4044

LAWS OF MARYLAND

Ch. 767

lost bond a guaranty identical with the guaranty on such
mutilated or destroyed or lost bond, and such endorsement
shall be signed as provided in § [4-1] 4-101 of this
[article] TITLE, as amended.

[4-3] 4-103. Waiver of guarantee.

The [Washington Suburban Sanitary Commission] WSSC, a
public corporation, at its option, and if in its opinion the
application of this section does not seriously affect the
sale of its securities, may waive the required guarantee of
[the county council of] Montgomery [County] and [the county
commissioners of] Prince George's [County] COUNTIES of its
bonds and certain other securities, as now required by law;
but this section shall not be taken to mean that the waiver
of the guarantee on any one issue of its bonds or securities
shall be construed to be a waiver of the guarantee of all
future issues of its bonds or securities. It is the purpose
of this section to permit the [sanitary commission] WSSC to
waive the present requirement of law as to the guarantee of
its bonds and securities by [the council and the
commissioners] MONTGOMERY AND PRINCE GEORGE'S COUNTIES where
money market conditions seem to justify the sale of the
securities of the sanitary district without such guarantee
but to require such guarantee where monetary conditions seem
to require the guarantee to secure a favorable sale of its
securities.

[4-4] 4-104. Interest rate.

Any bonds, notes, certificates of indebtedness or other
instruments evidencing debt of the [Washington Suburban
Sanitary District] SANITARY DISTRICT, issued under the
provisions of this article or of any other law after July 1,
1968, shall bear interest at such rate or rates annually as
the [commission] WSSC determines to be advantageous to the
SANITARY district and otherwise in the public interest,
notwithstanding any other provisions of this article to the
contrary.

[4-5] 4-105. Retirement of bonds and notes generally;
sinking fund; tax anticipation notes.

(a) For the purpose of retiring the bonds and notes
authorized to be issued by this article and the payment of
the interest thereon, there shall be levied against all the
assessable property within such sanitary district, by the
[county council and county commissioners] COUNTY COUNCILS of
Montgomery and Prince George's counties, respectively,
annually so long as any of such bonds or notes are
outstanding and not paid, a tax sufficient to meet the
interest on such bonds and notes as it becomes due, and to
pay the principal thereof as they mature, such tax to be
determined, levied, collected and paid over in the following
manner: At least [thirty] 30 days before the tax levying