SPIRO T. AGNEW, Governor                      1195

SUCH BONDS, ISSUE BOND ANTICIPATION NOTES PURSU-
ANT TO THE AUTHORITY OF, AND IN THE MANNER PRE-
SCRIBED BY, SECTION 12 OF ARTICLE 31 OF THE ANNO-
TATED CODE OF MARYLAND (1967 REPLACEMENT VOL-
UME). WITH RESPECT TO ANY SUCH BONDS, COUPONS,
TEMPORARY BONDS, RECEIPTS OR BOND ANTICIPATION
NOTES, WHICH HAVE MATURED, BEEN EXCHANGED OR
REDEEMED, THE COMMISSION SHALL MAKE ARRANGE-
MENTS FOR THE MUTILATION AND CREMATION OF ANY
SUCH INSTRUMENTS AFTER AN APPROPRIATE ACCOUNT-
ING THEREFOR. THE COMMISSION MAY ALSO PROVIDE
FOR THE REPLACEMENT OF ANY SUCH INSTRUMENTS
WHICH SHALL BECOME MUTILATED OR BE DESTROYED
OR LOST, UPON RECEIPT OF SUCH INDEMNIFICATION,
AND THE PAYMENT OF THE EXPENSES OF REPLACE-
MENT AS THE COMMISSION, IN ITS DISCRETION, MAY
DEEM PROPER OR REQUISITE. BONDS MAY BE ISSUED
UNDER THE PROVISIONS OF THIS SUBHEADING WITHOUT
OBTAINING THE APPROVAL OR CONSENT OF ANY DIVI-
SION, COMMISSION, BOARD, BUREAU OR AGENCY OF THE
STATE OF MARYLAND AND, EXCEPT AS PROVIDED IN
SECTION 10A-16 OF THIS SUBHEADING, WITHOUT ANY
OTHER PROCEEDING OR THE HAPPENING OF ANY OTHER
CONDITION OR THING THAN THOSE PROCEEDINGS, CON-
DITIONS OR THINGS WHICH ARE SPECIFICALLY RE-
QUIRED BY THIS SUBHEADING. IF THE COMMISSION
SHALL PROVIDE FOR THE EXECUTION OF ANY SUCH
BONDS IN FACSIMILE, IT SHALL COMPLY WITH THE PRO-
VISIONS OF SECTIONS 13 TO 18, INCLUSIVE, OF ARTICLE
31 OF THE ANNOTATED CODE OF MARYLAND (1967 RE-
PLACEMENT VOLUME). ALL BOND PROCEEDS, AS WELL
AS ALL MONEY HELD IN SINKING OR RESERVE FUNDS IN
THE NAME OF THE COMMISSION SHALL BE INVESTED BY
THE COMMISSION IN THE MANNER PRESCRIBED BY SEC-
TION 22 OF ARTICLE 95 OF THE ANNOTATED CODE OF
MARYLAND (1964 REPLACEMENT VOLUME).

10A17. 19.

(a)  For the purpose of paying the interest on and principal of
the bonds issued by said Commission as in this subheading provided
for the water supply, sewerage, or drainage systems to be con-
structed, purchased, or established under this subheading, the Com-
mission may fix an annual assessment on all properties, improved
or unimproved, binding upon a street, road, lane, alley, or right-of-
way in which a water main, sewer, or drain has been built. The
annual assessment shall be made upon the front foot basis, and the
first payment shall be collected during the year in which the con-
struction is completed on the water supply, sewerage, or drainage
systems, or in which the systems are purchased or acquired. All
sums collected by the Commission for benefits levied against the
property for water, sewerage, or drainage construction shall be set
aside as a separate fund to be known and designated as the Front
Foot Benefit Assessment Fund.

(b)   The Commission for the purpose of assessing benefits shall
divide all properties binding upon a street, road, lane, alley, or right-
of-way, in which a water pipe or sanitary sewer is to be laid, into