34                                Laws of Maryland                         Ch. 13

59-56 (70-62)

(c) Required in Prince George's County. Of the [nine cent
(9¢)] tax which the County Commissioners of Prince George's
County are authorized to levy in this subheading, the said County
Commissioners [is] are required and directed to levy, in each fiscal
year [beginning after January 1, 1965] at least [seven (7¢)] eight
and one-half cents (8¹/₂¢) in fiscal year 1970, and ten cents (10¢)
thereafter, on each one hundred dollars ($100.00) of assessed value
of all property subject to assessment and taxation by the County
Commissioners within that portion of the Metropolitan District
lying within Prince George's County. The tax shall be levied and
paid over to the Commission in the manner prescribed elsewhere in
this subheading. The proceeds of the collection of said tax shall be
applied primarily to the payment of the principal and interest of
any bonds or notes heretofore or hereafter issued by the Commis-
sion for the acquisition of park lands in that portion of the Met-
ropolitan District lying within Prince George's County pursuant to
the authority of this subheading and within the limitations on
indebtedness prescribed in this subheading. However, the proceeds
of the tax shall also be paid to the Commission notwithstanding the
fact that no principal or interest payments may be due with respect
to any such bonds or notes and notwithstanding the fact that no
such bonds or notes may be issued or outstanding in any one fiscal
year. It is the intent of this subsection to provide the Commis-
sion with funds to finance the acquisition of park lands within
that portion of the Metropolitan District lying within Prince George's
County, either from current revenues or by the issue of bonds or
notes, and furthermore, to provide the Commission with funds neces-
sary for the maintenance, operation, and development of park land
so acquired.

59-50 (70-56)

(b) Limitation on issue. The total amount of such bonds out-
standing at any time shall not exceed such amount as can be re-
deemed within thirty (30) years from date of issue by means of so
much of the tax or taxes of twelve cents (12¢) in Montgomery County
and [seven cents (7¢)] eight and one-half cents (8¹/₂¢) in fiscal year
1970, and ten cents (10¢) thereafter, in Prince George's County here-
inafter authorized, as shall be pledged to the payment of such bonds,
to the extent that said taxes are or are proposed to be levied in
Montgomery County or Prince George's County, or both; except
that nothing herein shall limit the right of the Commission to issue
bonds to meet the provisions of paragraphs of subsections (a) and
(b) of Section 1 of said Public Act 284, as amended, as provided for
in this subheading. In making the calculation to determine com-
pliance with the limitation contained in this subsection, the Com-
mission may make the following assumption: (i) continued future
levy of said tax or taxes at the rate of twelve cents (12¢) in Mont-
gomery County and [seven cents (7¢)] eight and one-half cents
(8¹/₂¢) in fiscal year 1970, and ten cents (10¢) thereafter, in Prince
George's County per one hundred dollars ($100.00) of assessed value;
(ii) that there will be one hundred per centum (100%) collection
of said tax in each fiscal year and that the assessed value of property
at the time any such bonds are issued will remain constant.