1524 LAWS OF MARYLAND. [CH. 676

centum of the total assessed value of the property assessed for
County taxation purposes within said Sanitary District; pro-
vided, however, that the issuance of said bonds under this Act
shall be first approved by the Public Service Commission of
Maryland, upon proper petition, notice and hearing as now pro-
vided by law for the issuance of securities by public service cor-
porations in the State of Maryland, and the Public Service Com-
mission is hereby given jurisdiction and authority to determine
the reasonableness of all such issues of bonds. Said bonds shall be
either registered or coupon bonds in such denomination or de-
nominations as shall be determined by the Commission, shall
bear interest at a rate not exceeding five per centum per annum,
payable semi-annually, and shall mature in not more than thirty
years after date of issue, and shall be for ever exempt from
State, City and County taxation. They shall be issued under
the signature and seal of said Commission, and shall be guaran-
teed as to payment of principal and interest by the County
Commissioners of Anne Arundel County, which guaranty shall
be endorsed on each of said bonds in the following language:
"The payment of interest when due and of the principal at
maturity is guaranteed by Anne Arundel County, Maryland."
Such endorsement shall be signed on each of said bonds by the
President and by the Secretary or Clerk of the Board of County
Commissioners of said County, within twenty days after the
bonds are presented by the Commission to them for endorse-
ment. At any time prior to the issuance of any such bonds, the
County Commissioners of Anne Arundel County are hereby au-
thorized and directed to loan to the Commission, on the Com-
mission's promisory notes or other evidence of indebtedness,
such sum or sums, not to exceed Ten Thousand Dollars ($10,000),
as the Commission may from time to time request, pending the
flotation and issuance of said bonds; but any amount so loaned
to the Commission shall be refunded by it to the County Com-
missioners out of the first available monies derived from the sale
of the first bonds issued thereafter.

SEC. 8. And be it further enacted, That for the purpose of
retiring the bonds authorized by this Act to be issued, and of
piaying the interest thereon, or is connected with the water sup-
ply or the water, drainage or sewerage system therein, the Com-
mission shall cause to be levied against all assessable property
within said Sanitary District in respect of which said bonds
may have been issued by the County Commissioners of Anne
Arundel County annually so long as any of said bonds are out-
standing and not paid, a tax sufficient to provide such sum, if
any, as the Commission may deem sufficient and necessary, in
conjunction with any amounts to its credit in the current in-
terest and sinking fund account. provided for in Section 13 of
this Act plus such additional amount as the Commission may