitation of competitive bids, as determined by the ordinance authorizing
the issuance of the bonds, notes, or other certificates of indebtedness.
(2)
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(i)
Any public sale of bond [bonds], notes or other certificates
of indebtedness of the Town may be held only after 1 or more insertions
of a notice of the sale in either a newspaper of general circulation
in the Town or a publication having a circulation primarily among
the investment and financial community.
(ii)
The first insertion of the notice of sale shall be published
at least ten (10) days before the date fixed for the sale.
(3)
_____
(i)
Bonds, notes or other certificates of indebtedness issued under
this section may be sold or redeemed for a price or prices which may
be at, above, or below the par value of the bonds, notes, or other
certificates of indebtedness, as provided in the authorizing ordinance.
(ii)
The ordinance that authorizes the bonds, notes, or other certificates
of indebtedness may provide for prior redemption of the bonds, notes,
or other certificates of indebtedness.
(iii)
Bonds, notes or other certificates of indebtedness of the Town
may be issued, sold, and delivered on such terms and conditions, including
fixed or variable rate or rates of interest or method of determining
interest rate or rates, as provided in the authorizing ordinance.
(4)
Bonds, notes or other certificates of indebtedness of the Town may
be issued for either cash or other valuable consideration.
(5)
The official signatures and seals affixed to any bonds, notes, or
other certificates of indebtedness of the Town may be imprinted in
facsimile.
(6)
The Town may enter into agreements with agents, banks, fiduciaries,
insurers, or others for the purpose of enhancing the marketability
of or as security for the bonds, notes or other certificates of indebtedness
and for securing any tender option granted to holders.
c.
Any ordinance authorizing the issuance of bonds, notes or other certificates
of indebtedness of the Town shall be enacted pursuant to the procedure
set out in Section 308 for ordinances of the Town, except that publication
of a fair summary of any such ordinance shall satisfy the requirement
of Section 308(b) where applicable. (Res., 5-26-87.)
The power and obligation of the Town to pay any and all bonds,
notes, or other evidences of indebtedness issued by it shall be unlimited
and the Town shall levy ad valorem taxes upon all the taxable property
of the Town for the payment of such bonds, notes, or other evidences
of indebtedness and interest thereon. The faith and credit of the
Town is hereby pledged for the payment of the principal of and the
interest on all bonds, notes, or other evidences of indebtedness,
hereafter issued under the authority of this Charter, whether or not
such pledge be stated in the bonds, notes, or other evidences of indebtedness,
or in the ordinance authorizing their issuance.
All bonds, notes, or other evidences of indebtedness validly
issued by the Town previous to the effective date of this Charter
and all ordinances passed concerning them are hereby declared to be
valid, legal, and binding and of full force and effect as if herein
fully set forth.
All purchases for the town government shall be made through
the office of the Town Clerk under the direction of the Commission.
The Commission shall provide for rules and regulations regarding the
use of competitive bidding and contracts for municipal purchases.
