2008 LAWS OF MARYLAND. [CH. 857

sand Dollars ($75,000) upon the faith and credit of said
Town for the purpose of constructing or improving road-
ways, streets, alleys, curbs, sidewalks or gutters for said
Town and to issue bonds therefor and to make assessments
and to levy taxes to pay the principal and interest of said
bonds and providing for a referendum thereon.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the Mayor and Common Council of the Town of
Fairmount Heights is hereby authorized to borrow upon the
faith and credit of the Town the amount of $75.000, and to
issue and sell from time to time twenty-year coupon bonds
not exceeding that amount. The entire proceeds of such
bonds, after payment of costs of engraving and all other
incidental costs and expenses connected with the issuance
of said bonds, shall be used by the Mayor and Common Coun-
cil, either alone or in connection with the use of such Fed-
eral funds as may be made available, for the construction or
improvement of roadways, streets, alleys, curbs, sidewalks
or gutters within the said Town of Fairmount Heights.

SEC. 2. And be it further enacted, That the Mayor and
Common Council of said Town shall have authority to pre-
scribe by ordinance or resolution the form and tenor of such
bonds and the date or dates of issuance, provided that such
bonds shall be coupon bonds bearing interest at not more
than six per cent, which shall be payable semi-annually on
the first day of January and July, and provided that such
bonds shall be issued in denominations of not less than $100,
and provided that such bonds shall be serial bonds and a
portion thereof shall be retired annually and provided fur-
ther that such bonds shall be signed by the Mayor and Com-
mon Council and countersigned by the Town Treasurer.

SEC. 3. And be it further enacted, That the Mayor and
Common Council shall assess against the abutting property
and collect from the owners thereof the cost of financing the
construction or improvement of roadways, streets, alleys,
curbs, sidewalks, or gutters, such assessment being in pro-
portion to the number of assessable front feet owned abutting
on said improvements; provided that when property fronts
on or abuts on two or more streets, the abutting front feet
shall be computed for the purpose of assessment as three-
quarters of the total front feet abutting on said improve-
ments. If such assessments fail to produce an amount suffi-
cient to pay the interest and principal of said bonds, the
Mayor and Common Council shall impose taxes to make up
the deficiency.