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Session Laws, 1953
Volume 606, Page 667   View pdf image (33K)
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THEODORE R. MCKELDIN, GOVERNOR 667

ing $6,000,000 for enlarging, increasing and augmenting
the water supply and major distribution facilities of said
District; to provide that said bonds shall be guaranteed
as to payment of principal and interest by the County
Council of Montgomery County and the County Commis-
sioners of Prince George's County; to provide for the pay-
ment of said bonds and the interest thereon; and to pro-
vide for the ratification and confirmation of any guaran-
tee made by the County Council of Montgomery County
and the County Commissioners of Prince George's County
of any water supply bonds of the Washington Suburban
Sanitary District heretofore issued.

SECTION 1. Be it enacted by the General Assembly of
Maryland,
That the Washington Suburban Sanitary Com-
mission, created by Chapter 122 of the Acts of the General
Assembly of Maryland of 1918, be and it is hereby au-
thorized and empowered to issue bonds of said Sanitary Dis-
trict in an aggregate principal amount not exceeding Six
Million Dollars ($6,000,000), which bonds shall be in ad-
dition 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 five
per centum (5%) 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 heretofore 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


 

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Session Laws, 1953
Volume 606, Page 667   View pdf image (33K)
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