J. MILLARD TAWES, Governor                         1735

519. Same.—Payments of Principal and Interest.

(a)  Benefit assessments.—For the purpose of paying the interest
and principal of the bonds issued by the Commission, as provided
in this subtitle, to pay for water supply, sewerage or storm water
drainage systems or curb and gutter, the Commission is hereby
authorized and directed to fix an annual assessment on all properties,
improved or unimproved, which are directly benefited by the installa-
tion. For water, sewer, and curb and gutter, the annual assessment
shall be made upon the front foot basis; for storm water drainage,
the annual assessment shall be made upon the square footage of the
property benefited; and the first payment shall be collected during
the year in which the construction is completed, or in which the
system is purchased or acquired except as provided in Section 521
of this subtitle.

(b)  General ad valorem taxes.—As a further method of paying
the interest and principal of the bonds issued by or the payment of
which has been assumed by the Commission, as provided in this
subtitle, to pay for all or a part of the cost of any urban service
installed, initiated or purchased by the Commission, the Commission
shall cause to be levied, against all the assessable property within
the districts or sub-districts for whose benefit said bonds were issued,
annually so long as any of said bonds are outstanding and not paid,
a tax sufficient to provide such sum as the Commission shall deem
sufficient and necessary, in conjunction with any amounts the Com-
mission may collect from benefit assessments or from any other funds
available for the purpose to meet the interest on the bonds as it
becomes due and to pay the principal of each series as the bonds
mature and said tax shall be determined, levied, collected and paid
over in the manner following, that is to say, at least sixty (60) days
before the tax levying period of each year, the County Commis-
sioners shall certify to the Commission the whole valuation of the
assessable property within each district or sub-district for whose
benefit outstanding bonds were issued and in which payment of all
or part of the principal and interest thereof is to be paid by ad
valorem taxes. The Commission shall then determine in the manner
above described the amounts which it deems necessary to be raised
from each district or sub-district for the payment of interest and
the principal of all serial bonds maturing in said year, and after
deducting all amounts in hand or in contemplation (less reserves)
applicable to payment of interest and principal on said bonds as here-
inbefore and hereinafter in the subtitle provided; it shall determine
the number of cents per One Hundred Dollars ($100.00) necessary
from each district or sub-district to raise the amount required and
shall certify the same to the Board of County Commissioners. The
said County Commissioners in their next annual levy shall levy said
tax in the amount certified for each district or sub-district on all
land and improvements and all other property assessed for county tax
purposes within each said district or sub-district, which shall be
levied, billed and collected with and have the same priority rights,
bear the same interest and penalties and in every respect be treated
the same as county taxes. The tax so levied for the ensuing year shall
be collected by the County Treasurer and placed in the Joint Sinking
Fund of the County Commissioners and the Commission as provided
in Section 512 hereof. From the money so received, together with