HARRY HUGHES, Governor

2639

(Bond Issue - Water)
MC/PG 25-81

FOR the purpose of authorizing the issuance of bonds for the
Washington Suburban Sanitary District in an amount not
exceeding $75,000,000 for enlarging, increasing and
augmenting the water supply and major distribution
facilities of the District; providing that the 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, or such
governing body for each county, respectively, as may be
provided by law or instrument of Charter, if adopted,
with a provision for waiver of the guarantee at the
option of the Commission; providing for the payment of
the bonds and the interest thereon by levy of taxes
against assessable property within the Sanitary
District; providing for the collection of water service
charges; and providing 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, or such governing body for each
county, respectively, as may be provided by law or
instrument of Charter, if adopted, 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
$75,000,000, which bonds shall be in addition to any bonds
authorized to be issued under 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 such rate or rates
annually as the Commission determines to be advantageous to
the District and otherwise in the public interest, payable
semiannually, and shall be retired serially, the last bond
to be retired not later than 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 may not be
subject to the limitation in Chapter 122, as amended, on the
amount of bonds that may be issued and may not be included
in computing the amount of bonds that may be issued under
Chapter 122, as amended. The bonds shall be forever exempt
from taxation by the State of Maryland and by the counties
and municipalities in the State. The bonds shall be
guaranteed, as to the payment of principal and interest, by