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The Annotated Code of the Public Civil Laws of Maryland, 1911
Volume 372, Page 2169   View pdf image (33K)
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ART. 95] SINKING FUND. 2169

year for the augmentation of the sinking fund may be invested in the
same manner and under the same conditions by the treasurer; every
bond, certificate of stock or other security purchased for the sinking
fund under the provisions of this article, and every coupon attached
thereto shall at once be distinguished and identified by the treasurer
in the presence of the comptroller by stamping in red ink across the
face thereof the words ''purchased for the sinking fund," and also,
except in case of coupons, by writing thereon in red ink the date of
its purchase and the signature of the treasurer; all securities purchased
for the sinking fund shall be held by the treasurer to the credit of said
fund in manner as prescribed by section 28 of this article, and the
interest and coupons on all such securities maturing at a future day
shall accrue to and be regularly and promptly collected for and credited
to the sinking fund until such time as such securities shall mature and
be redeemed respectively, or until the general assembly shall dispose
of the same, or, in case of overdue securities of this State, until the
same shall be burned by the finance committee and the ways and means
committee as prescribed by section 23 of this article.
See art. 81, sec. 194.

1904, art. 95, sec. 27. 1888, art 95. sec. 27. 1872, ch. 276, sec. 6.

27. The comptroller is hereby directed to draw his warrant on the
treasurer for the payment of the bonds or certificates so taken up or
purchased under the provisions of this article

Ibid. sec. 28. 1890, ch. 571, sec. 28.

28. All bonds, certificates of stock and other securities purchased or
obtained by the treasurer for the use of the sinking fund, and all bonds,
certificates of stock and other securities belonging to the State shall be
deposited and kept in some safe deposit company in the city of Balti-
more to be selected by the treasurer with the approval of the board of
public works; the treasurer alone shall not be entitled to have access to
the box, boxes, vault or vaults, where such securities shall be kept, but
on all occasions when access to the same is to be had by him he shall be
accompanied by the comptroller or by some other members of the board
of public works designated by the governor for that purpose; in case
the comptroller be unable to attend in any particular case, the box or
boxes, vault or vaults, where such securities shall be kept shall be so
constructed that two entirely different keys shall be required to gain
access to said securities, one of which keys for each such box or vault
shall be in the custody of the treasurer and the other in that of -the
comptroller.

Ibid. sec. 29. 1890, ch. 571, sec. 29.

29. The treasurer of the State and the comptroller of the treasury
shall each forthwith procure a properly bound book to be used for the

 

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The Annotated Code of the Public Civil Laws of Maryland, 1911
Volume 372, Page 2169   View pdf image (33K)
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