HERBERT R. O'CONOR, GOVERNOR. 61

of Public Local Laws of Maryland being hereby declared to be
inapplicable to this Act or to any of the authority herein
granted. Said certificates of indebtedness and the interest
payable thereon and the income derived therefrom, in the hands
of the holders thereof from time to time, shall be forever
exempt from all state, county and municipal taxation in the
State of Maryland. Said certificates of indebtedness shall be
known as "Montgomery County Suburban Improvement Dis-
trict Certificates of Indebtedness" and on each issue of such
certificates of indebtedness there shall be plainly indicated the
name of the district with respect to which such certificates of
indebtedness are issued. The proceeds of the sale of each issue
of such certificates of indebtedness shall be set apart and kept
in a separate account and expended only for the purpose of
paying for the construction or improvements in the particular
Suburban Improvement District with respect to which such
certificates of indebtedness shall have been issued. The pro-
ceeds of the collection of the special assessments hereinabove
provided for shall constitute the primary fund for the payment
of the interest on and the principal of said certificates of in-
debtedness as and when the same respectively mature, and such
proceeds shall be credited, in each fiscal year, against the
amounts necessary to be raised in such fiscal year in order to
meet such principal and Interest maturities. Accordingly, the
payment of principal and interest of said certificates of indebt-
edness shall be provided for in the following manner: At least
thirty (30) days before the regular annual levy date the County
Commissioners of Montgomery County, in each fiscal year,
shall estimate the amount necessary to pay the interest, for the
ensuing year, on all outstanding certificates of indebtedness
issued with respect to any particular Suburban Improvement
District, plus such amount as may be necessary to retire any
of such certificates of indebtedness maturing during said fiscal
year, or to provide a sinking fund sufficient to retire all such
certificates of indebtedness of any particular issue at maturity,
and said County Commissioners of Montgomery County shall
thereupon fix and levy the ad valorem tax in each such Special
Improvement District at a rate sufficient to provide funds for
the cost of administration, maintenance and repair hereinabove
authorized and also the debt service on any such certificates of
indebtedness so issued with respect to any particular Suburban
Improvement District. As above provided, in determining the
amount necessary to meet such debt service, the County Com-
missioners of Montgomery County shall take credit for the
amounts then in hand and to be received in such fiscal year
from the special assessments hereinabove provided for, which
said amounts shall, as aforesaid, be applied to and shall con-
stitute the primary fund for the payment of the interest on and