2578

LAWS OF MARYLAND

[Ch. 531

bear interest at such rate or rates not exceeding eight
per centum (8%) per annum, shall mature at such time or
times not exceeding forty years from their date or dates,
as may be determined by the Commission, and may be made
redeemable before maturity, at the option of the
Commission, at such price or prices and under such terms
and conditions as may be fixed by the Commission prior to
the issuance of the bonds. Such bonds may be issued in
coupon or in registered form, or both, as the Commission
may determine, and provision may be made for the
registration of any coupon bonds as to principal alone.
The Commission shall fix the denomination of
denominations of the bonds and the form and manner of
execution of the bonds and of any interest coupons to be
attached thereto.

(b) The bonds authorized by the Commission to be
issued hereunder at any one time for payment of the cost
of storm water, surface drainage or flood control
projects or systems or rehabilitation, restoration and
capital improvements of the marina and boat basin
facilities, including the cost of any engineering or
other surveys in connection therewith, in that portion of
the Washington Suburban Sanitary District situated . in
Prince George's County, shall constitute a separate
series from any other bonds of the District, and the
proceeds therefrom shall be used for the aforesaid
purposes in that portion of the District. For the
payment of the principal of and the interest on the bonds
of such series, and for the payment of the interest on
any notes issued under the provisions of subsection (c),
below, in anticipation of the issuance of any bonds of
such series, the County Council of Prince George's County
shall levy annually upon all of the property assessed for
county tax purposes within such portion of said Sanitary
District in Prince George's County, upon the
certification of the Washington Suburban Sanitary
Commission, an ad valorem tax at a rate necessary to
produce annually the sum required to pay such principal
and interest for the current year, which tax shall be
levied and collected as other Commission ad valorem taxes
are levied and collected and paid to the Commission. The
bonds and any notes issued in anticipation thereof for
the purposes stated in this Section shall be guaranteed
as to both principal and interest by Prince George's
County, and the County Council of Prince George's County
is hereby authorized and directed to guarantee said bonds
and notes substantially in the manner and form provided
for guarantee of the construction bonds of said Sanitary
District. Such guarantee shall operate as a pledge of
the full faith and credit of Prince George's County to
the payment of the maturing principal of and interest on
said bonds and notes and, to the extent that the taxes
above provided for in this Section and any other moneys