1106 LAWS OF MARYLAND. [CH. 540

as the Commission may determine, provided, however, that
there shall never be outstanding at any one time any such
notes in excess of Two Hundred Thousand ($200, 000) Dollars.
All such notes shall be authorized by resolution of the Com-
mission, which shall fix the actual or maximum face amount
of the notes, the actual or maximum rate of interest to be paid
upon the amount borrowed and the actual or approximate
maturity of the notes. The form and manner of execution
of such notes shall be determined by the Commission.

In order that the prompt payment of interest and the proper
provision for the payment of the principal of said bonds and
notes shall be assured, the prompt and proper performance
of the respective acts and duties heretofore defined is specifi-
cally enjoined, and any failure upon the part of any person,
persons, body corporate or agent to perform the necessary
acts and duties hereafter set forth, to pay over the said funds
as required, or to use said funds or any part thereof for any
other purpose than for the payment of the principal and in-
terest on said bonds and notes, is hereby declared a misde-
meanor and punishable as other misdemeanors are punishable
by Section 1011 (1035) of this sub-title.

1002. (1026) All sums collected by said Commission for
benefits levied against property for water supply, sewerage
and drainage construction, as provided in Section 997, (1021)
shall be set aside as a separate fund to be known and desig-
nated as the "Current Bond Fund", from which fund interest
shall be paid on all outstanding bonds, and the balance of
said fund shall be pro-rated, monthly, and applied to the pay-
ment of the principal of maturing serial bonds and the pay-
ment into the joint "Sinking Fund" account, as provided
under Section 995, (1019) of the proportionate part of the
principal of outstanding sinking fund bonds as the outstand-
ing par value of both types of bonds bear to each other. Said
Commission, in order to determine the amount necessary to be
levied under Section 995 (1019), shall deduct the amount to
its credit in said "Current Bond Fund" account from the
whole amount necessary to be raised in any one year for in-
terest on all of its outstanding bonds, the payment of the prin-
cipal of its maturing serial bonds and the proportionate part
of principal of all outstanding sinking fund bonds, and the
balance remaining to be raised shall be the amount to be
certified to the County Commissioners of Montgomery and
Prince George's Counties for collection by taxation as provided
under Section 995 (1019).

SEC. 2. And be it further enacted, That this Act shall take
effect on June 1, 1939.

Approved May 24, 1939.