J. MILLARD TAWES, Governor                     1283

to the extent necessary to reimburse the general funds used in the
previous year.

(e)    Right to contract.

The Commissioners are hereby given all of the power and authority
to condemn property or interests therein, to negotiate and make
contracts with any municipality, adjacent county, the District of
Columbia, the United States Government or any agency thereof,
the State of Maryland, or any agency thereof, and any other person,
corporation in performing and providing the proper administration
of the provisions of this Act.

(f)    Borrowing power.

The Board of County Commissioners of Prince George's County,
for the purpose of making any of the improvements provided in this
section, or providing the governmental services or municipal func-
tions or for the maintenance and operation of said facilities or
systems within the defined areas, 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 six per centum (6%) 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 moneys 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 improvement of which
said money is being borrowed, and said bonds, notes or other evi-
dences 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 10 of Article
31 of the Code of Public General Laws of Maryland (1957 Edition),
as amended. None of said bonds, notes or evidences of indebtedness
shall be issued to mature over a longer period than 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 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 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 resolu-
tion provide, in each case, that in the event the proceeds of the
collection of such special assessments are in any year insufficient for
the purpose of paying the principal and interest maturities of any
such bonds, notes or evidences of indebtedness, such deficiency shall
be made up by the County from the proceeds of unlimited ad valorem
taxes which it is hereby authorized and directed to levy upon all
assessable property within the corporate limits of the County sub-
ject to unlimited taxation thereby. Any bonds issued pursuant to
the authority of this section and the interest payable thereon and
the income derived therefrom in the hands of the holders thereof
from time to time shall be, and is hereby declared to be, exempt from
State, County and municipal taxation of every kind and nature
whatsoever in the State of Maryland.