Section 52. Borrowing on Notes.

   At any time, the town shall have the power to borrow and to evidence such indebtedness by signing promissory notes. Such promissory notes shall be authorized by ordinance before being issued. The Council shall have the power to regulate all matters concerning the getting of promissory notes and shall not be required to solicit competitive bids upon the same, but shall be authorized to negotiate the best rate of interest available, privately, if the Council deems the same advisable.

Section 53. Payment of Indebtedness.

   The power and obligation of the town to pay any and all bonds, notes or other evidence of indebtedness issued by it under the authority of this charter and Section 31 of Article 23A of the Annotated Code of Maryland 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, without limitation of amount. All bonds payable as to principal and interest solely from the revenue of one or more revenue-producing projects of the town shall not constitute an indebtedness to which the full faith and credit or taxing power of the town are pledged. The full faith and credit of the town is hereby pledged for the payment of the principal of and the interest on all other bonds, notes or other evidences of indebtedness, hereafter issued under the authority of this charter and Section 31 of Article 23A of the Annotated Code of Maryland, whether or no [not] such pledge be stated in the bonds[,] notes, or other evidences of indebtedness, or in the ordinance authorizing their issuance.

Section 54. Borrowing.

   (a)   The town may borrow money for any public purpose, including refinancing of any indebtedness of the town outstanding from time to time, and may evidence such borrowing by the issue and sale of its general obligation bonds or bond anticipation notes. Such bonds or notes may be issued and sold in the manner prescribed in Sections 31 to 37, inclusive of Article 23A of the Annotated Code of Maryland (1957 Edition, as amended and replaced), Title "Corporations – Municipal," Subtitle "Home Rule," Subheading "Creation of municipal public debt"; provided that, if any ordinance authorizing the issue and sale of any of such bonds or notes so specifies, the bonds or notes may be sold at private sale, without advertisement or publication of notice of sale, or solicitation of competitive bids.

   (b)   The authority and powers contained in this section shall be supplementary to existing law and may be exercised in whole or in part by the town notwithstanding any other provision or limitation of law.

Section 55. Issuance of revenue bonds.

   The town may provide by ordinance for the issuance and sale of revenue bonds for the purpose of financing any part or all of the cost of construction, reconstruction, acquisition, improvement, extension, alteration, modernization, planning, maintenance, and repair of any municipally owned property, facility or project. Such bonds are to be payable as to both principal and interest solely from the revenues of any portion or all of such property, facilities or projects as are financed by such revenue bonds. Such bonds shall not constitute an indebtedness to which the town's faith and credit or taxing power are pledged and all such bonds shall contain on their faces a statement to that effect.

Section 56. Previous issues.

   All bonds, notes or other evidences of indebtedness 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.

Section 57. Purchasing and contracts.

   All purchases and contracts for the town government shall be made by the officer so designated by the Council. The Council may provide by ordinance for rules and regulations regarding the use of competitive bidding and contracts for all town purchases and contracts. All expenditures for supplies, materials, equipment, construction of public improvements, or contractual service involving more than twenty thousand dollars ($20,000) will be made on written contract. The designated officer shall be required to advertise for sealed bids, in such manner as may be prescribed by ordinance, for all such written contracts. Such written contracts shall be awarded to the bidder who offers the lowest or best bid, quality of goods and work, time of delivery or completion, and responsibility of bidders being considered. All such written contracts shall be approved by the Council before becoming effective. The Mayor and Council shall have the right to reject all bids and readvertise. The town at any time, in its discretion, may employ its own forces for the construction or reconstruction of public improvements, without advertising (or re-advertising for) or receiving bids. All written contracts may be protected by such bonds, penalties, and conditions as the town may require.

(Res. No. 1-01, 3-27-01; Ord. No. 08-2024, 9-3-2024) (See Note (3))

Personnel

Section 58. Authority to Employ Town Personnel.

   The town will have the power to employ such officers and employees as it deems necessary to execute the powers and duties provided by this charter or other State law and to operate the town government. The town will provide by ordinance for appointments and promotions in employment on the basis of merit and fitness.