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Session Laws, 1980
Volume 739, Page 2779   View pdf image
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HARRY HUGHES, Governor

2779

remedy by the measures set forth herein shall be deemed to
be and it is hereby included within the cost of storm water,
surface drainage, or flood control projects or systems. The
cost of such storm water, surface drainage, or flood control
projects or systems shall be deemed to include, in addition
to all other items of cost, any portion of the costs of the
design and construction of trunk sewers, sewage pumping
stations, and sewage disposal facilities and major water
supply lines and reinforcing mains and other sanitary sewer
and water supply facilities of the Washington Suburban
Sanitary District which the Commission shall determine to
have been or will be incurred on account of the construction
or planned construction of such storm water, surface
drainage, or flood control projects or systems. Said bonds
shall be dated, shall bear interest at such rate or rates
not exceeding eight per centum (8%) per annum, shall mature
at such time or times not exceeding forty years from their
date or dates, as may be determined by the Commission, and
may be made redeemable before maturity, at the option of the
Commission, at such price or prices and under such terms and
conditions as may be fixed by the Commission prior to the
issuance of the bonds. Such bonds may be issued in coupon
form, or in registered form, or both, as the Commission may
determine, and provision may be made for the registration of
any coupon bonds as to principal alone. The Commission
shall fix the denomination or denominations of the bonds and
the form and manner of execution of the bonds and of any
interest coupons to be attached thereto.

(b) The bonds authorized by the Commission to be
issued hereunder at any one time for payment of the cost of
storm water, surface drainage, or flood control projects or
systems, including the cost of any engineering or other
surveys in connection therewith, in that portion of the
Washington Suburban Sanitary District situated in Prince
George's County, shall constitute a separate series from any
other bonds of the District, and the proceeds therefrom
shall be used for the aforesaid purposes in that portion of
the District. For the payment of the principal of and the
interest on the bonds of such series, and for the payment
of the interest on any notes issued under the provisions of
subsection (c), below, in anticipation of the issuance of
any bonds of such series, the County Council of Prince
George's County shall levy annually upon all of the property
assessed for county tax purposes within such portion of said
Sanitary District in Prince George's County, upon the
certification of the Washington Suburban Sanitary
Commission, an ad valorem tax at a rate necessary to produce
annually the sum required to pay such principal and interest
for the current year, which tax shall be levied and
collected as other Commission ad valorem taxes are levied
and collected and paid to the Commission. The bonds and any
notes issued in anticipation thereof for the purposes stated
in this Section shall be guaranteed as to both principal and
interest by Prince George's County, and the County Council
of Prince George's County is hereby authorized and directed
to guarantee said bonds and notes substantially in the

 

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Session Laws, 1980
Volume 739, Page 2779   View pdf image
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