Marvin Mandel, Governor                         737

Local Laws of Prince George's County (1963 Edition) being
Articles 16 and 17 respectively of the Code of Public Local Laws
of Maryland, titles "Montgomery County" and "Prince George's
County," subtitles "Maryland-National Capital Park and Planning
Commission," and "Park and Planning Commission," to authorize
the County Executive of Montgomery County to endorse the
County's guarantee on certain bonds or notes issued by the Park
and Planning Commission.

Section 1. Be it enacted by the General Assembly of Maryland,
That Sections 70-55(e) and 70-56(d) and (f) of the Montgomery
County Code 1965, as amended, and Sections 59-49(e) and 59-50(d)
and (f) of the Code of Public Local Laws of Prince George's County
(1963 Edition) being Articles 16 and 17 respectively of the Code of
Public Local Laws of Maryland, titles "Montgomery County" and
"Prince George's County," subtitles "Maryland-National Park and
Planning Commission," and "Park and Planning Commission," be
and hereby are re-enacted with amendments to read as follows:

70-55 (59-49).

(e) Guarantee by counties. Such of said bonds or notes as shall
be issued in connection with the acquisition of park lands in Mont-
gomery County shall be unconditionally guaranteed as to payment
of principal and interest in the manner hereinafter prescribed by
the County Council of Montgomery County, and the [president of
the council] County Executive shall endorse the guarantee on each
bond or note on behalf of the County, and the corporate seal of the
County shall be affixed to each bond or note attested by the [secre-
tary] Clerk to the County Council. Likewise, bonds or notes issued
hereunder in connection with the acquisition of park lands in Prince
George's County shall be similarly guaranteed by the County Com-
missioners of Prince George's County. The form of the guarantee
shall be: "The payment of interest when due and of the principal
on maturity is guaranteed by.............................. County, Maryland."

70-56 (59-50).

(d) Guarantee of principal and interest on bonds. (1) The
bonds shall be issued upon the full faith and credit of the Commission
and of the county or counties guaranteeing them as hereinafter pro-
vided. The principal and interest thereof shall be primarily payable
from the proceeds of the levy of tax or taxes of twelve cents (12¢)
in Montgomery County and seven cents (7¢) in Prince George's
County which each county is herein authorized and empowered to
levy upon each one hundred dollars ($100.00) of assessed valuation
of property lying within that portion 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 pay-
ment 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 guar-
anteed to the payment of principal and interest by the County Com-
missioners of Prince George's County and by Montgomery County.
The guarantee shall be endorsed on each of said bonds in the follow-
ing language: "The payment of interest when due and of the prin-
cipal on maturity is guaranteed by Montgomery and Prince George's