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Session Laws, 1949
Volume 590, Page 1292   View pdf image (33K)
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1292 LAWS OF MARYLAND. [CH. 537

having been passed by a yea and nay vote, supported by three-
fifths of all of the members elected to each of the two Houses
of the General Assembly of Maryland, the same shall take
effect from the date of its passage.

Approved April 29, 1949.

CHAPTER 537

(House Bill 281)

AN ACT to authorize the issuance of bonds of the Washington
Suburban Sanitary District to enlarge, increase and aug-
ment the water supply of said District.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the Washington Suburban Sanitary Commission,
created by Chapter 122 of the Acts of the General Assembly
of Maryland of 1918, be and it is hereby authorized and
empowered to issue bonds of said Sanitary District in an
aggregate principal amount not exceeding Four Million Dol-
lars (|4, 000, 000), which bonds shall be in addition to any
bonds authorized to be issued under said Chapter 122, or any
amendments thereof, or under any other Act of the General
Assembly of Maryland, and shall be registered or coupon
bonds, in such denomination or denominations as shall be
determined by said Commission, and shall bear interest at a
rate or rates not exceeding four per centum (4%) per annum,
payable semi-annually, and shall be retired serially, the last
bond to be retired not later than forty (40) years from the
date of issue. Said Commission may offer for sale and issue
such bonds, from time to time, as its necessity requires. Said
bonds shall be executed and issued under the same provisions,
limitations and restrictions, applicable to the bonds hereto-
fore issued by said Commission under the provisions of said
Chapter 122, as amended, except that the said bonds shall
not be subject to the limitation in said Chapter 122, as
amended, on the amount of bonds that may be issued and
shall not be included in computing the amount of bonds that
may be issued under said Chapter 122, as amended, and said
bonds shall be forever exempt from taxation by the State of
Maryland and by the counties and municipalities in said
State. The said bonds shall be guaranteed, as to the pay-
ment of principal and interest, by the County Council and
by the County Commissioners of both Montgomery and
Prince George's Counties, which guarantee shall be in the
form and under the provisions of Section 5 of said Chapter
122, or any amendment thereof.

 

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Session Laws, 1949
Volume 590, Page 1292   View pdf image (33K)
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