1038 LAWS OF MARYLAND [CH. 551

respects as city taxes collected by the City Collector and
shall have all the priorities and lien rights of city taxes.

[852-B. (3) The Mayor and City Council, for the pur-
pose of making improvements in said "Fairlawn" District
of the Town of Laurel or for the operation or maintenance
of any municipal function within the said district, are
hereby given full power and authority to borrow, upon the
faith and credit of the Town of Laurel, such sum or sums
as may be needed for the purposes mentioned; to fix the
maturity or maturities of any such debt; the interest rate
and manner and place of payment; and to issue their evi-
dences of indebtedness for the amount of the money so
borrowed, provided, however, that no part of any such
debt shall run for a longer period than twenty (20) years,
and the Mayor and City Council shall, by proper resolution,
provide for the liquidation of said debt by the application
of receipts of special assessments or taxes collected and
received as hereinbefore provided and allocated from said
"Fairlawn" District. Provided further, that at no time
shall the Mayor and City Council be obligated for a greater
amount than $700, 000 for monies borrowed under this sub-
title. ]

852B. (3) The Mayor and City Council, for the purpose
of constructing, reconstructing, extending, maintaining or
repairing the public improvements above-mentioned in said
"Fairlawn" District of the Town of Laurel, are hereby
given full power and authority to borrow such sum or sums
within the limitations herein mentioned as may be needed
for the purposes mentioned; to fix the maturity or maturi-
ties of any such debt; to fix the interest rate or the manner
of determining the same and manner and place of payment;
to issue and sell bonds for the amount of the money so
borrowed, provided, however, that no bond so issued shall
mature later than twenty (20) years after the date of its
issuance; and to fix all details not herein otherwise referred
to with respect to the issuance and sale of said bonds; said
bonds to be signed by the Mayor and countersigned by the
Treasurer of the Town of Laurel and the corporate seal
attached thereto attested by the Clerk to the City Council.
The Mayor and City Council are directed and empowered,
by proper ordinance or resolution, to provide for the pay-
ment of the maturing principal of and interest on said
bonds by the application of receipts of the special assess-
ments hereinabove referred to and from the ad valorem
taxes collected in the said "Fairlawn" District as herein-
before referred to, but the Mayor and City Council are pro-