1192                             LAWS OF MARYLAND                        CH. 609

CENTLY CONCLUDED. The Commission may pay the interest on
any bonds it issues out of the proceeds of the sale of the bonds, but
not more than one year's interest may be so expended.

(b)  Subject to the conditions contained herein the form, tenor,
manner of selling, and all other matters relating to the issuance of
bonds under this subheading shall be prescribed in a resolution to be
adopted by the Frederick County Metropolitan Commission at least
fifteen days prior to sale of the bonds. If bonds are issued, the pro-
visions of Sections 9, 10, 11 and 12 of Article 31 of the Annotated
Code of Maryland (1967 Replacement Volume and 1967 Supplement)
and amendments thereto, shall be complied with. The bonds shall be
serial bonds issued upon serial maturing plan and in such denomina-
tions as may be determined by the Commission. The 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 the bonds, shall bear interest
at a rate not exceeding six per centum per annum, payable semi-
annually, shall mature in not more than thirty years after date of
issue, and shall be forever exempt from State, city, and county tax-
ation. They shall be issued under the signature and seal of the Com-
mission and shall be guaranteed as to payment of principal and
interest by the County Commissioners of Frederick County, 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 Frederick County, Maryland." Such en-
dorsement shall be signed on each of the bonds by the President or
Vice-President of the Board of County Commissioners of the county
, WITH THE SEAL OF THE COUNTY AFFIXED THERETO
ATTESTED BY THE SIGNATURE OF THE CLERK TO SAID
COUNTY COMMISSIONERS within ten days after the bonds are
presented by the Commission to them for endorsement.

(c)  In the event that the funds available to the Frederick County
Metropolitan Commission from all sources are insufficient to pay any
bonds issued hereunder, together with the interest due thereon, the
County Commissioners of Frederick County in each and every fiscal
year in which bonds are outstanding shall levy and collect ad valorem
taxes upon all the assessable property within the corporate limits
of Frederick County in rate and amount sufficient to provide for
such payments when due, together with accrued interest to the. date
of payment. In the event the proceeds from the taxes so levied in
any fiscal year are inadequate for the above purposes, the County
Commissioners of Frederick County shall levy additional taxes in
the succeeding fiscal year to make up any deficiency.

10A-17.

FOR THE PURPOSE OF PROVIDING FUNDS FOR THE DE-
SIGN, CONSTRUCTION, ESTABLISHMENT, PURCHASE, OR
CONDEMNATION OF WATER SUPPLY, SEWERAGE AND
DRAINAGE SYSTEMS IN FREDERICK COUNTY PURSUANT
TO THIS SUBHEADING, THE COMMISSION IS HEREBY
AUTHORIZED AND EMPOWERED, IN ADDITION TO THE
AUTHORITY AND POWER CONFERRED BY SECTION 10A-16
OF THIS SUBHEADING, AFTER THE APPROVAL OF THE
BOARD OF COUNTY COMMISSIONERS OF FREDERICK
COUNTY, TO BORROW MONEY IN SUCH AMOUNTS AS MAY