2022 LAWS OF MARYLAND [CH. 691

THORITIES FOR ANY CONSTRUCTION WITHIN THE
DISTRICT OF COLUMBIA after January 1, 1951, the Wash-
ington 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 from time to time, in such amounts
as it may deem necessary, but the aggregate amount of bonds
hereafter issued under this section shall be included in and
subject to the fourteen per centum (14%) limitation as pro-
vided in Section 5 of Chapter 122 of the Acts of the General
Assembly of 1918 as, amended. Bonds hereafter issued under
the authority of this section shall be serial bonds with the
principal of any given issue payable annually, commencing
not more than three years from the date of the bonds. The
bonds may be either registered or coupon bonds, or registerable
as to principal with interest represented by coupons, and
issued in such denomination or denominations as shall be
determined by the Commission, shall bear interest not to
exceed five per centum (5%) per annum payable semi-annually
and shall mature not exceeding forty years from the date of
issue, and all said bonds of said Commission shall be forever
exempt from taxation by the State of Maryland and by the
counties and municipalities in said State.

They shall be issued under the hand and seal of said Com-
mission and shall be guaranteed as to payment of principal
and interest by the County Council and by the County Com-
missioners of both Montgomery and Prince George's Counties,
which guarantee shall be endorsed on each of said bonds in the
following language: "The payment of interest when due and
the principal at maturity is guaranteed by Montgomery and
Prince George's Counties, Maryland. " The bonds of the Sani-
tary Commission shall be signed by the Chairman and the
Secretary-Treasurer of the Commission or, if the Commission
shall so provide, by any two of its members and the official seal
of the Commission shall be impressed upon the bonds. Said
guarantee or endorsement by the County Council and by the
County Commissioners shall be signed on each of said bonds on
behalf of each County by the Secretary or Clerk of the Board
of the County Council and the BOARD OF County Commis-
sioners or by any officer designated for such purpose by the
said County Council and County Commissioners, within twenty
days after the bonds are presented by said Commission for
the signing of such endorsement. In the event of any liability
under the above guarantee, such liability for each county shall
be in such proportion as the assessable basis of that part of
either county within the Sanitary District bears to the assess-
able basis of the whole of said District.