HARRY HUGHES, Governor

4151

CONTROL AND NAVIGATION FUND INTO WHICH THE PROCEEDS OF ALL
BONDS ISSUED FOR THIS PURPOSE SHALL BE PAID.

(2) THE WSSC shall [establish a separate fund to
be designated as the "flood control and navigation fund",
from which]:

(I)   [fund] PAY all costs of the flood
control and navigation projects FROM THE FUND, [other than]
EXCEPT FOR costs [to be] borne by the [federal government]
UNITED STATES and the [state roads commission] STATE HIGHWAY
ADMINISTRATION [shall be paid.];

(II)   [The proceeds from the bonds
authorized to be issued by this section shall be applied]
APPLY THE FUND [toward] TO the cost of:

1.   [constructing] CONSTRUCTING and
relocating all county highways and bridges [complete, the
construction of recreational and commercial boat basins];

2.   [and the construction of]
CONSTRUCTING necessary internal drainage facilities;

3.   [, the relocation of] RELOCATING
utility structures; and

4.   [for the acquisition of]
ACQUIRING land and buildings [which it is] THAT ARE
necessary [to acquire] for the flood control and navigation
projects.

(F) THE WSSC MAY ACCEPT CONTRIBUTIONS FROM THE UNITED
STATES, THE DISTRICT OF COLUMBIA, THIS STATE, PRINCE
GEORGE'S COUNTY, MONTGOMERY COUNTY, ANY MUNICIPALITY,
SPECIAL TAXING AREA, OR ANY OTHER PERSON IF IN THE WSSC'S
OPINION, THE CONTRIBUTION MAY BE ADVANTAGEOUS IN THE
CONSTRUCTION OF ANY PROJECT UNDER THIS SECTION.

13-102. Tax anticipation borrowing.

(A)   IF RECEIPTS FROM TAX COLLECTION ARE INADEQUATE TO
PAY THE PRINCIPAL OR INTEREST ON ANY BONDS ISSUED UNDER
CHAPTER 522 OF THE ACTS OF THE GENERAL ASSEMBLY OF MARYLAND
OF 1953 THE WSSC SHALL BORROW MONEY IN ANTICIPATION OF THE
TAXES TO PAY THE PRINCIPAL AND INTEREST ON BONDS DUE OR TO
BECOME DUE.

(B)  (1) NEGOTIABLE NOTES SHALL BE ISSUED FROM ALL
MONEY BORROWED AND MAY BE RENEWED.

(2) NOTWITHSTANDING THE PROVISIONS OF ARTICLE 31
OF THE CODE, THE NOTES MAY BE DISPOSED OF IN ANY MANNER THAT
THE WSSC DETERMINES.