THEODORE R. MCKELDIN, GOVERNOR 1757

delivery, then and in that event the Maryland-National
Capital Park and Planning Commission is authorized and
empowered, if permitted by said contracts, to redeem or
re-purchase said bonds or notes at not exceeding the par
value thereof plus accrued interest and to provide funds
for such redemption or re-purchase by the issue and sale
from time to time of refunding bonds in the manner and
upon the terms and conditions hereinafter set forth.

Said bonds may be issued in units or series correspond-
ing in par amounts to the bonds or notes to be re-purchased
or refunded and bearing the same numbers and series
letters as said bonds or notes to be refunded, or an issue
of said bonds may be made in an amount sufficient to
provide for the refunding or re-purchase of several series
of bonds or notes initially issued to the National Capital
Park and Planning Commission, provided, however, that
in no event shall bonds or notes initially issued to the
National Capital Park and Planning Commission on ac-
count of lands purchased in Prince George's County and
bonds and notes initially issued to said Commission on
account of lands purchased in Montgomery County be
refunded or re-purchased through the flotation of a single
issue of bonds authorized in the next preceding paragraph
hereof.

Said bonds so authorized hereby may be identified as
refunding bonds or may be designated in any other appro-
priate fashion, and The Maryland-National Capital Park
and Planning Commission shall have full and complete
power and authority to determine the terms and conditions
of said bonds and the manner, method and place of the
sale thereof, subject only to the condition that in no event
shall the maximum par amount of said bonds outstanding
at any one time, together with all bonds or notes initially
issued to the National Capital Park and Planning Commis-
sion and still held by said Commission, exceed [$1, 200, -
000. 00] $2, 000, 000. 00 par amount with respect to bonds
or notes issued against lands purchased in Montgomery
County [of $800, 000. 00] or $1, 250, 000. 00 par amount with
respect to bonds or notes issued against lands purchased
in Prince George's County, nor shall any issue of said
bonds mature later than sixty (60) years from the earliest
of the respective dates of issue of the corresponding series
of bonds or notes initially issued to the National Capital
Park and Planning Commission in substitution for which
any such issue of the bonds hereby authorized, are issued.

In pursuance of the foregoing, the Maryland-National
Capital Park and Planning Commission is hereby granted