Marvin Mandel, Governor                          35

(d) Guarantee of principal and interest on bonds. (1) The
bonds shall be issued upon the full faith and credit of the Commis-
sion and of the county or counties guaranteeing them as hereinafter
provided. The principal and interest thereof shall be primarily pay-
able from the proceeds of the levy of 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¢) there-
after, in Prince George's County, which each county is herein au-
thorized and empowered to levy upon each one hundred dollars
($100.00) of assessed valuation of property lying within that por-
tion of the District in each county, respectively. (2) Any such
bonds shall be issued under the hand and seal of the Commission and
shall be guaranteed as to the payment of principal and interest in
the following manner: in the event that the Commission resolves
to expend the proceeds of any series of such bonds throughout the
District, the said bonds shall be guaranteed to the payment of
principal and interest by the County Commissioners of Prince
George's County and by Montgomery County, The guarantee shall be
endorsed on each of said bonds in the following language: "The
payment of interest when due and of the principal on maturity is
guaranteed by Montgomery and Prince George's Counties, Mary-
land." Such endorsement shall be signed on each of the bonds by the
President and Secretary or the clerk or other executive head of the
County Commissioners or the County Council, as the case may be,
within twenty (20) days after the bonds are presented by the Com-
mission to them for endorsement.

(h) Expenditures of proceeds of bonds. In the event the said
proceeds of a series of such bonds are to be expended throughout
the District, the proceeds of the sale of bonds issued under this
subheading shall be expended in that portion of each County within
the District in such proportion as the assessable basis of such por-
tion of either county bears to the assessable basis of the whole
of said District. However, the Commission may issue such bonds for
carrying out its corporate purposes in that portion of the District
within either county, the principal and interest to be guaranteed
by and payable as provided in this subheading from the 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 levied by the county benefited. The pro-
ceeds of the sale of bonds issued under this section to be expended
within or for the benefit of that portion of the District within
Montgomery County shall be expended only upon the recommenda-
tion of the members of the Commission from Montgomery County. In
like manner, the proceeds of the sale of bonds issued to be ex-
pended within that portion of the District within Prince George's
County shall be expended only upon the recommendation of the mem-
bers of the Commission from Prince George's County.

Sec. 2. And be it further enacted, That this Act is hereby
declared to be an emergency law and necessary for the immediate
preservation of the public health and safety, and being passed by
a yea and nay vote, supported by three-fifths of all the members
of the two houses of the General Assembly, the same shall take
effect from the date of its passage.

Approved by the Governor, December 18, 1969.