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1403
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HARRY HUGHES, Governor
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shall certify annually to the county the amount of money
necessary to pay the principal and interest and also apply to the
payment all funds in its hands received from the county for this
purpose.
(e) In addition, the Commission may solicit from the
holders of bonds tenders for the redemption thereof prior to
maturity, either at, above, or below the par value thereof plus
accrued interest, and purchase the bonds from the funds
accumulated at the prices offered. No such price may exceed the
par value of the bonds plus a premium of five percent of par
value. In order to obtain any tender, the Commission may employ
any broker, banker, or other person or persons, qualified to
obtain it and, by public notice or otherwise, may prescribe the
terms and conditions under which it will receive the tenders.]
[8-115.] 6-107.
(a) For the purpose of paying the current operating or
administrative expenses of the. Commission, including the cost of
the development of the plan of the regional district or any part
of the plan and including the cost of the exercise of the powers
and functions granted to the Commission, there shall be levied
annually against all the assessable property within the regional
district by Montgomery and Prince George's counties,
respectively, a tax of three cents on each $100 of assessable
property within the regional district. Each of the counties in
each annual levy, except as hereinafter provided, shall levy the
tax on all property in its county within the regional district,
both real and personal, assessed for county tax purposes. These
taxes shall be levied and collected as county taxes are levied
and collected; and they shall have the same priority rights, bear
the same interest and penalties, and in every respect be treated
the same as county taxes. The proceeds of the collection of the
tax shall be paid to the Commission and constitute the
administrative fund of the Commission. The expenditures of the
Commission for operating or administrative purposes shall be
within the amount of the fund, together with additional funds
appropriated or contributed for these purposes by the two
counties, the General Assembly of Maryland, the United States, or
private donors.
(b) If by decree of court the provisions of subsection (-a)
of this section for a three cent tax should be permanently
enjoined or otherwise invalidated, so that the County Council of
Montgomery County and the County Council of Prince George's
County can no longer levy and collect the three cent tax as
provided for in the subsection, then the repeal of § 5 of Chapter
448 of the Laws of the General Assembly of Maryland of 1927, by
Chapter 714 of the Acts of the General Assembly of 1939, and by
Chapter 992 of the Acts of the General Assembly of 1943, shall
terminate; and the repeal shall be treated as no longer in
effect, and § 5 of Chapter 448 of the Acts of 1927 shall be
deemed reenacted and in full force and effect.
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