682 LAWS OF MARYLAND. [CH. 178

Section 402-C. Said commission shall annually organize
by electing a chairman, secretary and treasurer. The treas-
urer shall give bond in the sum of $10, 000 to the Mayor and
City Council of Havre de Grace for the faithful performance
of his duties as treasurer. The said Commission shall keep
books showing accurately the receipts and expenditures of the
Commission, as well as minutes of its proceedings, and said
Commission shall annually on the first day of February in
each year render to the Mayor and City Council a statement
of the receipts and expenditures of said Commission, together
with a report of its activities for the year, as well as any rec-
ommendations for the improvement of the utilities which it
operates.

Section 402-D. The said Commission is hereby vested with
all of the rights and powers necessary to operate efficiently
any utility acquired or owned by the City of Havre de Grace
to fix rates for those using said utilities to employ such person
or persons as it may deem wise and necessary to properly op-
erate said utilities, make repairs, extensions, improvements and
betterments, buy materials and supplies, and in general to do
all things necessary to be done by it in order to operate said
utilities in a satisfactory and efficient manner; provided that
no increase in rates over the initial rates fixed by said Com-
mission may be charged by it, unless the approval of said new
and increased schedule of rates is first had and obtained by a
majority of the members of the City Council of said city.
In case of a tie vote on said proposition, a quorum of the City
Council being present, the Mayor may cast the deciding vote
on such proposal to fix rates.

Section 402-E. The said Commission may from time to
time turn over to the Mayor and City Council such part of
the moneys it has received, and which are not needed in the
operation of said utilities, and any money so turned over to
the Mayor and City Council shall be applied by said Mayor
and City Council first to the paying of any bonded debt or in-
terest on same, which the said Mayor and City Council may
have made at the time it acquired said utilities, and no money
turned over by said Commission shall be expended by the
Mayor and City Council of Havre de Grace for any other pur-
pose as long as any debt exists which was incurred in the ac-
quisition of said utilities.

Section 402-F. All contracts and obligations entered into
by said Commission, or a majority of them, shall be binding