1262                             Laws of Maryland                       [Ch. 743

ment of interest when due and the principal at maturity is guar-
anteed by the County Commissioners of Washington County, Mary-
land". Such endorsement shall be signed on each of said bonds by
the chief executive officer [and by the Clerk or Secretary of the par-
ticular governing body] of the County, with the seal of the County
affixed thereto attested by the signature of the clerk of the County,
within ten days after the bonds are presented by the Commission to
[them] the County for such endorsement. At any time prior to the
issuance of any such bonds the [governing body of a particular
county is hereby authorized and directed to] County may, in ad-
dition to sums appropriated under Section 530(b) of this sub-title,
advance [furnish] to the Commission [a sum not exceeding Five
Thousand Dollars ($5,000.00] such sums as may be necessary to
cover the expense of issuance of such bonds and the expenses in-
curred under Section 533 of this sub-title, which shall be [repaid out
of the first available moneys derived from the sale of the first bonds
issued, if any] treated and repaid as part of the cost of the project
or projects financed with the proceeds of any such bonds.

(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 Commission may, by
appropriate resolution, apply such surplus to payment of the cost
of an additional project or projects or such surplus shall be used
for the retirement of bonds of such issue, as in the authorizing reso-
lution provided. In every case where the proceeds of any such issue
of bonds shall be expended for the cost of one or more projects,
whether or not in one or more subdistricts, the Commission shall
cause separate capital accounts to be created for each such project,
among which said bond proceeds shall be divided and from which
the separate costs of each such project shall be paid. As soon as
each such project is completed, the special assessments or other
charges imposed or made by the Commission with respect thereto
shall be calculated in such manner as to provide a proportion of the
annual debt service on said issue of bonds equal to the proportion
of the proceeds of said issue expended on such project.

[(c) Prior to the preparation of definitive bonds, the Commission
may, under like restrictions, issue interim receipts or temporary
bonds, with or without coupons, exchangeable for definitive bonds
which such bonds have been executed and are available for delivery.
The Commission may also provide for the replacement of any bonds
which shall become mutilated or be destroyed or lost. Bonds may be
issued under the provisions of this sub-title without obtaining the
approval or consent of any department, division, commission, board,
bureau or agency of the State of Maryland, and without any other
proceeding or the happening of any other condition or thing than
those proceedings, conditions or things which are specifically re-