2376                                    MUNICIPAL CHARTERS

SECTION 1. BE IT RESOLVED by the Council of the Mayor and City
Council of Ocean City that the Charter of said municipal corporation as set forth
in Sections 170 to 208K, inclusive, of the Code of Public Local Laws of Worcester
County (1961 Edition, as amended, being Article 24 of the Code of Public Local
Laws of Maryland), as amended, be and the same is hereby amended by
confirming, adopting, and ratifying an amendment to Section 188Q of said Charter
of the Mayor and City Council of Ocean City enacted by a Charter Amendment
Resolution adopted on March 22, 1966 (effective May 11, 1966), which added a
provision to said Section 188Q of said Charter to read as follows:

188Q. PAYMENT OF INDEBTEDNESS.

The power and obligation of the town to pay any and all bonds, notes or other
evidences of indebtedness issued by it under the authority of this charter 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. 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.
THE TOWN SHALL HAVE THE POWER TO SELL ANY BOND EITHER
BY PUBLIC SALE OR PRIVATE NEGOTIATIONS, AS THE COUNCIL
MAY BY ORDINANCE DETERMINE, NOTWITHSTANDING ANY
LIMITATIONS CONTAINED IN SECTION 34(4) OF ARTICLE 23A OF
THE ANNOTATED CODE OF MARYLAND (1957 EDITION, AS
AMENDED).

SECTION 2. BE IT FURTHER RESOLVED by the Council of the Mayor
and City Council that the said Charter of said Municipal Corporation is hereby
further amended by repealing Section 188Q thereof as said Section was amended
by the said Charter Amendment Resolution adopted on March 22, 1966 (effective
May 11, 1966) and as confirmed in Section 1 hereof and to re-enact said Section
188Q to read as follows:

188Q. PAYMENT OF INDEBTEDNESS.

The power and obligation of the town to pay any and all bonds, notes or other
evidences of indebtedness issued by it under the authority of this charter 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. 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
PREVIOUSLY ISSUED BY MAYOR AND CITY COUNCIL OF OCEAN
CITY AND SOLD AT PRIVATE SALE AND ALL ORDINANCES PASSED
CONCERNING THEM ARE HEREBY DECLARED TO BE VALID, LEGAL
AND BINDING AND OF FULL FORCE AND EFFECTIVE IN
ACCORDANCE WITH THEIR TERMS AS IF HEREIN FULLY SET
FORTH.

SECTION 3. AND BE IT FURTHER RESOLVED that the date of the
adoption of this Resolution is April 15, 1969, and that the amendment to the
Charter of the Mayor and City Council of Ocean City hereby proposed by this
enactment shall be and become effective on June 4, 1969, unless a proper petition
for a referendum hereon shall be filed as permitted by law. A complete and exact