Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-07-13


County, Maryland
100000 Bonds of Series U
Guaranteed by Prince
Georges County, Maryland
Sealed proposals will be received
by the observation-disclosures Capita
Park and Planning Commission. al
Isl rs Fq SyeS GeTsseI R0 SesO1Rs ve 1ie
Maryland, until 1900 O'Clock Noon
Eastern Daylight Saving Time, or
Tuesday, July "a, 1856
For the purchase, as a unit,
of the four series of bonds
described below:
All Of said bonds will be dated
July /, 1856. will be in the denomi-
nation Of 81 200, will bear interest
payable semiannually on the first
days of January and July unit
maturity. will be in coupon form
registrable as to principal only, and
will be issued to mature in seria
i,hpstallmsnts on On July ole in each a,v o.
without option of prior payment
Principal and interest will be pay
able at the principal office of Citi-
zenS Bank of Maryland, RiVerdale
Maryland. All OF said bonds will
constitute general obligations Of ths
be exempt from taxation by the
State Of Maryland and by the
counties and municipalities of said
State.
The bonds hereby offered
are:
$1,000, 605. Advance Park Acaui-
sition Bonds, Series T, uncondition-
ally guaranteed as to payment OF
principal and interest by Montgom-
cry County, Maryland. numbered
in numerical order. $4,000 on July
] in each of the years 1857 to
100000. Advance Park Acaui-
sition Bonds, Series U. uncondition-
ally guaranteed as to payment OF
Georges County. Maryland, num-
bered from No. l upward, and ma
turing in numerical order. $4,000
on July l in each Of the years 1857
to 1876, inclusive.
100000 Regional once Build
ing Bonds. Series 2, Internationally
guaranteed as to payment of prin-
cipal and interest by Montgomery
County, Maryland. numbered from
No. l upward. and maturing in nu-
merical order, $4,000 on July ! in
each of the years 1857 to 1876.
$4,000. Little Falls Branch
Internationally guaranteed as to
payment Of principal and interest by
MONTGOMERY County. Maryland, num-
bered from No. ! upward, and ma
turing in numerical order. $4,000
on July l in each of the years 1857
in each Of the years 1867 to 1876.
The above issues of bonds will
be awarded together as one parcel.
Bidders are required to make a
proposal for the issues guaranteed
by Montgomery County, and q sep
1s PROPOSE DY p1nf for the issue c0 sIa5
both proposals to be made on the
prescribed form accompanying the
Oficial Statement. No proposal for
said issues Of bonds offering to
purchase less than all thereof or
offering q price less than par and
accrued interest will be entertained.
The right is reserved to reject any
and all bids. Each proposal must
be enclosed in a sealed envelope.
marked Proposal for The Maryland
National Capital Park and Planning
Commission Bonds. Series T, Series
u. Series z and Series &C." Each
proposal must be accompanied by
check upon an incorporated bank
or trust company, drawn to the
order of the Secretary-Treasurer Of
the Commission, in the amount OF
Forty-five Thousand Dollars (S45,-
O00) as . good faith deposit to
secure the Commission against any
loss, resulting from the failure OF the
his proposal. No interest will be
allowed on the amount of the de-
post of the successful bidder, which
will be credited on account of the
total purchase price of the bonds:
Cheeks deposited by unsuccessful
bidders will be returned to them
when the bonds are awarded to the
successful bidder.
The bonds will be awarded on
the date above stated for receipt of
proposals and well be delivered TO
the purchasers within q reasonable
time thereafter without additional
charge in Washington. d. C.. Balti-
more, Maryland or New York. N. Y.
as designated by the purchasers.
Accrued interest will be adjusted to
the date Of delivery Of the bonds
and payment thereof.
Bidders are requested to name
the interest rate or rates. not
per annum, in multiples Of 70 or
1/10. Of III, on which their bids
are based and each bidder must
specify in his bid the interest rate
TO be borne by each Of the several
maturities Of the bonds. Bidders may
specify q different rate of interest for
each year of maturity but may not
NRarfNv than lnfaFaEt rate
for any serial maturity Of the bonds
guaranteed by Montgomery County,
Maryland. or more than one in
terest rate for any serial maturity
of the bonds guaranteed by Prince
Georges County. Maryland.
accrued interest or for less than all
OF the bonds offered will be enter
tanned. The bonds will be awarded
to the bidder offering to purchase
the bonds at the lowest interest cost
TO the Commission, such cost to
be determined by deductins the
amount Of any premium bid from
interest payable upon all of the
bonds from their date of issue until
their respective maturities. Where
two or more bidders have named
the same lowest interest cost. the
Commission. may divide. the bonds
should prove unacceptable or un-
feasible. the Commission shall have
the right to determine to which
Of said bidders all Of said bonds
will be awarded.
Ali Of said bonds are authorized
BY Chapter. zoos Of the Laws Of
vi thereof, and are issued in accord
ance with a Resolution adopted by
the Commission on June ID, 1856
srt Resolutions adopted respectively
by MONTGOMERY County. Maryland,
and by the County Commissioners
Of Prince Georges County. Mary
toned Resolutions. the bonds Of
Series T, Series q and Series &C
will be Internationally guaranteed
as to payment Of principal and
interest by MONTGOMERY County
Maryland. by endorsement on each
of the bonds Of said Series and the
bond: Of Series y will be uncondi;t
of Principal and interest. by the
County Commissioners Of Prince
Georges County, Maryland, by en-
dorsement on each OF said BONDS:
Each of said series of bonds will
constitute general and unconditional
obligations Of the County guarantee
The principal Of and interest on
the bonds on Series T. Series U and
Series &C will be payable by the
Commission primarily from the Pro-
ceeds Of a pledged portion OF an
ad valorem tax known as the PARE
Tax. which Montgomery County is
use and benefit of the Commission,
at the rate of cents per 500 OF
assessed value, upon all fully tax.
able property within. the limits Of
that portion of the Maryland:
washington Metropolitan District
located within said County. The
from the proceeds Of a pledged por-
tion OF an ad valorem tax. also
known as the Park Tax, which the
County Commissioners Of Prince
Georees County is required by law
70 levy for the use and oeneht o.
cents see oT per siO6 Of ASSESSED value
upon all fully taxable property with
IN that portion of the MARYLAND.
Washington Metropolitan District
located within that County. Prince
Georges County Is permitted by law
TO increase said Park Tax % z cents.
beginning July /. 1866
with respect TO each series Ct the
bonds hereby offered. the Commits
sion has pledged to debt SCI vice
thereon a fraction Of the Park Tax
levied by the County guaranteeing
TAX levied by either county shall
prove insufficient to provide for
debt service as aforesaid said
County IS required BY law 10 levy
an additional ad valorem tar en-
ali fully taxable property in the
portion Of the Maryland-W washington
- AgN
County and. If the proceeds OF such
iaX shnnld nrnVe Insufficient. the