292

LAWS OF MARYLAND.

a justice of the peace, as other fines are recoverable, one-half
of such fine to go to the informer, and the balance to the
Mayor and Council of Rockville, for the purposes of this act.

Tax to pay
Interest
and princi-
pal of
bonds.

SEC. 5. And be it enacted, That for the purpose of redeem-
ing said bonds at their maturity, and for securing the prompt
payment of the interest thereon, the Mayor and Council of
Rockville shall, for the year of the issue of said bonds, and
annually thereafter, until the maturity of said bonds, levy a
tax on the assessable property of said town sufficient to pay
the interest thereon, and in addition thereto the sum of six hun-
dred and fifty dollars of the principal of said debt for the pay-
ment of the same at maturity. The said sum of six hundred and
fifty dollars, shall be held and invested by Mayor and Council of
Rockville as a sinking fund for the redemption of said bonds
at their maturity; and the said Mayor and Council shall, from
time to time, deposit the money belonging to said sinking fund
and the increment thereof, in some safe depository which pays
interest on deposits, or shall invest the same in State, county or
municipal bonds or in such other safe investments as to them
may seem best, or in the purchase and redemption of any of
said bonds, as may be offered for sale and redemption. And
upon the purchase of any such bonds by the said Mayor and
Council, 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 liqui-
dation of said bonds. And should the said Mayor and Council
or any other 'person having charge of said sinking fund, suf-
fer or permit the same or any par.t thereof to be diverted from
or applied to any other purpose than the investment for the
purchase and redemption of said bonds, the 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. The money collected each year by the
bailiff on account of taxes to the extent of the said sum of six
hundred and fifty dollars shall be set apart for said sinking
fund, and a separate account be kept by the Mayor and Coun-
cil and deposited to the credit of said fnnd, and no part of
which shall be chargeable with insolvencies on sccount of fail-
ure of assessment or collections.

Proceeds
from sale of
bonds.

SEC. 6. And be it enacted, That the money arising from the
sale of said bonds (which said bonds shall be sold either at
auction or by sealed bids, after due advertisement thereof, to the
highest responsible bidders), shall be paid to the Mayor and