HERBERT R. O'CONOR, GOVERNOR. 1103

and shall thereupon be entitled to a writ of possession. At
the time of taking possession under such declaration of taking
or such verdict of award, as above provided, said Commission
shall give its corporate undertaking to abide by and faithfully
fulfill the obligations of its declaration of taking, or verdict
of award in said proceedings, and any judgment against it on
further proceedings or appeal.

Said Commission is authorized and empowered to sell,
transfer and convey any of its real or personal property not
considered by it necessary for the operation of its water or
sewer systems, and all such sales, transfers or conveyances
heretofore made by said Commission are hereby ratified and
confirmed.

994. (1018) For the purpose of providing funds for the
design, construction, establishment, purchase or condemnation
of the water supply, sewerage and drainage system in the
Sanitary District, said Commission is authorized and empow-
ered to issue bonds, from time to time, in such amounts as it
may deem necessary to carry on its work, but at no time shall
the total issue of bonds, not including the payment of bonds
assumed under this Act, exceed fourteen per centum of the
total assessable basis of all property assessed for county taxa-
tion purposes, 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 days' notice and hearing as now pro-
vided 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
sinking fund bonds, the principal payable, as to each issue,
at a given time, out of the sinking fund provided for in this
Act, or serial bonds with the principal of any given issue re-
payable annually, either type of bond may be either registered
or coupon bonds, or register able as to principal with interest
represented by coupons, and issued in such denomination or
denominations as shall be determined by the Commission, shall
bear interest not to exceed 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 Montgomery
and Prince George's Counties, which guaranty shall be en-