HERBERT R. O'CONOR, GOVERNOR. 547

36. Unless the enabling act authorizing any public
body to issue bonds shall specifically exempt said bonds
from the provisions of this section, or unless such enabling
act shall provide a method of maturing the bonds therein
authorized different from the method herein provided for,
no public body shall issue its bonds, pursuant to any
such general or special authority heretofore or hereafter
granted, except upon a serial maturity plan, the last of
such series to mature within the maximum period of
maturity prescribed in the schedule of maturities herein-
after set forth dependent upon the several public purposes
for which any such bonds may be issued. The public body
may, in its discretion, provide for the maturity of said
series in consecutive annual installments or at longer
intervals, and the amounts of each series may vary, but
in no event shall the final series mature after the maximum
period from the date of the issue of such bonds, as herein-
after limited, shall have expired. No bonds issued for the
purpose of providing funds, in whole or in part, for any
of the public improvements enumerated below shall be
issued to mature at a date later than the number of years
from date of issue set opposite each of said public improve-
ments so enumerated, and in no event shall bonds be
issued by any public body for any public or proprietary
purpose to mature more than forty (40) years from date
of issue. The public improvements hereinabove referred
to and the maximum number of years during which bonds
for such improvements may be outstanding are as follows:

MAXIMUM LIMIT UPON
PURPOSE OF ISSUE MATURITY OF ISSUE

Bridges.......................................................................................... 30 years

Electric Light and Power Systems........................ 25 years

Gas Systems................................................................................. 25 years

Grade Crossing Eliminations....................................... 25 years

Harbor Improvements...................................................... 25 years

Highway Construction...................................................... 20 years

Land Acquired for Permanent Improvements 40 years

Paving Existing Highways or Streets.................. 10 years

School Construction............................................................... 25 years

Sewerage Installation......................................................... 40 years

Water Systems.......................................................................... 40 years

Airports and Building Constructed

or to be Constructed Thereon.................................... 15 years

All Other Permanent Structures of

Durable Materials.......................................................... 25 years