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Session Laws, 1931
Volume 580, Page 935   View pdf image (33K)
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ALBERT C. RITCHIE, GOVERNOR.                  935

$800, 000. 00 as may be legally allotted or can be advanced to
said Commission, for the purpose of purchase of park land with-
in said county and if such funds are advanced to said Commis-
sion it may enter into the same commitment or contract as to
funds for park purchases in Prince George's County, and is
authorized and directed to repay the same by the issuance and
sale of bonds in the same manner as herein provided for as to
Montgomery County, in which event all of the provisions of
this section and Section 8 shall apply equally to both counties
as to the respective amounts advanced for each county. All or
any of the bonds issued under this Act shall be guaranteed by
the County Commissioners of Montgomery County, as herein
provided for, in so far as the proceeds thereof are required for
the repayment of advances by the Federal Government for the
purchase of park land within Montgomery County, and by the
County Commissioners of Prince George's County in so far as
the proceeds thereof are required for the repayment of ad-
vances by the Federal Government for the purchase of park
land in Prince George's County.

From the effective date of this Act to the date on which
interest shall begin to accrue on any bonds issued hereunder,
the County Commissioners of Montgomery County are hereby
authorized and directed to levy against all of the property
within that portion of the Maryland-Washington Metropolitan
District within Montgomery County assessed for the purposes
of county taxation annually a tax of 7 cents on each $100 of
assessed valuation. Such tax shall be levied notwithstanding
the fact that no interest may be due on said bonds, and/or
notwithstanding the fact that no bonds whatever shall have
been issued hereunder; and every sixty (60) days the tax so
levied and collected by the County Commissioners of Mont-
gomery County shall be remitted to the Commission, and the
Commission is hereby authorized and empowered to issue its
promissory notes in a sum not to exceed $200, 000. 00; the said
notes to be issued from time to time in such amounts as the
Commission may deem necessary to carry out the purposes of
this Act. All money received by the Commission from such
notes shall be expended in Montgomery County, and the said
notes shall be retired on or before the date on which interest
shall begin to accrue on any bonds issued hereunder from such
portion as may be necessary of the proceeds of the seven (7c. )
cent tax so authorized to be collected and paid to the Commis-
sion. The remaining proceeds of the said seven (7c. ) cent tax

 

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Session Laws, 1931
Volume 580, Page 935   View pdf image (33K)
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