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Session Laws, 1961
Volume 654, Page 1638   View pdf image (33K)
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1638                             Laws of Maryland                       [Ch. 891

series and the interest on any notes issued under the provisions of
Section 1 above in anticipation of the issuance of any bonds of
such series the County Commissioners of Prince George's County
shall 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
produce annually the sum required to pay such principal and interest
for the current year, which tax shall be levied and collected as
other Commission ad valorem taxes are levied and collected and
paid to said Commission. Said bonds and any notes issued in
anticipation thereof for the purposes stated in this Section shall be
guaranteed as to both principal and interest by the County Com-
missioners of Prince George's County, and the County Commis-
sioners of Prince George's County are hereby authorized and di-
rected to guarantee said bonds and notes substantially in the manner
and form provided for guarantee of the construction bonds of said
Sanitary District. Such guarantee shall operate as a pledge of the
full faith and credit of the County Commissioners of Prince George's
County to the payment of the maturing principal of and interest on
said bonds and notes and, to the extent that the taxes above pro-
vided for in this Section and any other moneys available or to become
available therefor (either through the issuance of bonds or notes
authorized hereunder or otherwise) 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 Prince George's County ad valorem taxes in rate
and amount sufficient to make up any such deficiency.

Sec. 4. And be it further enacted, That in the event the first or
second maturing interest payment on any of said bonds or notes
becomes due before the levy and collection of the taxes herein au-
thorized, the Commission may advance the interest due at said
first or second interest paying period out of the proceeds of the
sale of said bonds or notes.

Sec. 5. And be it further enacted, That this Act shall take effect
June 1, 1961.

Approved May 8, 1961.

CHAPTER 891
(House Bill 294)

AN ACT to authorize the issuance of bonds of the Washington Sub-
urban Sanitary District in an amount not exceeding $5,000,000
for enlarging, increasing and augmenting the water supply and
major distribution facilities of said District; to provide that said
bonds shall be guaranteed as to payment of principal and interest

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, 1961
Volume 654, Page 1638   View pdf image (33K)
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