WILLIAM DONALD SCHAEFER, Governor                    Ch. 503

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 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, 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.

SECTION 2. AND BE IT FURTHER ENACTED, That the proceeds of
the bonds shall be used for the purpose of enlarging, increasing
and augmenting the water supply of the area served by the
Commission, including the construction or enlargement of any
impounding reservoir, filter plant, filtered water storage
structure, or pumping station, and all the necessary pipelines
and accessories appurtenant thereto, and the construction of
major supply lines and reinforcing mains.

SECTION 3. AND BE IT FURTHER ENACTED, That for the purpose
of retiring bonds authorized to be issued by this Act and payment
of the interest on the bonds, there shall be levied annually
against all of the assessable property within the Sanitary
District, 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, so long as the bonds are outstanding and
not paid, a tax sufficient to meet the interest on the bonds and
to pay the principal thereof as the principal and interest mature
or become due. The tax shall be determined, levied, collected
and paid over to the Commission in the manner provided by Section
6 of Chapter 122, or any amendment thereof, and all of the
provisions of Section 6 shall apply to the bonds issued under
this Act.

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