3724

LAWS OF MARYLAND

[Ch. 892

event that] IF the proceeds of any series of [said] bonds
are to be expended only in or for the benefit of that
portion of the District that is in Montgomery County, the
[said] bonds shall be guaranteed as to the payment of
principal and interest by [the County Council of]
Montgomery County. The guarantee shall be endorsed on
each of [said] THE bonds in the following language: "The
payment of interest when due and of the principal on
maturity is guaranteed by Montgomery County, Maryland,"
[Such] THE endorsement shall be signed on each [of said
bonds] BOND by the executive head of the County Council
of Montgomery County within [twenty (20)] 20 days after
the bonds are presented by the Commission to the Council
for endorsement.

(g) Guarantee by Prince George's County only. If
the proceeds of a series of [such] bonds are to be
expended only throughout that portion of the District
within Prince George's County, the guarantee as to the
payment of principal and interest shall apply in the same
respect to Prince George's County.

(h) Expenditures of proceeds of bonds. [In the
event] IF 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] TITLE
shall be expended in that portion of each county within
the District in such proportion as the assessable basis
of [such] THAT portion of either county bears to the
assessable basis of the whole of [said] THE 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] TITLE from the [twelve] 12 cents [(12¢) ] tax
in Montgomery and [eight and one—half] 8 1/2 cents [ (8
1/20)] in fiscal year 1970, and ten cents [(10¢)]
thereafter, in Prince George's County levied by the
county benefited. The proceeds 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
recommendation of the members of the Commission from
Montgomery County. In like manner, the proceeds of the
sale of bonds issued to be expended within that portion
of the District within Prince George's County shall be
expended only upon the recommendation of the members of
the Commission from Prince George's County.

(i) Remaining proceeds of Little Falls Branch
Development Bonds. The Commission [is authorized to] MAY
utilize and expend the remaining funds received from the
sale of bonds known as Little Falls Branch Park
Development Bonds, Series CC, issued in the aggregate