WILLIAM DONALD SCHAEFER, Governor Ch. 815

(c)  On presentation of a release of any lien of the Service
OR MUNICIPALITY, the clerk of the proper court in which the lien
is recorded and indexed shall record and index the release and
shall note in the lien docket the date the release is filed and
the fact that the lien is released.

(d)  The clerk of the proper court shall provide a suitable
well-bound book, at the expense of the county or city, to be
called the environmental service lien docket, in which the
notices of liens shall be recorded and indexed. The clerk may not
collect more than $2 for recording and indexing each lien or
release of any lien.

[3-127.] 3-126.

(a)  The Service may provide for the creation, continuation,
and administration of whatever funds may be required. Money in
these funds and other money of the Service shall be deposited, as
directed by the Service, in any State or national bank, or
federally [or State] insured savings and loan associations
[located in the State] having a total paid-in capital of at least
$1,000,000 OR IN ANY FINANCIAL INSTITUTION IN WHICH THE STATE
TREASURER IS AUTHORIZED TO DEPOSIT STATE FUNDS. The trust
department of any State or national bank or savings and loan
association may be designated as a depository to receive any
securities acquired or owned by the Service. The restriction with
respect to paid-in capital may be waived for any qualifying bank
or savings and loan association which agrees to pledge securities
of the State or of the United States to protect the funds and
securities of the Service in amounts and under arrangements
acceptable to the Service.

(b)  Any money of the Service, in its discretion and unless
otherwise provided in any agreement or covenant between the
Service and the holders of any of its obligations limiting or
restricting classes of investments, may be invested in:

(1)   [bonds] BONDS or other obligations of, or
guaranteed as to principal and interest by, the United States or
the State or its political subdivisions or units; OR

(2)  ANY OTHER OBLIGATION OR SECURITY IN WHICH THE
STATE TREASURER MAY INVEST UNDER § 6-222 OF THE STATE FINANCE AND
PROCUREMENT ARTICLE.

(c)  The Service shall make provision for a system of
financial accounting, controls, audits, and reports. All
accounting systems and records, auditing procedures and
standards, and financial reporting shall conform to generally
accepted principles of governmental accounting. The Service shall
adopt the fiscal year of July 1 to June 30, designate the
necessary funds for complete accountability, and specify the
basis of accounting for each fund.

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