THEODORE K. MCKELDIN, GOVERNOR 615

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Section 1286 of the Code of Public Local Laws of
Prince George's County (Flack's 1943 Edition), being Article
17 of the Code of Public Local Laws of Maryland, as enacted by
Chapter 917, Section 3, Acts of 1941, as amended by Chapter
619 of the Acts of 1949, be, and the same is hereby, repealed
and re-enacted, with amendments, to read as follows:

1286. The County Commissioners of Prince George's County,
for the purpose of making any of the above mentioned improve-
ments in any special improvement district or for the mainte-
nance of any municipal functions within any such district are
hereby given full power and authority to borrow upon the faith
and credit of Prince George's County such sum or sums as may
be needed for the purposes above mentioned, to fix the maturity
or maturities of any such debt, the interest rate or rates, not
exceeding five per centum (5%) per annum, and manner and
place of payment, and in each instance to issue their bonds or
notes or other evidences of indebtedness for the amount of
money so borrowed. Said bonds, notes or other evidences of
indebtedness shall be issued in groups or series, each such
group or series to be appropriately identified with the special
improvement district for the improvement of which said money
is being borrowed, and said bonds, notes or other evidences of
indebtedness may be sold by the County Commissioners of
Prince George's County from time to time at public sale or by
private negotiation, notwithstanding the provisions of Section
35 of Article 31 of the Code of Public General Laws of Mary-
land (1939 Edition), as amended. None of said bonds, notes
or evidences of indebtedness shall be issued to mature over a
longer period of ten (10) years from the date of issue, and they
shall be issued on an annual serial maturity plan so arranged
as to correspond as nearly as possible in amounts with the
aggregate amounts of special assessments and ad valorem
taxes levied in the district with respect to which they are
issued, as above provided, and the County Commissioners of
Prince George's County shall, by a proper resolution in each
case, provide for the issuance of said bonds, notes or other
evidences of indebtedness and for the liquidation thereof and
the interest thereon by the application of the receipts of the
special assessments or ad valorem taxes levied in and received
from the special improvement district with respect to which
said bonds, notes or evidences of indebtedness are issued, and
the County Commissioners of Prince George's County shall,
also by said resolution provide, in each case, that in the event
the proceeds of the collection of such special assessments or
ad valorem taxes are in any year insufficient for the purposes
of paying the principal and interest maturities of any such