PARRIS N. GLENDENING, Governor

Ch. 494

Section 4-101(a)(1)

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) (I) 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] THOSE 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] MAY
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].

(II) SUBJECT TO SUBSECTION (E) OF THIS SECTION, FOR THE
PURPOSE OF PROVIDING FUNDS FOR THE ACQUISITION OR PURCHASE OF CAPITAL
EQUIPMENT SUCH AS TRUCKS, FLEET VEHICLES, COMPUTERS, LABORATORY AND
MAINTENANCE EQUIPMENT, AND OTHER EQUIPMENT USED BY THE WSSC IN
PROVIDING SERVICES TO CUSTOMERS INCLUDING MAINTENANCE FIELD AND YARD
EQUIPMENT. TRUCKS. FLEET VEHICLES. COMPUTER EQUIPMENT,
TELECOMMUNICATION EQUIPMENT, OFFICE EQUIPMENT, AND LABORATORY
EQUIPMENT, THE WSSC MAY ISSUE BONDS OF THE SANITARY DISTRICT, FROM TIME
TO TIME, IN SUCH AMOUNTS AS IT MAY DEEM NECESSARY TO CARRY ON ITS WORK.

(III) 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] MAY not
exceed [14 percent] 14% 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] MAY 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,

(IV) 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 ISSUE OF the bonds.

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