3096                                   LAWS OF MARYLAND                                 Ch. 805

them, as the commission, in its discretion, shall prescribe.
Proceeds of refunding bonds shall be so invested and applied
as to assure that the principal, interest, and redemption
premium, if any, on the bonds or notes being refunded shall
be paid in full on their respective maturity, redemption, or
interest payment dates. The bonds or notes being refunded
which are subject to redemption prior to their stated
maturity dates may be called for redemption on the earliest
redemption date or at such later date as the commission
shall determine. Refunding bonds may be issued in one or
more series, each series being in whatever principal amount
the commission determines shall be required to achieve the
purpose for the issuance of the refunding bonds, which
amount may be in excess of the principal amount of bonds or
notes being refunded thereby. All or any part of the
refunding bonds may be made payable from money in, and
secured by, the trust fund in addition to or in lieu of any
other money or security that the commission may provide for
the payment or security of the refunding bonds.

(d)  For the purpose of retiring the refunding bonds
issued under the provisions of this section and the payment
of the interest thereon, there shall be levied annually
against all of the assessable property within the sanitary
district by the county councils of Montgomery and Prince
George's Counties, so long as the bonds are outstanding and
unpaid, a tax sufficient to pay the interest on the bonds as
it becomes due and to pay the principal and redemption
premium, if any, of the bonds at their maturity or
redemption; provided that as to any series of refunding
bonds issued to refund storm and surface water drainage
bonds, the tax shall be levied by the county council of the
respective county in which the storm or surface water
drainage systems provided with the proceeds of the bonds
thus being refunded shall be located. Such tax shall be
determined, levied, collected and paid over to the
Washington Suburban Sanitary Commission in the manner
provided by section 4-5 of this [Code] ARTICLE, and all of
the provisions of section 4-5 of this [Code] ARTICLE shall
apply to the refunding bonds issued under this section. The
commission shall make adequate provision for extending to
the rate payers of the commission the benefit of savings in
debt service costs derived through the issuance of any
refunding bonds hereunder.

(e)  Any provisions of law requiring the fixing and
collecting of front foot benefit charges for the payment of
the principal of and the interest on the outstanding bonds
so refunded shall apply to the payment of the refunding
bonds issued under this section to refund such outstanding
bonds.

4-10. Bonds for trunk sewers, pumping stations and sewage
disposal facilities.

(a) For the purpose of providing funds for the design
and construction of trunk sewers and those sewers or