672 LAWS OF MARYLAND [CH. 357

cates of indebtedness shall be issued if the amount thereof
together with the aggregate amount of bonds authorized
hereunder shall exceed the limitation of indebtedness pre-
scribed in Section (a) hereof. All of said notes and/or
certificates of indebtedness shall be issued for periods of
not exceeding one (1) year and may be renewed from time
to time for periods of not exceeding one (1) year, but such
notes and/or certificates of indebtedness, including re-
newals, shall mature and be paid not more than five (5)
years from the date of the original notes and/or certifi-
cates of indebtedness. Said notes and/or certificates of
indebtedness shall bear interest at a rate not exceeding
five per centum (5%) per annum, said interest to be pay-
able at such time or times as may be determined by said
Commission. All of said notes and/or certificates of in-
debtedness issued under the provisions of this Act shall be
payable, in so far as it may be necessary, within the time
prescribed herein from the proceeds of the sale of bonds
authorized to be issued hereunder. All of said notes and/or
certificates of indebtedness issued hereunder, including in-
terest thereon, shall be forever exempt from taxation by
the State of Maryland and by the counties and municipali-
ties in said State. Said notes and/or certificates of in-
debtedness shall be issued under the hand and seal of said
Commission and shall be guaranteed as to payment of
principal and interest by the County Council or the County
Commissioners of both Montgomery and Prince George's
Counties, which guaranty shall be endorsed on each of said
notes and/or certificates of indebtedness in the following
language: "The payment of interest when due and the prin-
cipal at maturity is guaranteed by Montgomery and Prince
George's Counties, Maryland". The notes and/or certifi-
cates of the Sanitary 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 notes and/or certificates of indebted-
ness. Said guaranty or endorsement by the County Coun-
cil or the County Commissioners shall be signed on each of
said notes and/or certificates of indebtedness 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 notes and/or certificates of indebtedness are
presented by said Commission for the signing of such en-
dorsement. In the event of any liability under the above