WM. PRESTON LANE, JR., GOVERNOR. 555

thereafter for equal terms of ten years, and one of the mem-
bers so appointed shall be affiliated with the principal minority
party in the City. Any person appointed to said Commission
may be removed therefrom for misfeasance or malfeasance in
office by a two-thirds vote of The Commissioners of Cambridge
after due notice to such person of the charges against him and
a public hearing on such charges, and any vacancy on said Com-
mission created by removal, resignation or death of a member
shall be filled by The Commissioners of Cambridge for the un-
expired term for which such member was appointed. Said
Commission shall collect and hold on behalf of the City all
charges, fees and rates realized from the operation of the
project and shall disburse or deduct from the fund so created
all costs and expenses, or reserves therefor, of operation,
maintenance, insurance and repair. Subject to approval by
The Commissioners of Cambridge, said Commission may em-
ploy such consulting, technical, operating and clerical per-
sonnel as may be needed for the most economical and efficient
operation of the project. Every six months the Commission
shall make a report to the City of its operations, including a
financial statement and every three months it shall pay over
to the City the net revenues from the project after deduction
of the disbursements, expenses and reserves above provided
for. The City shall first use the revenues so derived from the
project for servicing its outstanding revenue or general obliga-
tion bonds issued in connection with the project as hereinafter
provided, and after making the payments, if any, necessary
for that purpose, the City may add the balance of said net
revenues to its general funds for appropriation to any lawful
municipal purpose.

114E. (General Obligation Bonds.) If the City shall deter-
mine that all or any part of a project be acquired by purchase,
and if it shall also determine that all or any part of the cost
of acquisition shall be borne by the City, it may finance said
cost of acquisition by borrowing the requisite sum or sums
of money on its full faith and credit, evidencing such borrow-
ing by the issuance and sale at public or private sale of its
general obligation bonds in par amount equal to the amount
of such borrowing. Such bonds shall be authorized by ordi-
nance and shall be issued in such form as said ordinance
may prescribe, provided, however, that said bonds may be
issued on a sinking fund or on a serial maturity plan, and if
on a serial maturity plan, the last maturity shall not be
longer than thirty years from date of issue. S'aid bonds
shall bear interest at a rate not to exceed four per centum
per annum. Said bonds are hereby exempted from the pro-
visions of Sections 34, 35 and 36 of Article 31 of the Code