3976 ARTICLE 17.

1927, ch. 448, sec. 8.

727. For the purpose of paying for lands or other property within the
District acquired or to be acquired by the Commission, whether by con-
demnation or purchase, for parks, parkways, forests, streets, roads, high-
ways, boulevards and other' public ways, grounds and spaces, or for the
development or improvement thereof, the Commission is hereby author-
ized and empowered to issue bonds from time to time in such amounts
as it may deem necessary for said purposes; provided, however, that the
total amount of such bonds outstanding at any time shall not exceed such
amount as can be redeemed within twenty (20) years from date of issue
by means of the seven (7c) cent tax provided for in Section 593 of this
subtitle. The Comptroller of the State of Maryland shall at any time or
times, upon the request of the Commission, calculate and certify to the
Commission the amount of such bonds which may be issued within said
limitation; and the certificate of the Comptroller shall be final and bind-
ing authority to the Commission as to such amounts. Said bonds shall be

either registered or coupon bonds in such denomination or denominations
as shall be determined by the Commission and shall bear interest at not
exceeding five per cent, per annum, payable semi-annually, and shall ma-
ture in not exceeding twenty years from the date of issue and shall be
forever exempt from State, County and Municipal taxation. They shall
be issued under the hand and seal of said Commission and shall be guar-
anteed as to the payment of principal and interest in the following man-
ner: In the event that the seven cent (7c) tax provided for in Section
593 of this subtitle is levied and collected throughout the District the
said bonds shall be guaranteed as to the payment of principal and interest
by the County Commissioners of both Montgomery and Prince George's
Counties, which guarantee shall be endorsed on each of said bonds in the
following language: "The payment of interest when due and of the prin-
cipal on maturity is guaranteed by Montgomery and Prince George's

Counties, Maryland"; and such endorsement shall be signed on each of
said bonds by the president and secretary or the Clerk of the Board of
County Commissioners of each County within twenty days after the bonds
are presented by said Commission to them for endorsement. In the event

of any liability under the above guarantee, such liability for each County
shall be in such proportion as the assessable basis of that part of such

County within the District bears to the assessable basis of the whole of
said District. In the event that the seven cent (7c) tax provided for in
Section 593 of this subtitle is levied and collected only throughout that
portion of the District within Montgomery County the said bonds shall
be guaranteed as to the payment of principal and interest by the County
Commissioners of Montgomery County, which guarantee shall be endorsed
on each of said bonds in the following language: "The payment of interest
when due and of the principal on maturity is guaranteed by Montgomery
County, Maryland"; and such endorsement shall be signed on each of
said bonds by the President and Clerk of the Board of County Commis-
sioners of Montgomery County within twenty days after the bonds are pre-