LLOYD LOWNDES, ESQUIRE, GOVERNOR.

479

SEC. 9. And be it enacted, That the money arising from the
sales of said bonds, as provided in section six of this act, shall
be paid to the school examiner of said county, who shall keep
in a book for that purpose, a registry of the bonds, and the
names of the purchasers and the amounts realized, and the
payment of the coupons, and redemption and cancellation of
the principal thereof.

Registry of
bonds.

SEC. 10. 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 to no other purpose; and shall be paid by the
school examiner, upon the order of the said building com-
mittee, from a warrant book especially authorized by said
committee, with said warrants numbered consecutively; and
the said building committee is hereby authorized and directed
to pay the contractor or contractors employed by said
building committee, in accordance with the terms of their said
contract, upon the warant of said building committee, such
cum or sums of money as shall be certified in such warrants,
that such contractor or contractors are entitled to, in the per-
formance of the contract; and shall pay, upon the warrant of
said building committee, the cost of plans and specifications
of the work proposed to be done, the salary or commissions of
the supervising architect, and such other expenses as said
building committee may properly have incurred in the dis-
charge of its duty; and no part of said proceeds of sale of
said bonds shall be paid out by said school examiner, except
on the warrant of said building committee.

Proceeds of
sale of bonds

SEC. 11. And be it enacted, That for the purpose of con
tributing toward the erection and furnishing of said school
building, the Mayor, Counsellor, and Alderman of the city of
Annapolis be and they are hereby authorized and directed to
issue bonds, in the name of the city of Annapolis, to an amount
not exceeding six thousand dollars ($6,000); such bonds shall
be issued in sums of not less than one hundred, nor more than
one thousand dollars each; and each bond shall be dated the
first day of July, eighteen hundred and ninety-six, and shall be
payable twenty years after date thereof to the bearer, and shall
be redeemable at the pleasure of said Mayor, Counsellor, and
Alderman of the city of Annapolis, at any time after the ex-
piration of five years from the common date thereof; they
shall bear interest at the rate five per centum per annum, pay-
able semi-annually on the first day of January and July in
each year until paid, for which semi-annual interest, propel
interest coupons shall be attached to said bonds, signed by the

Issue of bonds
by city of
Annapolis.