THEODORE R. MCKELDIN, GOVERNOR 671

terest represented by coupons, and issued in such denomina-
tion or denominations as shall be determined by the Com-
mission, 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
bonds of said District or of said Commission, including
those heretofore issued, shall be forever exempt from taxa-
tion by the State of Maryland and by the counties and
municipalities in said State. Any bonds hereafter issued
by the Washington Suburban Sanitary Commission in its
name or in the name of the Washington Suburban Sanitary
District may be made redeemable before maturity at the
option of the Commission, at such price or prices and under
such terms and conditions as may be fixed by the Com-
mission prior to the issuance of such bonds.

(b) They shall be issued under the hand and seal of said
Commission and shall be guaranteed as to payment of prin-
cipal and interest by the County Council or the County
Commissioners of both Montgomery and Prince George'a
Counties, which guaranty 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 Sanitary Commission shall be signed by
the Chairman and the Secretary-Treasurer of the Com-
mission 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 guaranty or endorsement
by the County Council or the County Commissioners shall
be signed on each of said bonds on behalf of each County
by the Secretary or Clerk of the County Council or the
Board of County Commissioners or by any officer designated
for such purpose by the County Council or the Board of
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
guaranty, 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 assessable
basis of the whole of said District.

(c) Said Commission is hereby authorized and em-
powered to issue from time to time, in such manner as it
may determine, its negotiable notes and/or certificates of
indebtedness, the aggregate amount of which shall not at
any one time exceed Five Million Dollars ($5,000,000), in
anticipation of the issuance of bonds authorized under this
Act; provided, however, that no such notes and/or certifi-