92 LAWS OF MARYLAND. [CH. 11

special assessments, interest, penalties, costs, and fees, in
anticipation of the receipt of monies from the redemption
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 certificates
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 certificates of indebted-
ness shall bear interest at a rate to be determined by the
County Commissioners, not exceeding six per cent per an-
num, 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 cer-
tificates of indebtedness issued against property purchased
by the Board of County Commissioners 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, expenses of sale, costs,
and fees on property 'purchased by the Board of County
Commissioners for such year remaining unredeemed at the
time of issuance of such new certificates, but all such cer-
tificates of indebtedness shall mature within the time herein
limited for the maturity of the original certificates of in-
debtedness. Said Board of County Commissioners shall by
resolution fix the form of such certificates of indebtedness,
the officers by whom they shall be executed, the amounts,
the medium of payment and the place or places in Maryland
or elsewhere at which they shall be payable. Such certifi-
cates of indebtedness may be renewed from time to time by
endorsement thereon or new certificates of indebtedness
may be issued from time to time for the payment of such
certificates issued hereunder as may mature and all such
new certificates may be issued in the same manner as herein
provided not exceeding the total principal of the maturing
certificates and shall mature within the time herein limited
for the maturity of the original certificates of indebtedness.