Evening star., 1962-12-04

Paying Agent and Registrar:
Citizens Bank of Maryland Riverdale, Maryland
Alternate Paying Agent for Both Series
Chemical Bank New York Trust Company, New
York. N
Each Series of said bonds will be in the denomina-
ton of 81 000 numbered accordingly, unless within
4S hours Of the receipt of bids, the Secretary
Treasurer of the Commission shall have received
from the successful bidder or bidders an election
that the Series purchased by said bidder or bidders
shall be in the denomination of $5,000 in which
event the Series with respect to which such election
is made shall be issued in such denomination, and
shall not thereafter be eXchangeabe for bonds of
any other denomination.
Each Series will be coupon bonds, registrabe as to
principal only with the applicable registrar above
named. Principal and semi-annual interest June
IS and December 15) will be payable on each Series
at the principal office of the applicable paying
agent above named or at the principal office of
the alternate paying agent.
Each Series will be obligations Of the Commission,
payable as to both principal and interest from the
proceeds of special dd Ualorem tax, known as the
Park Tax, which the County guaranteeing such
Series is required by law to levy in that portion Of
the Maryland Washington Metropolitan district in
such County for the support Of the park system of
the Commission. Said District was created by the
General Assembly Of Maryland and has, from time
to time been enlarged to embrace the suburban
areas Of both Montgomery and Prince Georges
Counties. IT. in any year. the Park Tax levied by
either County proves insufficient to pay the
principal OF and interest on the bonds OF the
Commission guaranteed by such County, then such
County is required by law to levy an additional tax
in the portion Of the District in such County
sufficient TO make up the deficiency. The bonds
of Series JJ will be Internationally guaranteed by
Montgomery County by endorsement on each bond
OF said Series and the bonds OF Series XIX will be
Internationally guaranteed by the County Commits
sioners Of Prince Georges County, by endorsement
on each bond OF said Series. In each instance,
such guarantee will constitute pledge Of the full
faith and credit Of the County making such
endorsement to the payment of the principal of
and interest on the bonds endorsed and, TO the
extent that the aforesaid taxes levied by said
County are inadequate in any year for the payment
OF such principal and interest will obigate such
County to levy upon all property within Its
territorial limits subject to County taxation annual
ad udlorem taxes in rate and amount sufficient TO
make up any such deficiency.
The bonds of each Series which mature after
December IS, 1877, will be subject TO redemption
prior 10 their respective maturties, at the option
Of the Commission, in whole on any date not earlier
than December Is, 1877, or in part in the inverse
order Of their numbers, on any interest payment
date not earlier than December Is, 1877, at the
principal amount OF the bonds TO be redeemed
together with the interest accrued thereon TO the
date fixed for redemption plus premium equal TO
"a Of IL Of the principal amount OF each bond TO
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