MARVIN MANDEL, Governor

3723

mature in not exceeding [fifty] 50 years from the date of
issue. Notwithstanding the provisions of any other law,
the Commission [is authorized, in its discretion, to] MAY
sell [said] THE bonds at public sale or, if the
Commission by resolution [shall determine] DETERMINES
that a more advantageous price may be obtained on smaller
issues, [then] by private negotiation, and [to] MAY
provide in [and such] THE issue of bonds for their
redemption prior to their stated maturity, in whole or in
part at the option of the Commission, at redemption
prices which may be in excess of the par value of [such]
THE bonds.

(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 provided. The principal
and interest thereof shall be primarily payable from the
proceeds of the levy of tax or taxes of [twelve] 12 cents
[(12¢)] in Montgomery and [eight and one—half] 8 1/2
cents [(8 1/2¢)] in fiscal 1970, and ten cents [ (10¢)]
thereafter in Prince George's County which each county
[is herein authorized and empowered to] MAY levy upon
each [one hundred dollars ($100.00) ] $100 of assessed
valuation of property lying within that portion of the
District in each county, respectively.

(2) [Any such] THE bonds shall be issued
under the hand and seal of the [commission] COMMISSION,
by manual or facsimile signature, and shall be guaranteed
as to the payment of principal and interest in the
following manner: In the event that the [commission]
COMMISSION resolves to expend the proceeds of any series
of such bonds throughout the district, the bonds shall be
guaranteed to the payment of principal and interest by
Prince George's County and by Montgomery County. The
guarantee shall be endorsed on each of the 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, Maryland." This
endorsement shall be signed by manual or facsimile
signature on each of the bonds by the county executives
of Montgomery and Prince George's Counties within 20
days after the bonds are presented by the [commission]
COMMISSION to them for endorsement.

(e)    Liability under guarantee. In the event of
any liability under the above guarantee, the liability
for each county shall be in [such] THE proportion [as]
the assessable basis for that part of [such] THE county
within the Metropolitan District bears to the assessable
basis of the whole of [said] THE District.

(f)    Guarantee by Montgomery County only. [In the