838 LAWS OF MARYLAND. [CH. 640

Commission to borrow on the credit of the town a sum or
sums of money which shall not at any one time exceed Five
Thousand Dollars (f5, 000. 00) and to issue and sell certifi-
cates of indebtedness or bonds therefor, for the purpose of
retiring existing street improvement bonds of said town.

SECTION 1. Be it enacted by the General Assembly of Mary-
land,, That the town of Cottage City, in Prince George's County,
Maryland, a municipal corporation, and the Cottage City Com-
mission, be and the same are hereby authorized and empowered
to borrow on the faith and credit of the Town of Cottage City
and issue its certificates of indebtedness or bonds therefor a
sum or sums of money which shall not at any time exceed Five
Thousand Dollars ($5, 000. 00) for the purpose of retiring bonds
of the town issued for the construction of roadways, alleys,
curbs, sidewalks and gutters and known as street improvement
bonds and for no other purpose whatsoever.

SEC. 2. And be it further enacted, That the said certificates
of indebtedness or bonds shall be issued in such denominations
as shall be determined by the Cottage City Commission, shall
bear interest at a rate to be determined by said Cottage City
Commission, shall be dated on the date of their issue and
shall mature not exceeding five^ears from said date of issue,
or may be retired serially as said Cottage City Commission
may determine. Said certificates of indebtedness or bonds
shall not be sold for less than the par value thereof and shall
be signed by the Chairman of said Cottage City Commission,
countersigned by the Secretary Commissioner with the corpo-
rate seal of the town of Cottage City attached. The funds
derived from the sale of said certificates of indebtedness or
bonds shall be deposited by the Cottage City Commission in
some safe banking institution in the State of Maryland, to
be determined by them, and to be subject to the check of the
Cottage City Treasurer only when countersigned by two mem-
bers of the Cottage City Commission.

SEC. 3. And be it further enacted, That said bonds when
issued in conformity with all the terms and conditions of this
Act shall be and remain the direct, valid and binding obliga-
tions of the Town of Cottage City, issued upon its faith and
credit. The Town of Cottage City and the Cottage City Com-
mission shall levy a tax in addition to the taxes authorized by
Section 270 of this Article, upon all the assessable property
within the limits of Cottage City sufficient to pay the principal
and interest on said bonds as they respectively mature and
become payable, in each and every year when any of said bonds
are outstanding, provided, however, that the Town of Cottage