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Session Laws, 1892
Volume 397, Page 677   View pdf image (33K)
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FRANK BROWN, ESQUIRE, GOVERNOR.

677

upon the purchase of any of such bonds or the redemption


of the same at maturity by the county commissioners, they


shall be immediately cancelled by stamping across their face


"Cancelled by the Sinking Fund," and no portion of said


sinking fund so levied for shall ever be diverted to any other


purpose than to the purchase and liquidation of said bonds.


And should the said county commissioners or an other per-


son having charge of said sinking fund suffer or permit the


same or any part thereof be diverted from or applied to any


other purpose than the investment thereof for the purchase


of said bonds and the purchase and redemption of the same


then the person or party so offending shall be deemed guilty


of a misdemeanor and on conviction thereof shall be subject


to a fine of not less than the amount so misapplied or


diverted.


SEC. 9. And be it enacted, That from the money collected


each year on account of taxes by the treasurer ; the said sum


of one thousand dollars shall be set apart for said sinking

Account

fund and a separate account of the same be kept by the

be kept by
treasurer.

treasurer and deposited to the credit of said fund, and no


part of which shall be chargeable with insolvencies allowed


the treasurer on account of failure of assessment or col-


lections.


SEC. 10. And be it enacted, That the money arising from


sales of said bonds as provided in section six of this act shall

Bonds

be paid to the treasurer of said county, who shall keep in a

sold.

book for the purpose, a full registry of the bonds sold, the


different series, the numbers of the bonds and the names of


the purchasers and amounts realized on sales and any trans-


fers or assignment of the same.


SEC. 11 . And be it enacted, That the fund realized from


the sale of said bonds shall be applied to the purposes set


forth in this act and shall be paid by the treasurer upon

Paid
by the

the order of the county commissioners as other county

treasurer.

funds are paid out, and the said county commissioners are


hereby authorized and directed to pay to the contractor or


contractors employed by the said building committee in


accordance with the terms of their said contract upon the


warrant of said building committee, such sum or sums of


money as shall be certified in such warrants that such con-


tractor or contractors are entitled to in the performance of


the contract and shall pay upon the warrant of said build-


ing committee the cost of plans and specifications of the


work proposed to be done ; the salary of the supervising


architect and such other expenses that said building com-


mittee may properly have incurred in the discharge of their




 
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Session Laws, 1892
Volume 397, Page 677   View pdf image (33K)
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