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2318 LAWS OF MARYLAND Ch. 847
[may deem] CONSIDERS necessary, but the aggregate amount
of bonds [hereafter] issued under this Section shall be
included in and subject to the [fourteen per centum
(14%) ] 14 PERCENT limitation as provided in Section 5 of
Chapter 122 of the Acts of the General Assembly of 1918,
as amended (SECTION 4-1 (A) AND (B) OF THIS CODE). Bonds
[hereafter] issued under the authority of this Section
shall be serial bonds with the principal of any given
issue payable annually, commencing not more than three
years from the date of the bonds. The bonds may be
either registered or coupon bonds, or registerable as to
principal with interest represented by coupons, and
issued in [such] A denomination or denominations as shall
be determined by the Commission, [shall bear] WITH
interest [not to exceed five per centum (5%) per annum]
AT SUCH RATE OR RATES PER ANNUM AS PROVIDED IN SECTION
4-4 OF THIS CODE payable semi-annually and [shall
mature] WITH A MATURITY DATE not exceeding [forty] 40
years from the date of issue[, and all]. ALL [said] bonds
of [said] THE Commission ISSUED PURSUANT TO THE AUTHORITY
OF THIS SECTION [shall be forever] ARE exempt from
taxation by the State of Maryland and by the counties
and municipalities in [said] THE State.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1976.
Approved May 17, 1976.
CHAPTER 848
(House Bill 1998)
AN ACT concerning
Washington Suburban Sanitary District
(Budget Supplements)
MC 35A-76 PG -76
FOR the purpose of providing a method and time schedule
to allow the Washington Suburban Sanitary Commission
to amend a certain budget submitted to the local
county governing bodies; providing a method for
submitting supplemental appropriations requests to
the Commission budget under certain circumstances;
clarifying language; renumbering as appropriate;
relating generally to budget matters concerning the
Commission; and repealing a certain prior enactment
because of lack of clarity in the title.
BY repealing
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