MARVIN MANDEL, Governor                           2579

available or to become available therefor (either through
the issuance of bonds or notes authorized hereunder or
otherwise) are inadequate to provide the funds necessary
to pay such principal and interest in any year, said
County Council shall levy upon all property subject to
taxation with Prince George's County ad valorem taxes in
rate and amount sufficient to make up any such
deficiency.

(c) The Commission is authorized and empowered to
issue its negotiable notes from time to time in
anticipation of the issuance of bonds authorized under
this Section. Such notes may be issued for periods not
exceeding five years and may be renewed from time to time
for periods not exceeding one year, but such notes,
including renewals, shall mature and be paid not more
than five years from the date of the note or notes first
issued. Such notes shall bear interest at a rate or
rates not exceeding eight per centum (8%) per annum, the
interest to be payable at such time or times on or before
the maturity of the notes as the Commission shall
determine. Such notes shall be in such form and shall be
executed in such manner as the Commission shall provide.
Such notes shall be payable from the proceeds of the
bonds in anticipation of which they shall be issued;
provided, however, that the Commission may, in its
discretion, in lieu of retiring such notes by means of
bonds, retire such notes from any funds available for the
payment of bonds authorized hereunder for the project or
projects for which such notes were issued, in which event
the maximum amount of bonds which may be issued under the
provisions of this Section shall be reduced by the amount
of such notes so retired.

SECTION 2. AND BE IT FURTHER ENACTED, That in the
event the first or second maturing interest payment on
any of said bonds or notes becomes due before the levy
and collection of the taxes herein authorized, the
Commission may advance the interest due at said first or
second interest paying period out of the proceeds of the
sale of said bonds or notes.

SECTION 3. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1975.

Approved April 22, 1975,

CHAPTER 532