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Session Laws, 1957
Volume 640, Page 976   View pdf image (33K)
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976                               Laws of Maryland                        [Ch. 587

ing the principal of said bonds as they mature and the interest
thereon, the County Commissioners of Prince George's County are
directed to levy annually upon all of the property assessed for county
tax purposes within the portion of said Sanitary District in Prince
George's County, upon the certification of the Washington Suburban
Sanitary Commission, an ad valorem tax at a rate necessary to pro-
duce annually the sum required to pay the principal and interest for
the current year on said bonds or any part thereof outstanding,
which tax shall be levied and collected as other Commission ad valorem
taxes are levied and collected and paid to said Commission.

(3) The Maryland-National Capital Park and Planning Commission
is authorized and directed to issue its bonds in an amount not exceed-
ing [$800,000] $1,000,000 in such denominations and for such terms,
not exceeding forty years, and at such rate, not exceeding five
[FOUR] FIVE per cent (5%) [4%] 5%, as it may determine, such
bonds shall be issued on the full faith and credit of the Maryland-Na-
tional Capital Park and Planning Commission and guaranteed as to
both principal and interest by the County Commissioners of Prince
George's County only; the County Commissioners of Prince George's
County are hereby directed to guarantee said bonds in substantially
the manner and form of the guarantee of the construction bonds of the
Washington Suburban Sanitary Commission. Such guarantee shall
operate as a pledge of the full faith and credit of the County Commis-
sioners of Prince George's County to the payment of the maturing
principal and interest of said bonds and, to the extent that the taxes
hereinafter in this sub-section provided for are inadequate to provide
the funds necessary to pay such principal and interest in any year, said
County Commissioners shall levy upon all property subject to taxation
within its corporate limits ad valorem taxes in rate and amount suffi-
cient to make up any such deficiency. 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 are directed to levy
annually upon all of the property assessed for county tax purposes
within the portion of the Maryland-Washington Metropolitan District
in Prince George's County, upon the certification of the Maryland-
National Capital Park and Planning Commission, 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 or any
part thereof outstanding, which tax shall be levied and collected as
other Commission ad valorem taxes are levied and collected and paid
to said Commission.

Sec. 2. And be it further enacted, That this Act shall take effect
June 1, 1957.

Approved April 10, 1957.

CHAPTER 587
(House Bill 438)

AN ACT to repeal and re-enact, with amendments, Section 411 of
Article 27 of the Annotated Code of Maryland (1951 Edition), title

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.

 

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Session Laws, 1957
Volume 640, Page 976   View pdf image (33K)
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