BLAIR LEE III, Acting Governor                         1503

(Bond Issue - Water)
PG/MC 10-78

FOR the purpose of authorizing the issuance of bonds for the
Washington Suburban Sanitary District in an amount not
exceeding $100,000,000 for enlarging, increasing and
augmenting the water supply and major distribution
facilities of said District; to provide that said bonds
shall be guaranteed as to payment of principal and
interest by the County Council of Montgomery County and
the County Council of Prince George's County, with a
provision for waiver of such guarantee at the option of
the Commission; to provide for the payment of said
bonds and the interest thereon by levy of taxes against
assessable property within the Sanitary District; to
provide for the collection of water service charges;
and to provide for the ratification and confirmation of
any guarantee made by the County Council of Montgomery
County and the County Council of Prince George's County
of any water supply bonds of the Washington Suburban
Sanitary District heretofore issued.

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Washington Suburban Sanitary Commission,
created by Chapter 122, of the Acts of the General Assembly
of Maryland of 1918, be and it is hereby authorized and
empowered to issue bonds of the Washington Suburban Sanitary
District in an aggregate principal amount not exceeding one
hundred million dollars ($100,000,000), which bonds shall be
in addition to any bonds authorized to be issued under said
Chapter 122, or any amendments thereof, or under any other
Act of the General Assembly of Maryland, and shall be
registered or coupon bonds, in such denomination or
denominations as shall be determined by the Commission, and
shall bear interest at a rate or rates not exceeding eight
percent per year, payable semiannually, and shall be retired
serially, the last bond to be retired not later than forty
(40) years from the date of issue. The Commission may offer
for sale and issue such bonds, from time to time, as its
necessity requires. The bonds shall be executed and issued
under the same provisions, limitations and restrictions
applicable to the bonds issued by the Commission under the
provisions of Chapter 122, as amended, except that the bonds
shall not be subject to the limitation in Chapter 122, as
amended, on the amount of bonds that may be issued and shall
not be included in computing the amount of bonds that may be
issued under said Chapter 122, as amended. The bonds shall
be forever exempt from taxation by the State of Maryland and
by the counties and municipalities in said State. The bonds
shall be guaranteed, as to the payment of principal and
interest, by the County Council for Montgomery County and
the County Council for Prince George's County or such
governing body for each County, respectively, as may be
provided by law or instrument of charter, if adopted, which
guarantee shall be in the form and under the provisions of
Section 5 of said Chapter 122, or any amendment thereof or
any Section enacted in lieu thereof. The Commission may,
however, at its option, waive the guarantee of the Counties