1394 LAWS OF MARYLAND. [CH. 800
CHAPTER 800.
(House Bill 747)

AN ACT to repeal and re-enact with amendments Section
131 of Article 17 of the Code of Public Local Laws of Mary-
land (1930), as said Section was amended by Chapter 653
of the Acts of the General Assembly of Maryland of 1939,
title "Prince George's County", sub-title "Brentwood", re-
lating to the borrowing of money by the Mayor and Town
Council of Brentwood for street and drainage improvements.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Section 131 of Article 17 of the Code of Public
Local Laws of Maryland (1930), as said Section was amended
by Chapter 653 of the Acts of the General Assembly of Mary-
land of 1939, title "Prince George's County", sub-title "Brent-
wood", be and the same is hereby repealed and re-enacted with
amendments to read as follows:

18B. (Codified in Article 17 of the Code of Public Local
Laws of Maryland (1930) as Section 131. ) To effectuate the
improvements named in the preceding section, the Mayor and
Town Council of Brentwood is hereby authorized and em-
powered to borrow from time to time on the credit of the town
a sum or sums of money, not to exceed at any time eight per
centum of the assessed valuation of the real property of the
town of Brentwood; to issue and renew or reissue certificates
of indebtedness therefor, which shall be payable within not
to exceed ten years from the date of issuance, with inter-
est not to exceed the rate of six per centum per annum, pay-
able semi-annually, unless of shorter duration, then at the
maturity of said obligation; and said Mayor and Town Council
may issue and renew or reissue or refund existing issues of
certificates of indebtedness on the so-called serial annuity
plan with a stated amount of principal payable annually for
a period not to exceed twenty years, such annual payments,
with interest not to exceed six per centum, and the final ma-
turity date of any such issue or issues to be fixed by the Mayor
and Town Council; and any outstanding issue of said cer-
tificates of indebtedness may, with the consent of the holders
of said issue, be refunded or reissued on the serial annuity
plan; and the Treasurer of the Town is charged with the
custody of any moneys received from the sale of said cer-
tificates of indebtedness as above mentioned. The Clerk of
said town shall be charged with the prompt collection of the
moneys arising from assessments for sidewalks, curbs, gut-
ters and street improvements, said funds to be turned over
to the Treasurer of said Town by the Clerk and the Treasurer