1762 LAWS OF MARYLAND. [CH. 921

of sale of the bonds or notes authorized in this or any of the
preceding sections of this sub-title.

From the effective date of this Act the County Commis-
sioners 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 taxa-
tion annually the tax of 7 cents on each $100. 00 of assessed
valuation, authorized in the next preceding section. Such tax
shall be levied notwithstanding the fact that no interest may
be due on said bonds or notes and/or notwithstanding the fact
that no bonds or notes whatever shall have been issued here-
under; and every sixty (60) days the tax so levied and col-
lected to date by the County Commissioners of Montgomery
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 Certificates of In-
debtedness to bear interest at not exceeding six per centum
(6%) per annum, to be signed by the Chairman and the Secre-
tary-Treasurer of the Commission, as may be necessary to meet
its expenses within Montgomery County under this Act and
also to meet debt service payable from said tax on the bonds
first authorized in the next preceding section, said sums of
money to be borrowed from any bank or institution or indi-
vidual willing to lend the same, and said Commission is
hereby authorized from time to time to reissue or renew its
said Tax Anticipation Certificates of Indebtedness at the same
or a greater interest rate not exceeding six per centum (6%)
per annum provided that the total amount so borrowed and
outstanding 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 Com-
mission in the fiscal year last mentioned. The remaining pro-
ceeds of the said seven (7) cent tax may be used by the Com-
mission within its discretion for said debt service above re-
ferred to and/or 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,
sentence, part or parts of this Act, or of any section thereof