The globe-independent. (Hagerstown, Md.) 1943-19??, 1949-02-24

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the payment of current expenses, re-
tirement of maturing bonds, the pay
ment of the interest on its Bonded
Indebtedness and for other Munich
pal Expenditures, the Council of
Hagerstown is hereby authorized
and empowered to borrow on the
faith and credit of said City of Ha-
gerStown, for the payment of cur
rent expenses, retirement of ma
turing bonds, the payment of the
interest on its Bonded Indebtedness
and for other Municipal Expendi-
lures, for a period of time not to
exceed one year, a sum or sums of
money not to exceed $15000000 in
the aggregate, in any one year, and
to issue for said indebtedness the
note or notes of the City of Hagers-
town, said note or notes to be sign
ed by the Mayor of said Hagers-
town, and to bear interest from the
date of their issue.
(b) In the event that the Council
of Hagerstown desires to borrow an
amount in excess of $150,000.00, for
a period in excess of one (D year,
for Municipal purposes and to issue
bonds of the City of Hagerstown
for such Indebtedness, the Council
is hereby authorized and empower
ed to borrow such sum and issue
said bonds, provided, however, that
approval of the majority of the vot-
ers of Hagerstown voting thereon
is given upon referendum at Gen
eral or Special election of the vot-
ers of the City of Hagerstown.
"a. The Council of Hagerstown is
hereby authorized and empowered
to exempt from municipal taxation
for period of years, not exceeding
five, such factories, manufacturing
industries, establishments, plants
and the like, and the land, machin-
cry and tools Herewith used, stock
in trade and products thereof as
may be located in said Hagerstown
and come within the meaning and
purpose of this Act, the said Coun-
Gil to determine what factories,
manufacturing industries, establish
ments, plants and the like are with
in the meaning and purpose of this
Act; provided, however, that such
exemption from municipal taxation
shall only be granted when ten or
more wage earners are regularly
employed by the person, persons, or
corporation applying to the said
Council for the benefit hereof; and
further provided that no such tax
exemption shall be granted except
to new industries, or to established
industries making bona fde sub
stantlal Improvements or undertake
ing new construction work; and
further provided that any and all
such tax exemptions shall be mat
tiers of public knowledge and Wher-
ever any exemption is granted a no
tice stating all the details thereof
shall be posted at the most conspic-
uous place for such notices, both in
the Court House and the City Hall
of Hagerstown. i
35. All appropriations for expen-
ditures from the funds of the City
of Hagerstown shall be passed by
the Council. The financial powers
of the City shall be exercised by
such department or departments,
and with such duties and functions,
except as herein provided, as the
Council shall determine. Said fnan-
cial functions shall be administered,
as in the case of other City functions,
under the direct supervision of the
Mayor, who shall be responsible to
the Council for the proper exercise
of such functions.
SO. The City shall operate on an
annual budget The chief financial
officer of the City shall act as budget
officer, and the City shall operate
under an executive budget system.
The Council shall establish by or
dinance definite date each year at
which it will commence considera-
ton of appropriations for the en-
suing year. At least three months
prior to the regularly established
time at which the Council takes up
estimates to make appropriations to
the various City functions and serv-
ices for the ensuing year, the budget
officer shall confer with the Mayor
and chief revenue official of the City
as to funds that will likely be avil-
able for the ensuing year under the
or modified revenue ar
engagements. The budget officer
thereafter, under such specific direc-
tons as the Mayor shall give, and
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