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Session Laws, 1963
Volume 671, Page 1575   View pdf image (33K)
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J. MILLARD TAWES, Governor                     1575

STORM WATER OR SURFACE DRAINAGE SYSTEM NEEDS in
the portion of the Washington Suburban Sanitary District in Mont-
gomery County shall constitute a separate series, and for the payment
of the principal of and the interest on the bonds of such 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
Council of Montgomery County shall levy annually upon all of the
property assessed for county tax purposes within the portion of said
Sanitary District in Montgomery 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 purpose stated in this Section
shall be guaranteed as to both principal and interest by the County
Council of Montgomery County, and the County Council of Mont-
gomery County is hereby authorized and directed 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 Council of Montgomery County to the payment of the matur-
ing principal of and interest on said bonds and notes and, to the extent
that the taxes above provided 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 Council shall levy upon all property subject to
taxation within Montgomery County ad valorem taxes in rate and
amount sufficient to make up any such deficiency.

Sec. 3. And be it further enacted, That the bonds authorized by the
Commission to be issued hereunder at any one time for payment of
the cost of storm water or surface drainage systems AND THE COST
OF ANY ENGINEERING OR OTHER SURVEYS OF STORM
WATER OR SURFACE DRAINAGE SYSTEM NEEDS in the por-
tion of the Washington Suburban Sanitary District in Prince George's
County shall constitute a separate series and for the payment of the
principal of and the interest on the bonds of such 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 Commissioners of Prince George's County, and the
County Commissioners of Prince George's County are hereby
authorized and directed to guarantee said bonds and notes sub-
stantially in the manner and form provided for guarantee of the
construction bonds of said Sanitary District. Such guarantee shall

 

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Session Laws, 1963
Volume 671, Page 1575   View pdf image (33K)
 Jump to  
  << PREVIOUS  NEXT >>


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