1678

LAWS OF MARYLAND

Ch. 608

SUBHEADING, to the end that bonds issued pursuant to said
[§ 1991 §11 and bonds issued pursuant to [§ 192 of this
article] §4 OF THIS SUBHEADING shall be issued in
accordance with a uniform procedure and shall have
substantially the same formal characteristics and
incidents. In addition, authority is hereby
specifically conferred on the Commission to issue
temporary or interim bonds or certificates, in such form
or tenor as the Commission may determine, in anticipation
of and exchangeable for the definitive bonds authorized
by said [§ 199] §11, and authority is also specifically
conferred hereby on the Commission to make appropriate
provisions for the replacement of any lost or mutilated
bonds or temporary certificates. In neither case shall
the exercise of any such authority constitute a breach of
any of the limitations contained in [§ 200] §12 of this
subheading.

§17. [§ 204.] Use of proceeds of sale.

The proceeds of each series of the bonds sold
pursuant to the authority of [§ 199] §11 of this
subheading shall be paid to the State Treasurer and shall
be paid out from time to time by the State Treasurer upon
the orders of the Commission and upon warrants of the
State Comptroller, for the following purposes: (a) The
portion of said proceeds representing accrued interest
shall be deposited in the sinking fund provided for in [§
209] §20 of this subheading for application on account of
the first installment of interest due on such bonds; (b)
the portion of said proceeds representing any premium
received on the sale of said bonds shall likewise be
deposited in said sinking fund for application on account
of the first installment of the maturing principal of
such bonds; (c) there shall be payable from said proceeds
the cost of engraving, printing, advertising, attorneys'
fees and other outlays with respect to the issuance of
said bonds; (d) there shall be payable from said proceeds
an appropriate proportion, as determined by the
Commission, of any fees, salaries or expenses of private
accountants, attorneys, engineers, planners or other
professional assistants whom the Commission is hereby
authorized to retain for the purpose of assisting in the
financing, planning, highway construction and
reconstruction contemplated by this subheading; (e) there
shall be payable from said proceeds all or part of the
costs of constructing new roads as additions to the
primary or secondary systems of the State highway system,
reconstructing, rehabilitating or relocating existing
roads, already comprising parts of said system, the
acquisition of rights—of—way, easements or other
interests in real estate necessary to such construction
or reconstruction and the preparation of surveys, plans
and studies as may be necessary for such construction or
reconstruction or for the effective modernization of said
State highway system. Without limiting the generality
of the foregoing, said proceeds may be used to pay the
costs of all or a part of a project, as such term is