ALBERT C. RITCHIE, GOVERNOR. 273

Public Local Laws of Maryland, entitled "Montgomery
County, " as amended by Chapter 52 of the Acts of the
General Assembly of 1931, be and the same is hereby re-
pealed and re-enacted to read as follows:

213. The County Commissioners of Montgomery County
are hereby authorized and empowered to purchase any real
estate offered for sale for the payment of taxes and special
assessments; provided they shall not bid a sum greater
than the taxes and special assessments in arrear on said
property and the interest and expenses of sale and costs
and fees, and to sell or lease the same as in their judgment
and discretion shall be deemed best for the interests of
the county and they are further authorized and empowered
to issue upon the faith and credit of Montgomery County
at one time or from time to time as they may in their
discretion deem necessary, certificates of indebtedness
in an amount not exceeding the amount of such taxes
and/or special assessments, interest, penalties, costs and
fees, in anticipation of the receipt of monies from the re-
demption and from the sale of property sold for such taxes
and/or special assessments; provided, however, that the
amount of such certificates of indebtedness, shall not in the
aggregate at any time exceed twenty (20) per cent of the
total amount of taxes and/or special assessments levied for
the year for which such certificates are issued. The cer-
tificates of indebtedness so issued in anticipation of the
receipt of monies from the redemption and from the sale
of property sold for taxes and/or special assessments in
any year shall be identified by the year in which such
sale is made and designated "Certificates of Indebtedness,
19, " and shall mature not later than the first day of
October of the fifth year after the year in which such sale
for taxes and/or special assessments is made. Such cer-
tificates of indebtedness shall bear interest at a rate to be
determined by the County Commissioners, not exceeding
six per cent per annum, payable semi-annually, or at
shorter intervals, and shall be sold in such manner and on
such terms as said Board of County Commissioners shall
determine to be for the best interests of the county, and if
for any reason certificates of indebtedness issued against
property purchased by the Board of County Commission-
ers at any tax sale have been retired in whole or in part
before the time limit for maturity as specified in this Act
new certificates may be issued, the total principal of which
shall exceed neither the amount of principal previously
retired nor the amount of taxes, interest, penalties, ex-