1232                              Laws of Maryland                        [Ch. 780

the power to agree to take over, operate, and maintain such works
when constructed.

(b) Other uses of lands acquired for flood control.—The Com-
mission has the right to use for park purposes the lands acquired
for flood control and navigation projects as provided in Section 1610
(f) of the 1953 Edition of the Code of Public Local Laws of Prince
George's County, as that Section may be amended or re-numbered
from time to time.

Bonds and Borrowing Power

44. Bonds Issued Under Capper-Cramton Act.

(a)  Authorized.—For the purpose of securing any of the ad-
vances authorized by and generally for the purpose of enabling the
Commission to comply with Paragraphs (a) and (b) of Section 1 of
said Public Act 284, as amended, the Commission in its discretion
may enter into any contract or commitment with the United States
or any bureau or agency thereof or the National Capital Planning
Commission. In addition, at its discretion, the Commission may
issue serial maturity bonds or term notes and deliver them to the
National Capital Planning Commission or other like agency of the
United States, in full or partial payment of such commitments or
obligations, as the Commission may make, assume or incur in com-
plying with the provisions of said Public Act 284.

(b)  Issue.—The bonds or notes are to be issued and delivered
upon such terms and conditions, not contrary to this sub-title, as
the Commission may agree to with the National Capital Planning
Commission. As an alternative, the Commission in its discretion
may sell said bonds or notes at public sale or by private negotiation
at not less than the par value thereof and may use the proceeds
thereof to meet the obligations or commitments above referred to.

(c)  Interest rate; form.—Such bonds or notes, if and when issued
under either alternative, may be of such denomination, may bear
such rate of interest (not exceeding five per centum (5%) per an-
num) payable at such times or places, and may be of such form or
tenor as the Commission in its discretion shall determine.

(d)  Maturity.—The bonds hereby authorized shall all be issued
to mature in varying or equal annual serial installments, begin-
ning not later than ten years from date of issue, but none of the
bonds shall mature more than sixty (60) years from its date of
issue. The notes hereby authorized shall be issued to mature at
one time as to each issue, not later than ten years from their re-
spective date or dates of issue, and they shall not be subject to re-
newal or extension.

(e)   Guarantee by counties.—Such of said bonds or notes as shall
be issued in connection with the acquisition of park lands in Mont-
gomery County shall be unconditionally guaranteed as to payment
of principal and interest in the manner hereinafter prescribed by
the County Council of Montgomery County, and the President of
the Council shall endorse the guarantee on each bond or note on
behalf of the County, and the corporate seal of the County shall be
affixed to each bond or note attested by the Secretary to the County