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Session Laws, 1939
Volume 581, Page 1379   View pdf image (33K)
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HERBERT R. O'CONOR, GOVERNOR. 1379

sioners of Prince George's County in so far as the proceeds
thereof are required for the payment of advances by the Fed-
eral 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 f 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. The
Commission is hereby authorized and empowered from time
to time during any fiscal year to borrow such sums of money
on promissory notes, to be known as Tax Anticipation Certifi-
cates of Indebtedness to bear interest at not exceeding six per
centum (6%) per annum, to be signed by the Chairman and
the Secretary-Treasurer of the Commission, as may be neces-
sary to meet its expenses within Montgomery County under
this Act, from any bank or institution or individual willing to
lend the same, and from time to time to issue and renew its
Tax Anticipation Certificates of Indebtedness for the same
bearing interest at not exceeding six per centum (6%) per an-
num provided that the total amount so borrowed and outstand-
ing in any fiscal year shall not exceed 75 per centum of the
total proceeds received by the Commission from the tax levied
and collected during the Commission's preceding fiscal year
within Montgomery County under this section; and provided
further that all moneys so borrowed within any fiscal year
shall be repaid during the next succeeding fiscal year from the
proceeds of the said tax received by the Commission in the
fiscal year last mentioned. The remaining proceeds of the said
seven (7c) cent tax may be used by the Commission within its
discretion for the purpose of policing the several parks or
other areas under its jurisdiction and/or for the purpose of
development, beautification or maintenance of such parks
and/or other areas and/or the establishment therein of such
playground and recreational facilities as the Commission may
determine.

SEC. 2. And be it further enacted, That if any clause, sen-
tence, part or parts of this Act, or of any section thereof shall
be held unconstitutional, such: unconstitutionality shall not
affect the validity of the remaining part of this Act or of any


 

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Session Laws, 1939
Volume 581, Page 1379   View pdf image (33K)
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