Theodore R. McKeldin, Governor                   1421

In the case of instruments conveying title to property, the tax shall
be at the rate of $1.10 for each $500 or fractional part thereof of the
actual consideration paid or to be paid; in the case of instruments
securing a debt, the tax shall be at the rate of $1.10 for each $500 of
the principal amount of the debt secured.

Sec. 3. And be it further enacted, That this Act shall take effect
June 1, 1957.

Approved April 15, 1957.

CHAPTER 779
(House Bill 518)

AN ACT to authorize the issuance of bonds of the Washington Subur-
ban Sanitary District in a sum not exceeding $2,000,000, for con-
structing storm water or surface drainage systems in the Wash-
ington Suburban Sanitary District, to provide for the payment of
such bonds and the interest thereon by the levy of an ad valorem
tax.

Section 1. Be it enacted by the General Assembly of Maryland,
That for the purpose of carrying out the provisions of Chapter 526
of the Acts of the General Assembly of Maryland of 1943, as amended
by Chapter 917 of the Acts of the General Assembly of 1945, and
Chapter 732 of the Acts of 1947, the Washington Suburban Sanitary
Commission is empowered from time to time to issue under its hand
and seal bonds of the Washington Suburban Sanitary District in an
amount not to exceed Two Million Dollars ($2,000,000) in such de-
nominations and for such terms, not exceeding forty years (not-
withstanding any general or local law designating a shorter period),
and at such rate, not exceeding five per cent (5%) per annum, as it
may determine; which bonds shall be in addition to any bonds au-
thorized under the provisions of any Act of the General Assembly of
Maryland authorizing the issuance of bonds by the Commission for
storm drainage construction. That for the purpose of paying the
principal of said bonds as they mature and the interest thereon, the
County Commissioners of Prince George's County and the County
Council of Montgomery County are directed to levy annually upon
all of the property assessed for county tax purposes within the said
Sanitary District, upon the certification of the Washington Suburban
Sanitary Commission and AN ad valorem tax at a rate necessary to
produce annually the sum required to pay the principal and interest
for the current year on said bonds outstanding and 60% of which sum
shall be levied and collected by Montgomery County and 40% by
Prince George's County which tax shall be levied and collected as
other Commission ad valorem taxes are levied and collected and paid
to said Commission. In the event the first or second maturing interest
payment on said bonds becomes due before the levy and collection

Explanation: Italics indicate new matter added to existing law.

[Brackets] indicate matter stricken from existing law.
CAPITALS indicate amendments to bill.
Strike out indicates matter stricken out of bill.