732 LAWS OF MARYLAND. [CH. 662
CHAPTER 662.
(House Bill 389)

AN ACT authorizing and directing the Board of County Com-
missioners of Prince George's County to issue general obli-
gation bonds of the County in a sum not exceeding One
Million Dollars ($1, 000, 000) for the purpose of making
general improvements in the Metropolitan District of said
County, as denned in this Act; to provide for the repay-
ment of said bonds and the interest thereon by a general tax
levy against all of the taxable property within said Metro-
politan District; and to provide for the manner of the ex-
penditures of the proceeds of said bonds

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the Board of County Commissioners of Prince
George's County are hereby authorized and directed to issue
general obligation bonds of said County in an amount not
exceeding One Million Dollars ($1, 000, 000) prorated annually
over the calendar years 1945 and 1946, said Commissioners may
issue and sell not less than Three Hundred Thousand Dollars
($300, 000) or more than Five Hundred Thousand Dollars
($500, 000) in any one year; and may issue and sell all or any
part of the bonds to be issued for any one calendar year in one
or more public offerings; said bonds shall bear interest at a
rate not exceeding three (3) per cent, payable semi-annually;
shall mature serially over a period of twenty-five (25) years,
the amounts of maturities to be fixed by said Commissioners,
provided, not more than three (3) per cent of the total of
any one issue shall mature, annually, within the first five (5)
years; said bonds shall be the general obligations of Prince
George's County, exempt from State, County and Municipal
taxation within the State of Maryland, and in such form as
may be adopted or prescribed by said Board of County Com-
missioners. The said County Commissioners shall levy, an-
nually, at the time 'taxes are levied for general County pur-
poses, a tax upon all of the property assessed for" County tax
purposes within the Metropolitan District, as hereinafter de-
fined, in an amount sufficient to meet the principal and interest
on said bonds so long as any of them shall be outstanding, pro-
vided, however, that if the interest matures on any one or more
of said issues before the annual levy, or before a sufficient
amount of taxes levied for the purpose of paying said interest
is collected, the said County Commissioners may pay, said
interest out of the proceeds of the sale of said issue or issues.
The Metropolitan District is defined, for the purpose of levying
the taxes required herein to be levied and for making the im-
provements herein authorized, as all of that part of Prince