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Funding bonds
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hundred dollars to provide a sinking fund for the payment of
said bonds as they mature and become payable; and the said
Commissioners of Cambridge shall invest the said sums so
annually set apart to provide a sinking fund for the payment
of said bonds in first mortgages on real estate located in
Dorchester County, in Maryland, State bonds, or in bonds
issued by Dorchester County , or instead of investing the same
as aforesaid, said annual sum of five hundred dollars may be
applied to the payment and satisfaction of any bonds issued
under the authority of this sub-section by the said Commis-
sioners of Cambridge, which the commissioners are entitled to
pay off, or which the parties holding the same are willing to sur-
render on being paid therefor. A separate account shall be
kept of said bonds, to be called "The Cambridge Bonded
Debt Account," and of the said sinking fund; and the moneys
appropriated as a sinking fund shall under no circumstances
be used or appropriated for any other purposes whatsoever,
and shall not be expended by the commissioners for any cause
or object other than to pay off or take up the bonds issued
under the authority of this sub-section; and if the commis-
sioners shall neglect or refuse to set apart the sum of five
hundred dollars in each year as aforesaid to provide a sinking
fund, or shall appropriate or expend the said funds, or any
part thereof, for any purposes whatever except for the purpose
of taking up or paying off the bonds hereby authorized to be
issued, each and every one of said commissioners who con-
sent to the omission to set apart said sinking fund, or to the
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Penalty.
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misappropriation of the moneys belonging to said sinking
fund, shall be guilty of misdemeanor, and shall be fined or
imprisoned in the county jail on conviction thereof as the
court or justice of the peace trying the case shall determine;
provided that no commissioner shall be fined more than one
hundred dollars, or to be imprisoned more than six months
for each and every offense. All fines imposed under this sub-
section shall be paid to the treasurer of said town, to be used
for the corporate purposes of said town.
SEC. 3. Be it further enacted, That this Act shall take
effect from the date of its passage.
Approved March 13, 1900.
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