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Session Laws, 1961
Volume 654, Page 1639   View pdf image (33K)
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J. MILLARD TAWES, GOVERNOR                          1639

by the County Council of Montgomery County and the County
Commissioners of Prince George's County; to provide for the
payment of said bonds and the interest thereon; and to provide
for the ratification and confirmation of any guarantee made by
the County Council of Montgomery County and the County Com-
missioners of Prince George's County of any water supply bonds
of the Washington Suburban Sanitary District heretofore issued.

Section 1. Be it enacted by the General Assembly of Maryland,
That the Washington Suburban Sanitary Commission, created by
Chapter 122, of the Acts of the General Assembly of Maryland of
1918, be and it is hereby authorized and empowered to issue bonds
of said Sanitary District in an aggregate principal amount not ex-
ceeding Five Million Dollars ($5,000,000), which bonds shall be in
addition to any bonds authorized to be issued under said Chapter
122, or any amendments thereof, or under any other Act of the
General Assembly of Maryland, and shall be registered or coupon
bonds, in such denomination or denominations as shall be determined
by said Commission, and shall bear interest at a rate or rates not
exceeding five per centum (5%) per annum, payable semi-annually,
and shall be retired serially, the last bond to be retired not later
than forty (40) years from the date of issue. Said Commission may
offer for sale and issue such bonds, from time to time, as its necessity
requires. Said bonds shall be executed and issued under the same
provisions, limitations and restrictions, applicable to the bonds
issued by said Commission under the provisions of said Chapter 122,
as amended, except that the said bonds shall not be subject to the
limitation in said Chapter 122, as amended, on the amount of bonds
that may be issued and shall not be included in computing the
amount of bonds that may be issued under said Chapter 122, as
amended, and said bonds shall be forever exempt from taxation by
the State of Maryland and by the counties and municipalities in said
State. The said bonds shall be guaranteed, as to the payment of
principal and interest, by the County Council and by the County
Commissioners, of both Montgomery and Prince George's Counties,
which guarantee shall be in the form and under the provisions of
Section 5 of said Chapter 122, or any amendment thereof or any
section enacted in lieu thereof. The Commission may, however, at
its option, waive the guarantee of the counties herein prescribed.

Sec. 2. And be it further enacted, That the proceeds of said bonds
shall be used for the purpose of enlarging, increasing and augment-
ing the water supply of the area served by said Commission, in-
cluding the construction or enlargement of any impounding reser-
voir, filter plant, filtered water storage structure, or pumping
station, and all the necessary pipe lines and accessories appurtenant
thereto, and the construction of major supply lines and reinforcing
mains.

Sec. 3. And be it further enacted, That for the purpose of retiring
bonds authorized to be issued by this Act, and payment of the in-
terest thereon, there shall be levied against all of the assessable
property within the Sanitary District, by the County Council and
by the County Commissioners of Montgomery and Prince George's
Counties, annually, so long as said bonds are outstanding and not
paid, a tax sufficient to meet the interest on said bonds, and to pay

 

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Session Laws, 1961
Volume 654, Page 1639   View pdf image (33K)
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