700                             LAWS OF MARYLAND                      [CH. 342

whether the district can stand the cost of the same; and the decision
of the County Commissioners shall be final.

(b) The foregoing provisions of this Section 160 shall have no
further applicability to the proposed sewer system (including
necessary modifications and changes) for the Mattapany Sanitary
District shown on the plats of said sanitary district recorded among
the land records of St. Mary's County in liber M. R. F. 1, folios
2 to 5, inclusive, in a plat book indexed "St. Mary's County Metro-
politan Commission," such proposed sewer system having been ap-
proved by the Commission and by the County Commissioners of
St. Mary's County. The Commission, without further public hear-
ing, may, in its discretion, proceed with the financing and con-
struction of such sewer system.

161.

For the purpose of providing funds for the design, construction,
establishment, purchase or condemnation of water supply, sewerage
and drainage systems in any of the sanitary districts, said Com-
mission, upon the approval of the County Commissioners of St.
Mary's County, is authorized and empowered to issue bonds, from
time to time upon the full faith and credit of St. Mary's County,
in such amounts as it may deem to be necessary to carry on its
work, but at no time shall the total issue of bonds in any sanitary
district for all purposes under this subtitle exceed twenty-five per
centum of the total value of the property assessed for county
taxation purposes within said sanitary district. Subject to the con-
ditions contained herein the form, tenor, manner of selling, and all
other matters relating to the issuance of bonds under this subtitle
shall be prescribed in a resolution to be adopted by the St. Mary's
County Metropolitan Commission prior to sale of the bonds. The
issuance of such bonds shall not be subject to any limitations or
conditions contained in any other law and the Commission may sell
such bonds in such manner, either at public or private sale, and
for such price, as it may determine to be for the best interests of the
Commission and the County Commissioners of St. Mary's County
but no such sale shall be made at a price so low as to require the
payment of interest on the money received therefor at more than
six per centum per annum, computed with relation to the absolute
maturity of the bonds in accordance with standard tables of bond
values, excluding, however, from such computation the amount of
any premium to be paid on the redemption of any bonds prior to
maturity. Said bonds shall be serial bonds issued upon the serial
maturing plan and in such denominations as shall be determined by
the Commission, said bonds may be redeemable before maturity at
the option of the Commission at such price and under such terms
and conditions as may be fixed by the Commission prior to the
issuance of said bonds, shall bear interest at a rate not exceeding
[four] six per centum per annum, payable semi-annually, and shall
mature in not more than thirty years after date of issue and shall
be forever exempt from State, city and county taxation. They shall
be issued under the signature and seal of the Commission and shall
be unconditionally guaranteed as to payment of both principal and
interest by the County Commissioners of St. Mary's County, a
political subdivision of the State of Maryland, which guarantee shall
be endorsed on each of said bonds in the following language: "The
payment of interest when due and the principal at maturity is