HERBERT R. O'CONOR, GOVERNOR. 141
CHAPTER 89.
(House Bill 262)

AN ACT to authorize and empower the Mayor and Council or
other governing body of each incorporated town in Prince
George's County to borrow upon the faith and credit of
said town a sum not exceeding in the aggregate the total of
the outstanding bonds or certificates of indebtedness of such
incorporated town, and to issue and sell coupon bonds there-
for at any time or from time to time, for the purpose of
providing funds for the retirement or refunding of road
and street improvement bonds and certificates of indebted-
ness issued to provide funds for street improvements in such
town, and validating and confirming said bonds, certificates
of indebtedness or other obligations so to be refunded, and
providing for the payment of the said coupon bonds and the
interest thereon out of the proceeds of certain special assess-
ments and other levies or by a general tax levy upon all the
taxable property within the limits of said town, and making
such bonds exempt from State, county and municipal
taxation.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the Mayor and Council or other governing body,
by whatsoever name known, of each incorporated town in
Prince George's County be and it is hereby authorized and
empowered to borrow money on the faith and credit of said
town and to issue and sell coupon bonds therefor in an amount
not to exceed the total of the outstanding bonds or certificates
of indebtedness issued by such town, said bonds to be in such
denominations and to bear such rate of interest not exceeding
six per centum (6%) per annum as may be determined by the
governing body of such town. All of said bonds may be issued
at one time or they may be issued in smaller amounts from
time to time, as may be determined by the governing body of
such town, and the interest thereon shall be payable semi-
annually at intervals of six months, accounting from the date
or dates of said bonds in each and every year until said bonds
are paid. Said bonds when issued shall be signed by the
Mayor or President or Chairman by whatsoever name known
of such town and shall be countersigned by the Clerk to said
town; the seal of said town shall be fixed to each bond and
the interest coupons attached shall bear the original signature
or facsimile signature of the Mayor, President or Chairman of
such town, printed, lithographed or engraved thereon, that in
case any of the officers whose signatures shall appear on the
bonds and coupons authorized to be issued pursuant to the
provisions of this Act, shall cease to be such officers before