1954 LAWS OF MARYLAND. [CH. 1008

native, 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 commitments above referred to.
Such bonds or notes, if and when issued under either alterna-
tive, may be of such denomination, may bear such rate of
interest (not exceeding five per cent (5%) per annum) pay-
able 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 all be issued to mature in vary-
ing or equal annual serial installments, beginning not later
than ten years from date of issue, but none of said bonds shall
mature more than sixty years from its date of issue. The
notes hereby authorized shall be issued to mature at one time
as to each issue, not later than ten years from their respective
date or dates of issue, and they shall not be subject to renewal
or extension. Such of said bonds or notes as shall be issued in
connection with the acquisition of park lands in Montgomery
County shall be unconditionally guaranteed as to payment of
principal and interest in the manner hereinabove prescribed
by the County Commissioners of Montgomery County, and the
President of the Board of County Commissioners shall endorse
the guarantee on each bond or note on behalf of the County
and the corporate seal of the County shall be affixed to each
bond or note attested by the Clerk to said Board of County
Commissioners. Likewise bonds or notes issued hereunder
in connection with the acquisition of park lands in Prince
George's County shall be similarly guaranteed by the County
Commissioners of Prince. George's County. In no event shall
there be outstanding at any one time bonds and notes author-
ized by this proviso for the purpose of obtaining the benefits
of said Public Act 284, including the substitute or refunding
bonds hereafter authorized, in excess of $1, 200, 000. 00 aggre-
gate par amount with respect to lands purchased in Mont-
gomery County or in excess of $800, 000. 00 with respect to lands
purchased in Prince George's County, but the authority herein
granted shall be a continuing one and may be exercised from
time to time hereafter until repealed so long as the maximum
limitations herein prescribed are not exceeded. All of said
bonds and notes shall be issued on the full faith and credit
of the Maryland-National Capital Park and Planning Com-
mission and upon the full faith and credit of the county guar-
anteeing the same, and the principal and interest maturing
thereon shall be payable from the proceeds of the collection
of the taxes hereafter authorized in this Act, and in the
event of the inadequacy of said taxes for such purpose, there
shall be levied by the county guaranteeing said bonds, in each
year that any such inadequacy shall exist, a tax upon all the