PARRIS N. GLENDENING, Governor

Ch. 489

BY repealing and reenacting, with amendments,

Article 29 - Washington Suburban Sanitary District
Section 4-101(a)(1), 4-108(a), 4-109(b), and 4-110(a)
Annotated Code of Maryland
(1993 Replacement Volume and 1996 Supplement)

BY adding to

Article 29 - Washington Suburban Sanitary District

Section 4-101(e)

Annotated Code of Maryland

(1993 Replacement Volume and 1996 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article 29 - Washington Suburban Sanitary District

4-101.

(a) (1) For the purpose of providing funds for the design, construction,
reconstruction, establishment, extension, enlargement, purchase or condemnation of the
water and sewerage systems in the sanitary district, or in any other areas where extension
of any of the aforementioned systems may be authorized by law, or for the construction,
remodeling, enlargement or replacement of any office or operating building or buildings
required for the administration or operation of any of the systems, including the
acquisition of land or equipment, the WSSC is authorized and empowered to issue bonds
of the sanitary district, from time to time, in such amounts as it may deem necessary to
carry on its work[, but the aggregate amount of bonds heretofore or hereafter issued
under this section which may be outstanding at any time, less the amount held in the joint
sinking fund account for the payment of the principal of the bonds, shall not exceed 14
percent of the total assessable basis of all property assessed for county taxation purposes
within the sanitary district; provided, however, that in computing the amount of bonds
which may be issued under this section, there shall not be included any bonds heretofore
or hereafter issued for the payment of which the WSSC is required by law to fix and
collect water service charges at least sufficient to pay the principal and interest
requirements of such bonds]. Bonds hereafter issued under the authority of this section
shall be serial bonds with the principal of any given issue payable annually, commencing
not more than 3 years from the date of the bonds. The bonds may be either registered or
coupon bonds, or registerable as to principal with interest represented by coupons and
issued in such denomination or denominations as shall be determined by the WSSC, shall
bear interest as provided in § 4-104 of this title payable [semi-annually]
SEMIANNUALLY and shall mature not exceeding 40 years from the date of issue, and all
bonds of the sanitary district or of the WSSC, including those heretofore issued, shall be
forever exempt from taxation by the State of Maryland and by the counties and
municipalities in the State. Any bonds hereafter issued by the WSSC in its name or in the
name of the sanitary district may be made redeemable before maturity at the option of
the WSSC, at such price or prices and under such terms and conditions as may be fixed by
the WSSC prior to the issuance of such bonds.

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