HERBERT R. O'CONOR, GOVERNOR. 771

provements named in the preceding section, the Mayor and
Town Council of Brentwood are hereby authorized and empow-
ered 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 in-
debtedness therefor, which shall be payable within not to
exceed ten years from the date of issuance, with interest not to
exceed the rate of six per centum per annum, payable, 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 ex-
ceed twenty years, such annual payments, with interest not to
exceed six per centum, and the final maturity date of any such
issue or issues to be fixed by the Mayor and Town Council; and
any outstanding issue of said certificates 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 certificates of indebtedness as above men-
tioned. The Clerk of said town shall be charged with the
prompt collection of the moneys arising from assessments for
sidewalks, curbs, gutters and street improvements, said funds
to be turned over to the Treasurer of said Town by the Clerk
and the Treasurer of said town shall be charged with the safe
keeping thereof, and said funds shall be kept as a separate
account and fund, and no part thereof shall ever be used for
any other purpose than to liquidate the certificates of indebted-
ness, and interest thereon, issued for the cost and necessary
expenses in the construction of sidewalks, curbs, gutters and
roadbed and street improvements; including the necessary ex-
penses incident to carrying into effect the provisions of this
Act, and including the necessary clerical and administrative
expenses incident to the collecting, safekeeping, and disburse-
ment of these moneys; which certificates when paid shall be
cancelled and properly kept and filed among the papers of
said town, a record of which certificates thus cancelled shall be
entered upon a book kept for the purpose aforesaid, and the
Treasurer of said Town and the Clerk of said Town, for the
purposes of this Act, shall be bonded in amount left to the
discretion of the Mayor and Town Council, but in no case in
amount of less than Two Thousand Dollars.

The Mayor and Town Council of Brentwood are authorized
to borrow from time to time on the credit of the town, and
under the limitation of eight per centum of the assessed valua-
tion of real property as set forth in the first paragraph of this