HERBERT R. O'CONOR, GOVERNOR. 1757

that the said seven (7c) cent tax is levied and collected
throughout the district the proceeds of the sale of bonds is-
sued under this section shall be expended in that portion of
each county within the district in such proportion as the as-
sessable basis of such portion of either county bears to the
assessable basis of the whole of said district, but, in such
event, the Commission may issue such bonds for carrying out
its corporate purposes in that portion of the district within
either County, the principal and interest to be guaranteed by,
and payable, as above provided, from the seven (7) cent tax
levied by, the County benefited; and, provided, further, that
in the event that said seven (7) cent tax is levied and col-
lected only in that portion of the district in Montgomery Coun-
~ty the proceeds of the sale of bonds issued under this section
: shall be expended within that portion of the district within
Montgomery County and upon the recommendation of the mem-
bers of the Commission from Montgomery County, and, in like
manner, if said tax is levied only in Prince George's County;
and provided further, that for the purpose of securing any
of the advances authorized by and generally for the purpose
of enabling the Commission to comply with paragraphs or
sub-sections (a) and (b) of Section 1 of the Act of Congress
of the United States, known as Public Act 284 of the 71st
Congress, above referred to, the Commission may, at its dis-
cretion, enter into any contract or commitment with the
United States or any bureau or agency thereof or the National
Capital Park and Planning Commission, and in addition, the
Commission may, at its discretion, issue serial maturity bonds
or term notes and deliver the same to the National Capital
Park and Planning Commission or other like agency of the
United States, in partial or full payment of such commitments
or obligations as the Commission may make, assume or incur
in complying with the provisions of said Public Act 284, said
bonds or notes to be issued and delivered upon such terms
and conditions, not contrary to this Act, as said Commission
may agree to with said National Capital Park and Planning
Commission. As an alternative, said Commission may, in its
discretion, sell said bonds or notes at public sale or by private
negotiation at not less than the par value thereof and may
use the proceeds thereof to meet the obligations or commit-
ments above referred to. Such bonds or notes, if and when
issued under either alternative, may be of such denomination,
may bear such rate of interest (not exceeding five per cent
(5%) per annum) payable at such times or places, and may
be of such form or tenor as the Commission shall, in its
discretion, determine. The bonds hereby authorized shall
nil be issued to mature in varying or equal annual serial in-