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Session Laws, 1955
Volume 620, Page 619   View pdf image (33K)
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THEODORE R. McKELDIN, GOVERNOR                   619

said Sanitary District in an aggregate principal amount not exceed-
ing Three Million Dollars ($3,000,000), which bonds shall be in
addition 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, limita-
tions 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 limita-
tion 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.

SEC. 2. And be it further enacted, That the proceeds of said bonds
shall be used for the purpose of enlarging, increasing and augmenting
the water supply of the area served by said Commission, including
the construction or enlargement of any impounding reservoir, filter
plant, filtered water storage structure, or pumping station, and all the
necessary pipe lines and accessories appurtenant thereto, and the
construction of major supply lines and reinforcing mains.

SEC. 3. And be it further enacted. That for the purpose of retiring
bonds authorized to be issued by this Act and payment of the interest
thereon, there shall be levied against all of the assessable property
within the Sanitary District, by the County Council and by the
County Commissioners of Montgomery and Prince George's Counties,
annually so long as said bonds are outstanding and not paid, a tax
sufficient to meet the interest on said bonds, and to pay the principal
thereof as the said principal and interest mature or become due;
said tax shall be determined, levied, collected and paid over to said
Commission in the manner provided by Section 6 of said Chapter 122
or any amendment thereof, and all of the provisions of said Section
6 shall apply to the bonds issued hereunder.

SEC. 4. And be it further enacted, That said Commission shall
annually determine the amount necessary to meet the principal and
interest requirements of said bonds, and shall annually fix the water
service charge of said District at such a sum as to produce, in addition
to the costs of said service, and the requirements of any other bonds
issued and outstanding, the annual requirements of which are to be
paid out of said water service, the amount determined as necessary
to pay the annual requirements of the bonds hereby authorized. The
sum so collected annually from water service charges shall be de-
ducted from the amount which the Commission has determined to be
necessary to be raised by direct taxation upon certification to the
County Council and to the County Commissioners of said counties.

SEC. 5. And be it further enacted, That if any word, phrase,
clause, sentence or any part or parts of this Act shall be held un-

 

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Session Laws, 1955
Volume 620, Page 619   View pdf image (33K)
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