ART. 95. ] TREASURER. 165

ARTICLE XCV,

TREASURER.

31. Treasurer, subject to the directions of the board of public works, may
sell securities in the sinking fund; investment of proceeds of sale;
how securities shall be stamped.

1906, ch. 186.

31. Whenever, in the judgment of the board of public works,
the public interests will be subserved thereby, the said board
of public works shall direct the treasurer to sell any of the
securities constituting a part of any of the sinking funds of the
State. If the proceeds of such sale be not required to pay a
debt of the State due or about to become due, then the treas-
urer shall invest such proceeds of sale in such other securities
for the sinking fund as the board of public works may direct
and approve. Both in selling the securities directed to be
disposed of, and in purchasing the securities directed to be
substituted therefor in the sinking fund, the treasurer shall
proceed in the manner and subject to the regulations and direc-
tions which the board of public works may from time to time
prescribe. If any of the securities so sold by the treasurer
shall have words "purchased for the sinking fund" written or
stamped upon them, the treasurer, before delivering the same
to the purchaser thereof, shall cause the words " sold by
order of the board of public works, dated this —— day of
———, " to be written or stamped on said securities. And the
said securities when so delivered to the purchaser shall be
negotiable to the same extent as if there had never been written
or stamped upon them the words " purchased for the sinking
fund. "

Approved March 27, 1906.