The Prince George's enquirer and southern Maryland advertiser. (Upper Marlborough, Md.) 1882-1925, 1918-06-28

winch, IN lLS Judgment, SuCH SJo'enS
or any of them, are necessary, and snail
divide such territory into water. sewer
age or drainage districts in such 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 tnoss
districts most needing service, the COM
mission shall give notice, by publication
in one or more newspapers pupllsned
within the Sanitary District, that SAID
improvements are contemplated and
shall. state the probable cost thereof.
that plans of same may be seen az us
office. and that at a 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 Commits
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
denomination or denomin atoms as shall
be determined by the Commission, shall
bear interest not exceeding 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 maturity 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 guarau-
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
1916, 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 tie County Com
missioners of Montgomery and Prince
| Georges Counties, annually, so long az
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 10 be raised for the ensuing yea
| for the payment of interest and pro
portlonate part of principal OF all out
| standing bonds, the amount to be paie
on the principal of said bonds in any
one to be determined by the usual table
of redemption of bonds by annual de-
post in sinking fund on interest, ant
| after deducting all amounts in hant
| applicable to payment of interest ant
| principal on said bonds, as hereinafter
| provided, it shall determine the number
| of cents per 800 necessary to raise TIT
| said amount and shall so certify to eact
| Board of County Commissioners. TIT
| said County Commissioners in theil
| next annual levy shall levy said tax or
| all land and Improvements and any othel
| 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 bt
| hereafter by law levied and collected
! and have the same priority rights, beal
the same interest and penalties and il
every respect be treated the same al
county taxes. The tax so levied fol
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 so collect
ed to the said Sanitary Commission
From the money SO received, together
| with the amount in hand t. the credit
Of said bond fund, said Sanitary Com
mission shall drst pay all interest OF
said bonds as it natures, and shall theI
| deposit in some bank or banks in ont
or both Of said Counties to the credit o
the County Commissioners Of boil
Counties and said Commission, as I
Joint fund to be known as "Sinklul
| Fund Account" the amount so raiset
for payment CT the principal of sait
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 t
to invested by National Banks by tn
U. 8. Treasury Department. Should
receipts from said tax or other source
be inadequte to deposit the principa
payment on said bonds, by reason o
defaults or otherwise, such defcienc'
shall be added to and collected in tn
next years tax The said Commission
is authorized to pay the interest on an,
bonds it may issue prior to the first ia!
levying period out of the proceeds o
the sale of said bonds. In order that tn
prompt payment of interest and tn
| proper provisions for the payment o
the principal of said bonds shall be as
sured, the prompt and proper perform
ance Of the respective acts and dutie
heretofore defined is specifically enjoin