804                                LAWS OF MARYLAND                        [CH. 492

procedures of public sale. Before concluding a negotiated sale, how-
ever, the Commission shall negotiate with at least two recognized
banking institutions which generally purchase bond anticipation
notes and obtain the terms most favorable in the Commission's in-
terest. Further, any bond anticipation notes sold at a negotiated sale
shall mature within a period of not exceeding sixty (60) days and
may be renewed not more than one time for an additional similar
maximum period.

(c) Such bond anticipation notes shall be payable from the pro-
ceeds of the bonds in anticipation of which they shall be issued, but
the Commission may, in its discretion, in lieu of retiring such notes
by means of bonds, retire the notes from any funds available for the
payment of such bonds authorized by the Commission, in which
event the amount of such bonds so authorized shall be reduced by the
amount of such notes so retired. Bond anticipation notes issued
under this authority shall be general obligations of the District for
which the full faith, credit and taxing power of the District shall
be pledged and shall be guaranteed as to payment of principal and
interest by the County Council of Montgomery County and by the
County Commissioners of Prince George's County, and the County
Council of Montgomery County and the County Commissioners of
Prince George's County are hereby authorized and directed to guar-
antee such notes substantially in the manner and form and with the
effect provided for the guarantee of the construction bonds of the
Washington Suburban Sanitary District. The Commission may,
however, at its option, waive the guarantee by the counties herein
prescribed. Bond anticipation notes issued under the provisions
hereof, including interest thereon, shall be forever exempt from
taxation by the State of Maryland and by the counties and municipali-
ties in said State.

Sec. 2. And be it further enacted, That this Act shall take effect
June 1, 1966.

Approved April 29, 1966.

CHAPTER 492
(House Bill 995)

AN ACT to repeal Section 205 of the Code of Public Local Laws of
Harford County, (1965 Edition, being Article 13 of the Code of
Public Local Laws of Maryland), title "Harford County," subtitle
"County Commissioners," and to enact new Section 205 in lieu
thereof, to stand in the place of the section so repealed, creating
the office of Director of Administration of Harford County; mak-
ing general provision for the appointment powers, functions and
duties of this officer and the operation of his office; making pro-
vision for a Finance FISCAL Officer to handle, under the direction
of the Director of Administration, certain of the financial and
fiscal duties of the director; making provisions for the appointment
of an Acting Director of Administration in case of a temporary
vacancy in that position; providing for the duties and powers of the
County Commissioners of Harford County in relation to the position
of Director of Administration; abolishing the present office of