Public Notice Of Town Of Bel Air Charter Amendment

Press release from the Town of Bel Air:

May 5, 2020

The Bel Air Board of Town Commissioners unanimously passed Charter Resolution No. 126-20 following a public hearing that was held on May 4, 2020. This Resolution amends Article IV Section 401 General Powers of the Town Charter of the Town of Bel Air to adopt provisions allowing other evidence of indebtedness regarding borrowing from financial institutions to obtain funds authorizing the placement of liens on vehicles or other equipment purchased to be used as collateral to secure repayment, as follows:

d. Other Evidence of Indebtedness

The Town of Bel Air may borrow from a financial institution to obtain funds to purchase vehicles, other equipment, furniture, and/or fixtures and may authorize the financial institution making the loan to place a lien on any vehicle, other equipment, furniture or fixture purchased from such funds to be used as collateral to secure repayment of such loan.

Any questions or concerns may be directed to Michael L. Krantz, Director of HR & Administration, via email to mkrantz@belairmd.org or by calling 410-638-4550.

Charter Resolution No. 126-20

This press release was produced by the Town of Bel Air. The views expressed here are the author’s own.