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Session Laws, 1981
Volume 741, Page 3152   View pdf image
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3152                                   LAWS OF MARYLAND                                 Ch. 805

rates, not exceeding five percent [(5%)], as it may
determine, such bonds to be the general obligation of Prince
George's County. For the purpose of paying the principal of
[said] THE bonds as they mature and the interest thereon,
the commissioners of Prince George's County shall levy
annually upon all of the property assessed for county tax
purposes an ad valorem tax at a rate necessary to produce
annually the sum required to pay the principal and interest
for the current year.

(2)  The Washington Suburban Sanitary Commission
is authorized and directed to issue its bonds in an amount
not exceeding $1,500,000 in such denominations and for such
terms[, not exceeding forty years, and at such rate, not
exceeding five percent (5%), as it may determine] AS
PROVIDED IN § 4-4 OF THIS ARTICLE, such bonds to be the
general obligation of the Washington Suburban Sanitary
District, guaranteed as to both principal and interest by
the county commissioners of Prince George's County only; the
county commissioners of Prince George's County are hereby
authorized and directed to guarantee [said] THE bonds in
substantially the manner and form of the guarantee of the
construction bonds of [said] THE commission. Such guarantee
shall operate as a pledge of the full faith and credit of
the county commissioners of Prince George's County to the
payment of the maturing principal and interest of [said] THE
bonds and, to the extent that the taxes hereinafter in this
subsection provided for are inadequate to provide the funds
necessary to pay such principal and interest in any year,
[said] THE county [commissioners] COUNCIL shall levy upon
all property subject to taxation within its corporate limits
ad valorem taxes in rate and amount sufficient to make up
any such deficiency. For the purpose of paying the
principal of [said] THE bonds as they mature and the
interest thereon, the [county commissioners of] Prince
George's County [are directed to] COUNCIL SHALL levy
annually upon all of the property assessed for county tax
purposes within the portion of [said] THE 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 the principal and interest for the current year on
[said] THE bonds or any part thereof outstanding, which tax
shall be levied and collected as other commission ad valorem
taxes are levied and collected and paid to [said] THE
commission.

(3)  The Maryland-National Capital Park and
Planning Commission is authorized and directed to issue its
bonds in an amount not exceeding $1,000,000 in such
denominations and for such terms, not exceeding forty years,
and at such rate, not exceeding five percent [(5%)], as it
may determine, such bonds shall be issued on the full faith
and credit of the Maryland-National Capital Park and
Planning Commission and guaranteed as to both principal and
interest by the county commissioners of Prince George's
County only; the county commissioners of Prince George's

 

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Session Laws, 1981
Volume 741, Page 3152   View pdf image
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