TREASURER. 1239

An. Code, 1924, sec. 28. 1912. sec. 28. 1904. sec. 28. 1890, ch: 571, sec. 28.
1916, ch. 601. 1935, ch. 30.

28. All bonds, certificates of stock and other securities purchased or
obtained by the treasurer for the use of the sinking fund, or transferred
and assigned to or deposited with the treasurer, in trust or otherwise, by
any corporation of this or any other State, or by any individual, pursuant
to any law or laws of this State, 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 Baltimore to be selected by the Treas-
urer 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 either the Governor, the
Comptroller or the Chief Deputy Comptroller, and on all occasions when
access to the same is necessary and the Treasurer is unable to attend in per-
son, the Chief Deputy Treasurer shall be entitled to have access thereto if
accompanied by either the Governor or Comptroller; 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 secu-
rities, 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.

32.

This section referred to in construing sec. 9 of art. 11 of the Code. Public
Indemnity Co. v. Page, 161 Md. 247.

Cited but not construed in Ghingher i. Pearson, 165 Md. 294.

Sinking Fund.

An. Code, 1924, art. 81, sec. 205. 1932. sec. 194. 1904. sec. 190. 1888, sec. 156.
1884, ch. 419. 1929. ch 226. sec. 38 (p. 722).

38. All monies remaining in the treasury of the State at the close of
each fiscal year, in excess of one hundred and fifty thousand dollars, and of
the sums required to meet the interest accruing due upon the public debt,
and the expenses of the State government defined by law shall be held by
the treasurer of the State to the credit of the general sinking fund of the
State, and shall be invested by the treasurer in the overdue obligations of
the State; and when the same are not procurable in the obligations of the
State not yet matured, or in the securities issued by the United States, or
in such other productive stocks or bonds as the treasurer, the governor and
comptroller concurring may consider safe and reliable; and the sum of one
hundred thousand dollars, which is directed to be set apart in each year
for the augmentation of the sinking fund, may be invested in the same man-
ner and under the same conditions by the said treasurer; and the invest-
ment so made shall be passed to the credit of the sinking fund.