SPIRO T. AGNEW, Governor                      343

costs of the design and construction of trunk sewers, sewage pumping
stations and sewage disposal facilities and major water supply lines
and reinforcing mains and other sanitary sewer and water supply
facilities of the Washington Suburban Sanitary District which the
Commission shall determine to have been or will be incurred on ac-
count of the construction or planned construction of such storm water
or surface drainage systems., SURFACE DRAINAGE OR FLOOD
CONTROL PROJECTS OR SYSTEMS. Said bonds shall be dated,
shall bear interest at such rate or rates not exceeding five per centum
(5%) per annum, shall mature at such time or times not exceeding
forty years from their date or dates, as may be determined by the
Commission, and may be made redeemable before maturity, at the
option of the Commission, at such price or prices and under such
terms and conditions as may be fixed by the Commission prior to the
issuance of the bonds. Such bonds may be issued in coupon or in
registered form, or both, as the Commission may determine, and pro-
vision may be made for the registration of any coupon bonds as to
principal alone. The Commission shall fix the denomination or de-
nominations of the bonds and the form and manner of execution of
the bonds and of any interest coupons to be attached thereto.

(b) Said Commission is authorized and empowered to issue its
negotiable notes from time to time in anticipation of the issuance
of bonds authorized under this Section. Such notes may be issued
for periods not exceeding one year and may be renewed from time
to time for periods not exceeding one year, but such notes, including
renewals, shall mature and be paid not more than five years from
the date of the note or notes, first issued. Such notes shall bear
interest at a rate or rates not exceeding five per centum (5%) per
annum, the interest to be payable at such time or times on or before
the maturity of the notes as the Commission shall determine. Such
notes shall be in such form and shall be executed in such manner
as the Commission shall provide. Such notes shall be payable from
the proceeds of the bonds in anticipation of which they shall be
issued; provided, however, that the Commission may, in its discre-
tion, in lieu of retiring such notes by means of bonds, retire such
notes from any funds available for the payment of bonds authorized
hereunder for the project or projects for which such notes were
issued, in which event the maximum amount of bonds which may
be issued under the provisions of this Section shall be reduced by
the amount of such notes so retired.

Sec. 2. 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
or flood control projects, and, SURFACE DRAINAGE OR FLOOD
CONTROL PROJECTS OR SYSTEMS INCLUDING the cost of any
engineering or other surveys in connection therewith, in the portion
of the Washington Suburban Sanitary District in Montgomery County
shall constitute a separate series. For the payment of the principal
of and the interest on the bonds of such series, and for
the payment of 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 Commis-