1338                             Laws of Maryland                       [Ch. 746

time the Commission may deem necessary to carry out the provisions
of this sub-title. The Secretary-Treasurer, if any, appointed by the
Commission shall be the collector of all charges and assessments
made by the Commission, and shall receive and account for all moneys
which shall be due and payable to said Commission from any source
whatsoever. All moneys deposited shall be protected by a depository
bond, or by such other securities as may be approved by the said
Commission. The Secretary-Treasurer shall give bond to the State
of Maryland to the amount of $10,000.00 with a good and sufficient
surety to be approved by the said Commissioners, with the condition
"that if the above bounden shall well and faithfully execute his office
and shall account to the said Commission for all moneys which he
shall receive for account of the Commission, or be answerable for
by law, then the said obligation to be void, otherwise to be and remain
in full force and effect". The said bond, when approved, shall be
recorded in the office of the Clerk of the Circuit Court for Harford
County; and the person so appointed, before entering upon the duties
of his office shall take an oath before the Clerk of the Circuit Court
for said County, in form similar to that taken by collectors of taxes,
except as to the title of the office. The Commission is hereby empow-
ered to pay the premiums on all bonds. All checks issued by said
Commission shall be countersigned by the Chairman. The said Com-
mission shall annually have its accounts audited by a certified public
accountant, to be selected by said Commission, and paid by said
Commission, and publish a full, true and itemized account, under
oath, of its receipts and disbursements in a newspaper published in
said county.

430E. For the purpose of providing funds for the design, con-
struction, establishment, purchase or condemnation of water supply,
sewerage and drainage systems in any of the sanitary districts, said
Commission, after the approval of said County Commissioners, is
authorized and empowered to issue bonds, from time to time upon
the full faith and credit of Harford County, in such amounts as it
may deem to be necessary to carry on its work, but at no time shall
the total issue of bonds in any sanitary district for all purposes
under this sub-title exceed fifteen per centum of the total value of
the property assessed for county taxation purposes within said sani-
tary district. Subject to the conditions contained herein the form,
tenor, manner of selling and all other matters related to the issuance
of bonds under this Act shall be prescribed in a resolution to be
adopted by the Harford County Metropolitan Commission at least
fifteen days prior to sale of said bonds. If bonds are issued, the pro-
visions of Sections 32, 33 and 34 of Article 31 of the Annotated Code
of Maryland (1951 Edition) and amendments thereto, shall be com-
plied with. Said bonds shall be serial bonds issued upon serial matur-
ing plan and in such denominations as shall be determined by the
Commission, said bonds may be redeemable before maturity at the
option of the Commission at such price and under such terms and
conditions as may be fixed by the Commission prior to the issuance
of said bonds, shall bear interest at a rate not exceeding [four] six
per centum per annum, payable semi-annually, and shall mature in
not more than thirty years after date of issue and shall be forever
exempt from State, city and county taxation. They shall be issued
under the signature and seal of the Commission and shall be guaran-
teed as to payment of principal and interest by the County Commis-
sioners of Harford County, which guarantee shall be endorsed on