J. MILLARD TAWES, GOVERNOR                           1565

whole or in part at the option of the Commission, at redemption prices
which may be in excess of the par value of such bonds.

(d)  Guarantee of principal and interest on bonds.—(1) The bonds
shall be issued upon the full faith and credit of the Commission and
of the county or counties guaranteeing them as hereinafter provided.
The principal and interest thereof shall be primarily payable from
the proceeds of the levy of tax or taxes of seven cents (7¢) which
each county is herein authorized and empowered to levy upon each
one hundred dollars ($100.00) of assessed valuation of property
lying within that portion of the District in each county, respectively.
(2) Any such bonds shall be issued under the hand and seal of the
Commission and shall be guaranteed as to the payment of principal
and interest in the following manner: in the event that the Commis-
sion resolves to expend the proceeds of any series of such bonds
throughout the District, the said bonds shall be guaranteed to the
payment of principal and interest by the County Commissioners of
Prince George's County and by Montgomery County. The guarantee
shall be endorsed on each of said bonds in the following language:
"The payment of interest when due and of the principal on ma-
turity is guaranteed by Montgomery and Prince George's Counties,
Maryland." Such endorsement shall be signed on each of the bonds
by the President and Secretary or the clerk or other executive head
of the County Commissioners or the County Council, as the case
may be, within twenty (20) days after the bonds are presented by
the Commission to them for endorsement.

(e)   Liability under guarantee.—In the event of any liability under
the above guarantee, the liability for each county shall be in such
proportion as the assessable basis for that part of such county within
the Metropolitan District bears to the assessable basis of the whole
of said District.

(f)   Guarantee by Montgomery County only.—In the event that
the proceeds of any series of said bonds are to be expended only
[through] in or for the benefit of that portion of the District that
is in Montgomery County, the said bonds shall be guaranteed as to
the payment of principal and interest by the County Council of
Montgomery County. The guarantee shall be endorsed on each of
said bonds in the following language: "The payment of interest when
due and of the principal on maturity is guaranteed by Montgomery
County, Maryland." Such endorsement shall be signed on each of
said bonds by the executive head of the County Council of Mont-
gomery County within twenty (20) days after the bonds are pre-
sented by the Commission to the Council for endorsement.

(g)   Guarantee by Prince George's County only.—If the proceeds
of a series of such bonds are to be expended only throughout that
portion of the District within Prince George's County, the guarantee
as to the payment of principal and interest shall apply in the same
respect to Prince George's County.

(h) Expenditures of proceeds of bonds.—In the event the said
proceeds of a series of such bonds are to be expended throughout
the District, the proceeds of the sale of bonds issued under this sub-
title shall be expended in that portion of each county within the Dis-
trict in such proportion as the assessable basis of such portion of
either county bears to the assessable basis of the whole of said Dis-