794

LAWS OF MARYLAND

Ch. 255

Councils. In case any officer whose signature or a facsimile of

whose signature shall appear on any refunding bond or coupon
shall cease to be an officer before the delivery of the refunding
bond, the signature or facsimile shall nevertheless be valid and
sufficient for all purposes just as if the officer had remained

in office until the delivery. Any refunding bonds issued to

refund bonds guaranteed as to the payment of principal and
interest by Montgomery or Prince George's [counties,] COUNTY may
be guaranteed in like manner in the form and under the provisions
of § 4-101 of this title. Refunding bonds authorized under this
section shall be in addition to any other bonds authorized to be
issued under this article or any amendments of this article, and
shall be included in computing the amount of bonds which may be
issued under the 14 percent limitation of § 4-101(a) of this
title. The provisions of § 4-101(a) of this title exempting from
taxation other bonds of the sanitary district shall apply to
refunding bonds. Any power expressly granted under this section
is not subject to the provisions of any other law or other
section of this article in conflict with that power.

4-110.

(b) They shall be issued under the hand and seal of the
WSSC and shall be guaranteed as to payment of principal and
interest by Montgomery and Prince George's counties, which
guarantee shall be endorsed on each of such bonds in the
following language: "The payment of interest when due and the
principal at maturity is guaranteed by Montgomery and Prince
George's counties, Maryland." The bonds of the sanitary district
shall be signed by the chairman and the secretary and the
treasurer of the WSSC or, if the WSSC shall so provide, by any 2
of its members, and the official seal of the WSSC shall be
impressed upon the bonds; provided, however, that the WSSC may
authorize any of such officials to sign the bonds with his
facsimile signature; except that each of such bonds shall be
manually signed by at least 1 of such officials; and provided,
further, that the WSSC may authorize a facsimile of the official
seal of the WSSC to be imprinted on the bonds, in which case it
shall not be necessary that such official seal be impressed
physically upon the bonds. Such guarantee or endorsement by
Montgomery and Prince George's counties shall be signed on each
of such bonds on behalf of each county by the County Executive of
each county or by any officer designated for such purpose by the
County Executive, by his facsimile or manual signature as the
County Executive shall each respectively determine, within 20
days after the bonds are presented by the WSSC for the signing of
such endorsement. In the event of any liability under the above
guarantee, such liability for each county shall be in such
proportion as the assessable basis of that part of either county
within the sanitary district bears to the assessable basis of the
whole of such district. Notwithstanding the foregoing provisions
of this [paragraph] SUBSECTION, the WSSC may, at its option and
pursuant to the provisions of § 4-103 of this title, waive the
guarantee of such counties above provided for.