The Prince George's enquirer and southern Maryland advertiser. (Upper Marlborough, Md.) 1882-1925, 1918-06-21

portions of the Sanitary District IN
which, in its judgment, such systems,
or any of them, are necessary, and shall
divide such territory into water. sewer
age or drainage districts in such q way
as shall, in its judgment, best serve the
needs of the various communities anu
shall promote convenience and economy
of installation and operation. whenever
and as plans are completed in those
districts most needing service, the COM
mission shall give notice, by publication
in one or more newspapers puollshed
within the Sanitary District, that said
improvements are contemplated and
shall state the probable cost thereon.
that plans Of same may be seen at its
office. and that at time specified IN
said notice any persons interested IN
said improvements will be heard. Said
Commission may, however, without
notice. make such connections OF water
and sewer lines as may be deemed
necessary for the immediate relief OF
any community.
Sec. 5 And be it further enacted, That
for the purpose of providing funds for
the design, construction, establishment,
purchase or condemnation OF the water
supply, sewerage and drainage systems
in the Sanitary District, said Commls-
sion is authorized and empowered to
issue bonds from time to time, in such
amounts as it may deem necessary to
carry on its work, but at no time shall
the total issue of bonds for any purpose,
under this Act, exceed ten per centum
of the total assessable basis of property
assessed for county taxation purposes,
within the Sanitary District; provided,
however, that the issuance OF said bonds
under this Act shall be first approved
BY the Public Service Commission OF
Maryland, upon proper petition, notice
and hearing as now provided by law
for public service corporations in the
State of Maryland and the said Public
Service Commission is hereby given
Jurisdiction and authority to determine
the reasonableness of all such issues of
bonds. Said bonds shall be either
registered or coupon bonds, in such
den omination or denominatio as shall
be determined by the Commission, shall
bear interest not exceeding 5 per cent:
per annum, payable semi-annually, and
shall mature not exceeding fifty years
from the date of issue, and shall be
forever exempt from county taxation.
They shall be issued under the hand
and seal of said Commission and shall
be guaranteed as to payment OF principal
and interest by the County Commission
ers of both Montgomery and Prince
Georges Counties, which guaranty shall
be Endorsed on each of said bonds In
the following language: 1.-The payment
of interest when due and of the principal
at m aturity is guaranteed by Montgom-
cry and Prince Georges Counties,
MARYLAND" Such endorsement shall be
signed on each of said bonds by the
President and Secretary or Clerk of the
Board of County Commissioners of each
County, within twenty days after the
bonds are presented by said Commission
to them for Endorsement. In the event
of any liability under the above guaran-
ty. 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 said
District. Said Commission may in its
discretion purchase and cancel the
present outstanding bonds issued by
authority of Chapter 313 of the Acts Of
1915, out of the funds derived from any
issue of bonds under this Act.
Sec. 6. And be it further enacted.
That for the purpose of retiring the
bonds authorized to be issued by this
Act and the payment of the interest
thereon, there shall be levied against all
the assessable property within said
Sanitary District, by the County Com
missioners of Montgomery and Prince
Georges Counties, annually, 80 long as
any Of said bonds are outstanding and
not paid, tax sufficient to meet the in
terest on said bonds as it becomes due,
and to pay the principal thereof IS they
mature, said tax to be determined,
levied, collected and paid over in the
following manner: At least thirty days
before the tax levying period Of each
year. the respective County Commiss.
toner's shall certify to the Sanitary
Commission the whole valuation of
assessable property within the Sanitary
District. Said Sanitary Commission
shall then determine the amount neces.
ary to be raised for the ensuing year
for the payment of interest and pro.
portlonate part of principal of all out
standing bonds, the amount to be paid
on the principal of said bonds in any
one to be determined by the usual table
of redemption of bonds by annual de-
/
after deducting all amounts in hand
applicable to payment of interest and
principal on said bonds, as hereinafter
provided, it shall determine the number
of cents per 800 necessary to raise the
said amount and shall so certify to each
Board of County Commissioners. The
said County Commissioners in their
next annual levy shall levy said tax on
all land and improvements and any other
property assessed for county tax pur'
poses within said Sanitary District.
which tax shall be levied and collected
as county taxes now are or may be
hereafter by law levied and collected
and have the same priority rights, bear
the same interest and penalties and IN
every respect be treated the same as
county taxes. The tax 80 levied for
the ensuing year shall be collected by
the respective tax collecting authorities,
and every sixty days they shall remit
the whole amount OF the tax 80 collect
ed to the said Sanitary Commission.
From the money so received, together
with the amount in hand to the credit
Of said bond fund, said Sanitary Com
mission shall hrst pay all interest or
said bonds as it natures, and shall then
deposit in some bank or banks in one
or both of said Counties to the credit OF
the County Commissioners Of both
Counties and said Commission, as a
joint fund to be known as "Sinklp 6
Fund Account" the amount so raised
for payment Of the principal of said
bonds. Said Commission and the re-
spective County Commissioners, shall
from time to time, invest said sinking
fund in any bond or bonds in which
savings or trust funds are authorized to
to invested by National Banks by the
U. s. Treasury Department. Should
receipts from said tax or other sources
be inadequte to deposit the principal
payment on said bonds, by reason Of
defaults or otherwise, such deficiency
shall be added to and collected in the
next years tax The said Commission
is authorized to pay the interest on any
bonds It may issue prior to the first tax
levying period out Of the proceeds oil
the sale of said bonds. In order that the
prompt payment Of interest and the
proper provisions for the payment OF
the principal Of said bonds shall be as.
sured, the prompt and proper perform.
on,a ~ tho reaDective actS and dutips