ALBERT C. RITCHIE, GOVERNOR. 977

within the Sanitary District; provided, however, that the

issuance of said bonds under this Act shall be first approved
by the Public Service Commission of Maryland, upon proper
petition, thirty clays notice and hearing as now provided by
the law for Public Service Corporations in the State of
Maryland and the said Public Service Commission is hereby
given jurisdiction and authority to determine the reasonable-
ness of all such issues of bonds. Said bonds shall be either
registered or coupon bonds in such denomination or denomi-
nations as shall be determined by the Commission, shall bear
interest not exceeding five per centum, (5%) per annum,
payable semi-annually and shall mature not exceeding fifty
years from the date of issue, and all bonds of said Commission,
including those heretofore issued, shall be forever exempt
from taxation by the State of Maryland, and by the Counties
and municipalities in said State.

They shall be issued under the hand and seal of said Com-
mission and shall be guaranteed as to payment of principal
and interest by the County Commissioners of both Mont-
gomery and Prince George's Counties, which guaranty shall
be endorsed on each of said bonds in the following language:
"The payment of interest when due and the principal at
maturity is guaranteed by Montgomery and Prince George's
Counties, Maryland. " Such endorsement shall be signed on
each of said bonds by the President and Secretary or 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 guaranty, such liability for each
county shall be in such proportion as the assessable basis of
that part of either county within the Sanitary District bears
to the assessable basis of the whole of said District. Said
Commission may in its discretion purchase and cancel the
present outstanding bonds issued by authority of Chapter
313 of the Acts of 1916 out of the funds derived from any
issue of bonds under this Act.

Section 8. And be it further enacted, That the construc-
tion or acquisition of said water mains or sewers is hereby
declared to be a benefit to all property abutting upon the same
and said Commission for the purpose of assessing benefits for
the construction of water supply and sewerage systems, shall
divide all properties binding upon a street, road, lane, alley
or right of way, in which a water pipe or sanitary sewer is