ALBERT C. RITCHIE, GOVERNOR. 215

ever, exceed in amount at any one time the total sum of ten
per centum of the assessed valuation of all real and per-
sonal property in the town appearing on the assessment
books of Prince George's County, State of Maryland, and
to issue bonds or certificates of indebtedness therefor,
which shall be payable on or before twenty years
from the date of issuance, with interest not to exceed the
rate of six per centum, payable semi-annually, unless of
shorter duration, then at the maturity of said obligation.
The funds derived from the sale of said bonds or certifi-
cates of indebtedness shall be deposited by the Cottage City
Commission in some safe banking institution in the State
of Maryland, to be determined by them, and to be subject
to the check of the town treasurer only when countersigned
by two members of the Cottage City Commission. Out of
said funds shall be paid only the proper expenses for the
negotiation, sale and liquidation of said bonds or certificates
of indebtedness and for the planning and construction of
the roadways, alleys, curbs, sidewalks and gutters as pro-
vided for herein.

Said bonds when issued in conformity with all the terms
and conditions of this Act shall be and remain the direct,
valid and binding obligations of the Town of Cottage City,
issued upon its faith and credit. The Town of Cottage
City and The Cottage City Commission shall levy a tax in
addition to the taxes authorized by Section 270 of this
Article, upon all the assessable property within the limits
of Cottage City sufficient to pay the principal and interest
on said bonds as they respectively mature and become pay-
able, in each and every year when any of said bonds are
outstanding, provided, however, that the Town of Cottage
City and the Cottage City Commission are hereby directed
to pledge the revenues derived from the collection of spe-
cial assessments authorized to be levied by Section 283 of
this Article, to the payment of the principal and interest
on said bonds and the amount of the tax levy hereinabove
authorized shall be reduced in each and every year it is
necessary to levy the same, by the amount of the revenue
collected from such special assessments in such year and
made available for the payment of the principal and inter-
est on said bonds.

SEC. 2. And be it further enacted, That this Act is
hereby declared to be an emergency law and necessary for
the immediate preservation of the public health and safety,
and having been passed upon by a yea and nay vote, sup-