2360

LAWS OF MARYLAND

Ch. 414

facilities of the Sanitary District; providing that the
bonds shall be guaranteed as to payment of principal and
interest by the County Council of Montgomery County and the
County Council of Prince George's County, or the governing
body for each county, respectively, as may be provided by
law or instrument of Charter, with a provision for waiver of
the guarantee at the option of the Commission; providing for
the payment of the bonds and the interest on the bonds by
levy of taxes against assessable property within the
Sanitary District; providing for the collection of water
service charges; and providing for the ratification and
confirmation of any guarantee made by the County Council of
Montgomery County and the County Council of Prince George's
County, or the governing body for each county, respectively,
as may be provided by law or instrument of Charter, of any
water supply bonds of the Washington Suburban Sanitary
District heretofore issued.

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Washington Suburban Sanitary Commission,
created by Chapter 122 of the Acts of the General Assembly of
Maryland of 1918, be and it is hereby authorized and empowered to
issue bonds of the Washington Suburban Sanitary District in an
aggregate principal amount not exceeding $60,000,000 $25,000,000,
which bonds shall be in addition to any bonds authorized to be
issued under Chapter 122 of the Acts of 1918, or any amendments
thereof, or under any other Act of the General Assembly of
Maryland, and shall be fully registered bonds without coupons in
a form that the Commission deems necessary or desirable, in such
denomination or denominations as shall be determined by the
Commission, and shall bear interest at such rate or rates
annually as the Commission determines to be advantageous to the
Sanitary District and otherwise in the public interest, payable
semiannually, and shall be retired serially, the last bond to be
retired not later than 40 years from the date of issue. The
Commission may offer for sale and issue such bonds, from time to
time, as its necessity requires. The bonds shall be executed and
issued under the same provisions, limitations and restrictions
applicable to the bonds issued by the Commission under the
provisions of Chapter 122, as amended, except that the bonds may
not be subject to the limitation in Chapter 122, as amended, on
the amount of bonds that may be issued and may not be included in
computing the amount of bonds that may be issued under Chapter
122, as amended. The bonds shall be forever exempt from taxation
by the State of Maryland and by the counties and municipalities
in the State. The bonds shall be guaranteed, as to the payment
of principal and interest, by the County Council for Montgomery
County and the County Council for Prince George's County, or the
governing body for each County, respectively, as may be provided
by law or instrument of Charter, which guarantee shall be in the
form and under the provisions of Section 5 of Chapter 122, or any
amendment thereof or any Section enacted in lieu thereof. The
Commission, however, at its option may waive the guarantee of. the
Counties prescribed in this Act.