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Session Laws, 1968
Volume 683, Page 1263   View pdf image
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SPIRO T. AGNEW, Governor                      1263

any guarantee made by the County Council of Montgomery County
and the County Commissioners of Prince George's County of any
water supply bonds of the Washington Suburban Sanitary Dis-
trict 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
exceeding Twenty-Five Million Dollars ($25,000,000), 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 ex-
ceeding five per centum (5%) SIX PER CENTUM (6%) 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, ap-
plicable 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, includ-
ing the construction or enlargement of any impounding reservoir,
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 re-
tiring bonds authorized to be issued by this Act, and payment of
the interest thereon, there shall be levied against all of the assess-
able 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 the principal thereof as the said principal and interest
mature or become due; said tax shall be determined, levied, collected
and paid over to said Commission in the manner provided by Section

 

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Session Laws, 1968
Volume 683, Page 1263   View pdf image
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