ALBERT C. RITCHIE, GOVERNOR. 897

within not more than five years after the date of issuance and
(2) in the case of the other improvements specified within
not more than ten years after the date of issuance, shall bear
interest not to exceed the rate of 6 per cent, per annum payable
annually or semi-annually, shall be in such form as may be
prescribed by said Citizens' Committee of Chevy Chase Section
4 with the approval of said Board of County Commissioners,
shall be signed by the Chairman and Treasurer of said Com-
mittee and shall be free from all state, county and local taxa-
tion. Such bonds or other obligations shall be sold or nego-
tiated by said Citizens' Committee with the approval of said
board of County Commissioners for the best price obtainable
either at public or private sale but shall not be sold or negoti-
ated for less than their par value with accrued interest and
the proceeds thereof shall be paid over to the Treasurer of
said Section 4 who is charged with the custody of any moneys
received from the issue or sale of such bonds, notes or certifi-
cates of indebtedness and with the receipt and safekeeping of
the moneys arising from assessments for road and street im-
provements as provided in Section 4 hereof, which said funds
shall be kept as a separate account and fund and shall be used
to pay for the cost of the improvements for which they were
respectively collected or to liquidate the bonds, notes or certifi-
cates of indebtedness in sued therefor, as shall be directed by
said Citizens' Committee of Section 4. Such bonds, notes or
certificates when paid, shall be cancelled and properly kept and
filed as a part of the records of said Section 4.

(c) Before the Citizens' Committee of Section 4 shall bor-
row any money or issue any bonds, notes or certificates of in-
debtedness for any of the purposes herein authorized, it shall
call a special meeting of the resident registered qualified voters
being owners of any interest, joint or several, in real property
in said Section 4, such meeting to be held after giving at least
ten days' written notice thereof to each of such resident regis-
tered qualified voters being owners of any interest, joint or
several, in real property in said Section 4. by depositing said
notice in the United States Post Office addressed to the last
known address of such resident registered qualified voters,
being owners of any interest, joint or several in real property
in said Section 4. which notice shall contain a statement of
the purpose of such proposed indebtedness and the approximate
amount thereof. At such meeting the question of borrowing
such money and the issuance of bonds or other obligations shall
be submitted to such resident, registered qualified voters being
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