1774 LAWS OF MARYLAND [CH. 586

total sum of [eight] ten per centum of the assessed valuation
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] eleven years from the date of
issuance in twenty equal semi-annual installments, the first be-
ing not more than eighteen months after 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. 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 indebtedness, and for the planning
and construction of the roadbeds, sidewalks, curbs, gutters,
and street improvements as provided for herein.

(b) 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 limita-
tion of the above mentioned [eight] ten per centum of the
assessed valuation 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] eleven 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.

(c) The Mayor and Town Council of Forest Heights is auth-
orized and directed to levy annually an ad valorem tax upon all
of the assessed property in said town sufficient to meet the
principal and interest payments on said bonds or certificates
of indebtedness for that year.

(d) The Mayor and Town Council is hereby authorized and
empowered to do 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 obligation
of the Mayor and Town Council of Forest Heights, and the said
corporation shall be responsible therefor.