J. MILLARD TAWES, GOVERNOR                           1077

signature and seal of the [Commission] District and shall be
guaranteed as to payment of principal and interest by the county
or counties in which said District lies, which guarantee shall be
endorsed on each of said bonds in the following language: "The
payment of interest when due and the principal at maturity is
guaranteed by ..... (corporate name of body politic and corporate
guaranteeing the bonds) ..... , Maryland". Such endorsement shall
be signed on each of said bonds by the chief executive officer (or
other officer designated by resolution of the particular governing
body) and by the Clerk or Secretary of the particular governing
body or bodies within ten days after the bonds are presented by the
Commission to them for endorsement. In the event the bonds are
guaranteed by two or more counties pursuant to the provisions of
this sub-title, the liability of any one county so guaranteeing the
bonds shall be in such proportion as the assessable basis of that part
of such county within the sanitary district or sanitary districts for
which the bonds are issued bears to the assessable basis of the whole
of the sanitary district or sanitary districts for which the bonds
are issued. SUCH BONDS, SO ENDORSED, SHALL BE, AND
THEY SHALL SO RECITE, UNCONDITIONAL GENERAL OBLI-
GATIONS OF THE COUNTY OR COUNTIES ENDORSING THE
SAME; AND THIS ACT SHALL BE CONSTRUED AS A SPE-
CIFIC GRANT OF AUTHORITY TO ANY COUNTY TO ISSUE
AND SELL SUCH BONDS IN THE MANNER HEREIN PRE-
SCRIBED. At any time prior to the issuance of any such bonds the
governing body of a particular county is hereby authorized and
directed to furnish to the Commission a sum not exceeding Twenty-
Five Thousand Dollars ($25,000.00) which shall be repaid out of the
first available moneys derived from the sale of the first bonds issued,
if any.

(b)   The proceeds of such, bonds shall be used solely for the pay-
ment of the cost of the project or projects on account of which such
bonds are issued and shall be disbursed in such manner and under
such restrictions, if any, as the Commission may provide in the
authorizing resolution. If the proceeds of such bonds, by error of
estimates or otherwise, shall be less than such cost, additional bonds
may in like manner be issued to provide the amount of such deficit,
and, unless otherwise provided in the authorizing resolution shall be
deemed to be of the same issue and shall be entitled to payment from
the same fund without preference or priority of the bonds first issued
for the same purpose. If the proceeds of the bonds of any issue
shall exceed the amount required for the purpose for which such
bonds shall have been issued, the surplus shall be used for: (a) the
retirement of bonds of such issue, as in the authorizing resolution
provide [s.] d, or, in the absence of such provision, (b) shall be
applied to the next maturing principal payment on such bonds; or
(c) shall, upon adoption of a resolution by the Commission, be used
for other projects within the sanitary district or districts for which
such bonds were issued; or (d) shall be used to purchase the bonds of
the same issue or series on the open market for such price as it may
determine to be for the best interests of the District and the county
or counties to be served thereby, provided that no premium in excess
of Five per centum of the par value of such bonds shall be paid on
the purchase of such bonds; bonds so purchased shall be cancelled.

(c)  Prior to the preparation of definitive bonds, the Commission
may, under like restrictions, in the name of such District, issue