THEODORE R. MCKELDIN, GOVERNOR 1325

(E) WITH RESPECT TO ANY SUCH SERIES OF
BONDS AUTHORIZED UNDER THIS SECTION, THE
COMMISSION MAY, IN ITS DISCRETION, LIMIT THE
PARTICIPATION OF ANY SUCH COUNTY IN SAID
SERIES SO THAT NO COUNTY SHALL OBTAIN MORE
THAN ITS APPROPRIATE SHARE OF THE TOTAL
PROCEEDS OF SAID SERIES;

(F) UPON MAKING SAID COMPUTATION, THE
COMMISSION SHALL NOTIFY EACH SUCH COUNTY
SO DESIRING TO PARTICIPATE, AS AFORESAID, OF
THE AMOUNT OF BONDS WHICH THE COMMISSION
WILL ISSUE IN SAID FISCAL YEAR ON BEHALF OF
SAID COUNTY, AS ABOVE DETERMINED, AND SAID
COMMISSION SHALL THEN ISSUE AND SELL SUCH
AMOUNT OF ITS BONDS UNDER THIS SECTION AS
A PART OF THE NEXT SERIES OF SUCH BONDS,
AND SHALL PAY THE NET PROCEEDS OF SUCH
BONDS TO EACH SUCH COUNTY AFTER DEDUCT-
ING FROM EACH A PROPORTIONATE SHARE OF
THE COST OF THE ISSUANCE OF SAID BONDS AND
ANY BONDS ISSUED UNDER THE PROVISIONS OF
SECTION 162G OF THIS ACT SHALL BECOME THE
OBLIGATIONS OF THE STATE ROADS COMMISSION
AND FURTHER PROVIDED THAT, PRIOR TO SAID
SALE, THE COMMISSION AND SAID COUNTY SHALL
HAVE ENTERED INTO AN AGREEMENT, IN AC-
CORDANCE WITH LAW, WHICH SHALL SPECIFY
THAT:

(I) THE AMOUNT OF BONDS TO BE ISSUED ON
BEHALF OF SAID COUNTY, AS HEREIN PROVIDED,
SHALL BE REPAID, TOGETHER WITH INTEREST,
WITHIN FIFTEEN (15) YEARS FROM THEIR DATE
OR DATES OF ISSUE;

(II) EACH SUCH ISSUE OF BONDS UNDER THIS
SECTION, ON BEHALF OF ANY SUCH COUNTY,
SHALL FIRST BE APPROVED PRIOR TO THE SALE
THEREOF BY RESOLUTION OF THE BOARD OF
PUBLIC WORKS AS PROVIDED IN SECTION 162B OF
THIS SUB-TITLE;

(III) THE STATE COMPTROLLER SHALL BE AU-
THORIZED AND EMPOWERED TO WITHHOLD AND
DEPOSIT MONIES TO THE CREDIT OF A SINKING
FUND ESTABLISHED FOR THE PURPOSE OF PAY-
ING THE PRINCIPAL OF AND INTEREST ON SUCH
BONDS, FROM ANY AND ALL FUNDS ALLOCABLE
TO SUCH COUNTY UNDER SECTION 22 OF THIS