4152

LAWS OF MARYLAND

Ch. 767

(3) HOWEVER, THERE MAY NOT BE OUTSTANDING AT ANY
ONE TIME ANY NOTE IN EXCESS OF THE AMOUNT NECESSARY TO PAY
THE PRINCIPAL AND INTEREST ON BONDS ISSUED UNDER CHAPTER 522
OF THE ACTS OF THE GENERAL ASSEMBLY OF 1953.

(C)  ALL NOTES SHALL BE AUTHORIZED BY RESOLUTION OF THE
WSSC, WHICH SHALL FIX:

(1)  THE ACTUAL OR MAXIMUM AMOUNT OF THE NOTES;

(2)  THE ACTUAL OR MAXIMUM RATE OF INTEREST TO BE
PAID ON THE AMOUNT BORROWED; AND

(3)  THE ACTUAL OR APPROXIMATE MATURITY OF THE
NOTES.

(D)  THE WSSC SHALL DETERMINE THE FORM AND MANNER OF
EXECUTION OF THE NOTES.

(E)  THE FUNDS AUTHORIZED TO BE BORROWED UNDER THIS
SECTION SHALL BE USED EXCLUSIVELY FOR THE PURPOSE DESCRIBED
IN THIS SECTION.

[(e)] (F) (1) The [Washington Suburban Sanitary
Commission] WSSC [is hereby designated as the organization
responsible for the administration, maintenance, and
operation of the] SHALL ADMINISTER, MAINTAIN, AND OPERATE
flood control and navigation projects.

[It shall fix the charges for the use of commercial
navigation facilities, the proceeds of which shall be
applied toward maintenance and operation costs.]

(2) The Prince George's County Council shall
levy annually [upon] ON all of the property assessed for
county tax purposes [within] IN the portion of the sanitary
district in Prince George's County[, upon the certification
of the Washington Suburban Sanitary Commission,] an ad
valorem tax at a rate THAT IS CERTIFIED ANNUALLY BY THE WSSC
AS necessary to produce [annually] the sum required to pay
[the balance of] the annual maintenance and operation costs
of the flood control and navigation projects.

[Should there be a surplus from the charges for the use
of the facilities after maintenance and operation costs have
been paid, the surplus shall be returned to the county
commissioners of Prince George's County, the
Maryland-National Capital Park and Planning Commission and
the Washington Suburban Sanitary Commission in proportion to
the capital costs contributed by each agency. The surplus
shall be applied toward payment of the principal and
interest of the outstanding bonds.]

[(f)](G) The Maryland-National Capital Park and
Planning Commission: