240 LAWS OF MARYLAND. [CH. 142

not, however, exceed in amount at any one time for any pur-
pose the total sum of eight per centum of the assessed valua-
tion of all real and personal property in the town
appearing on the assessment books of Prince George's County,
Maryland; and to issue bonds or certificates of indebtedness
therefor, which shall be payable within ten years from the
date of issuance in twenty equal semi-annual installments
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. The funds derived from
the sale of said bonds or certificates of indebtedness shall be
deposited by the Mayor and Town Council of Forest Heights
in some safe banking institution in the State of Maryland, or
the District of Columbia, to be determined by it, and be sub-
ject to withdrawal by the check of the Town Treasurer, only
when countersigned by the Mayor. Out of said funds shall
be paid only the proper expenses for the negotiation, sale, and
liquidation of said bonds or certificates of indebtedness, and
for the planning and construction of the roadbeds, sidewalks,
curbs, gutters, and street improvements as provided for herein.

The Mayor and Town Council of Forest Heights is hereby
further authorized and empowered to borrow from time to
time on the faith and credit of the town, and under limitation
of the above-mentioned eight per centum of the assessed valua-
tion of real and personal property set forth herein, a sum or
sums of money at any time for the purpose of paying for
storm water or surface drainage improvements. For this
purpose, the Mayor and Town Council may issue bonds or
certificates of indebtedness, which shall be payable on or
before ten years from the date of issuance, with interest not
to exceed the rate of six per centum per annum, payable semi-
annually, and with such annual principal payments as may
be fixed by said Mayor and Town Council.

The Mayor and Town Council of Forest Heights is author-
ized and directed to levy annually an ad valorem tax upon
all of the assessed property in said town sufficient to produce
each year a sum sufficient to meet the principal and interest
payments on said bonds or certificates of indebtedness for
that year.

The Mayor and Town Council is hereby authorized and em-
powered to do all acts not specifically mentioned herein which
may be necessary to issue and sell such bonds or certificates of
indebtedness, provide for the payment thereof and interest
thereon, and to arrange for the construction or acquisition of
the improvements mentioned herein. All bonds or certificates
of indebtedness issued hereunder shall be the direct obliga-
tion of the Mayor and Town Council of Forest Heights, and
the said corporation shall be responsible therefor.