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Session Laws, 1943
Volume 584, Page 1953   View pdf image (33K)
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HERBERT R. O'CONOR, GOVERNOR. 1953

County Commissioners of Montgomery County, which guar-
antee shall be endorsed on each of said bonds in the following
language: "The payment of interest when due and of the
principal on maturity is guaranteed by Montgomery County,
Maryland77; and such endorsement shall be signed on each of
said bonds by the President and Clerk of the Board of County
Commissioners of Montgomery County within twenty days
after the bonds are presented by said Commission to them for
endorsement, and likewise, if said tax is levied and collected
only throughout that portion of the district within Prince
George's County; provided, however, that in the event that
the said seven cent (7^) tax is levied and collected throughout
the District the proceeds of the sale of bonds issued under
this section shall be expended in that portion of each county
within the District in such proportion as the assessable basis
of such portion of either county bears to the assessable basis
of the whole of said District, but, in such event, the Commis-
sion may issue such bonds for carrying out its corporate pur-
poses 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 cent (7^) tax levied by the
county benefited; and, provided further, that in the event
that said seven cent (7^) tax is levied and collected only in
that portion of the District in Montgomery County the pro-
ceeds of the sale of bonds issued under this section shall be
expended within that portion of the District within Mont-
gomery County and upon the recommendation of the members
of the Commission from Montgomery County, and, in like man-
ner, 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 en-
abling 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 Con-
gress, above referred to, the Commission may, at its discre-
tion, enter into any contract or commitment with the United
States or any bureau or agency thereof or the Nationalv
Capita] 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 de-
livered upon such terms and conditions, not contrary to
this Act, as said Commission may agree to with said Na-
tional Capital Park and Planning Commission. As an alter-
62

 

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Session Laws, 1943
Volume 584, Page 1953   View pdf image (33K)
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