THEODORE R. MCKELDIN, GOVERNOR 421

walks, gutters and storm water sewers in Section 1, the District
Heights Commission is hereby authorized and empowered to
borrow from time to time, on the credit of the town, a sum or
sums of money which shall not, however, exceed in amount at
any one time the total sum of eight per centum (8%) of the as-
sessed valuation of all real 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 on or before ten (10) years from the
date of issuance, with interest not to exceed the rate of six per
centum (6%), payable semi-annually, unless of shorter dura-
tion 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 District Heights Commission in some safe
banking institution in the State of Maryland, to be determined
by it, and to be subject to the check of the town treasurer only
when countersigned by the Chairman Commissioner and one
member of the District Heights Commission. Out of said
funds shall be paid only the proper expenses for the negotia-
tion, sale and liquidation of said bonds or certificates of indebt-
edness and for the planning and construction or reconstruction
of the streets, roadways, alleys, curbs, sidewalks and gutters
and storm water sewers as provided for herein.

The hereinbefore mentioned limitation of eight per centum
(8%) of the assessed valuation constitutes an overall limita-
tion of borrowing capacity, notwithstanding any borrowing
power heretofore authorized by the General Assembly of Mary-
land, and any sums outstanding incident to any heretofore
authorized bond issues shall be included in the determination
of the limitations authorized in this Act.

SEC. 3. And be it further enacted, That the District Heights
Commission is hereby authorized to do all acts not specifically
mentioned herein which may be necessary to issue and sell said
bonds or certificates of indebtedness, provide for the payment
thereof and the interest thereon, and to arrange for and con-
struct or reconstruct the streets, roadways, alleys, curbs, side-
walks, gutters, and storm water sewers as provided for herein.
The bonds, or certificates of indebtedness issued hereunder
shall be the direct obligation of the Town of District Heights,
Maryland, and the said municipal corporation shall be re-
sponsible therefor.

SEC. 4. And be it further enacted, That the District Heights
Commission shall have power to assess against the abutting
property and collect from the owners thereof the cost of streets,
roadways, alleys, curbs, sidewalks, and gutters and storm
water sewers, assessment being in proportion to the number