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Session Laws, 1943
Volume 584, Page 1955   View pdf image (33K)
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HERBERT R. O'CONOR, GOVERNOR. 1955

assessable property within the corporate limits of such county
sufficient to make up such inadequacy or deficiency in the
revenues available for principal and interest maturities on
such bonds or notes. Said bonds and notes hereby authorized,,
and the interest payable thereon, in the hands of the persons
entitle thereto from time to time, shall be and remain forever
exempt from all state, county and municipal taxation of every
kind and nature whatsoever in the State of Maryland.

VII. Immediately upon the sale of any bonds or
notes issued under the preceding section on account of
lands acquired in Montgomery County the Commission is
directed to certify to the County Commissioners of Mont-
gomery County the amount of bonds or notes so issued, the
rate of interest and maturities, and so long as any of said
bonds or notes shall be outstanding and unpaid, the County
Commissioners are hereby authorized and directed to levy
against all property within that portion of the Maryland-
Washington Metropolitan District within Montgomery
County assessed for the purposes of county taxation an an-
nual tax in a sum sufficient to pay the interest on said bonds
or notes and to pay the principal of the said bonds or notes
upon maturity. The said tax shall be levied and collected,
and have the same priority rights, bear the same interest and
penalties and in every respect be treated as county taxes. As
hereinabove provided, the proceeds of the collection of said
tax shall be the primary source of revenue for the payment
of the principal and interest maturities of said bonds or
notes. The tax so levied shall be collected by the County
Commissioners of Montgomery County, and every sixty (60)
days they shall remit to the Commission the whole amount
of the tax so collected to date.

Said Commission may, with the consent of the County
Commissioners of Prince George's County, apply for under
Paragraphs or Sub-sections (a) -and (b) of Section 1 of Pub-
lic Act 284 such additional sum or sums not to exceed f 800, -
000. 00 as may be legally allotted or can be advanced to said
Commission for the purpose of purchase of park land within
said county and if such funds are advanced to or for said
Commission it may enter into the same commitment or con-
tract as to funds for park purchases in Prince George's
County, and is authorized and directed to repay the same by
the issuance and sale of bonds or notes in the same manner
as herein provided for as to Montgomery County, in which
event all of the provisions of this section and Section VI,
shall apply equally to both counties as to the respective
amounts allotted or advanced for each county. All or any
of the bonds or notes issued under this Act shall be guar-
anteed by the County Commissioners of Montgomery County,

 

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Session Laws, 1943
Volume 584, Page 1955   View pdf image (33K)
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