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Session Laws, 1949
Volume 590, Page 1805   View pdf image (33K)
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WM. PRESTON LANE, JR., GOVERNOR. 1805

ceeding forty years, and at such rate, not exceeding four per
cent (4%), as it may determine, such bonds to be the general
obligation of the Washington Suburban Sanitary District,
guaranteed as to both principal and interest by the County
Commissioners of Prince George's County only; the County
Commissioners of Prince George's County are hereby author-
ized and directed to guarantee said bonds in substantially
the manner and form of the guarantee of the construction
bonds of said Commission. Such guarantee shall operate as
a pledge of the full faith and credit of the County Commis-
sioners of Prince George's County to the payment of the
maturing principal and interest of said bonds and, to the ex-
tent that the taxes hereinafter in this Sub-Section provided
for are inadequate to provide the funds necessary to pay such
principal and interest in any year, said County Commission-
ers shall levy upon all property subject to taxation within its
corporate limits ad valorem taxes in rate and amount suf-
ficient to make up any such deficiency. For the purpose of
paying the principal of said bonds as they mature and the
interest thereon, the County Commissioners of Prince
George's County are directed to levy annually upon all of
the property assessed for county tax purposes within the por-
tion of said Sanitary District in Prince George's County,
upon the certification of the Washington Suburban Sanitary
Commission, an ad valorem tax at a rate necessary to pro-
duce annually the sum required to pay the principal and in-
terest for the current year on said bonds or any part thereof
outstanding, which tax shall be levied and collected as other
Commission ad valorem taxes are levied and collected and
paid to said Commission.

(3) The Maryland National Capital Park and Planning
Commission is authorized to issue its bonds in an amount not
exceeding $250, 000 in such denominations and for such terms,
not exceeding forty years, and at such rate, not exceeding
four per cent (4%), as it may determine, such bonds shall
be issued on the full faith and credit of the Maryland Na-
tional Capital Park and Planning Commission and guaran-
teed as to both principal and interest by the County Commis-
sioners of Prince George's County only; the County Commis-
sioners of Prince George's County are hereby authorized and
directed to guarantee said bonds in substantially the manner
and form of the guarantee of the construction bonds of said
Commission. Such guarantee shall operate as a pledge of the
full faith and credit of the County Commissioners of Prince
George's County to the payment of the maturing principal
and interest of said bonds and, to the extent that the taxes
hereinafter in this sub-section provided for are inadequate to

 

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Session Laws, 1949
Volume 590, Page 1805   View pdf image (33K)
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