8

LAWS OF MARYLAND.

CHAP. 5.

required, will produce a sufficient fund for the payment of
the principal of said bonds as the same may become due and
payable; provided, that after the present bonded indebtedness
of said county authorized by chapter 407 of the Acts of
Assembly, passed in 1894, has been extinguished, that the
balance of the money that may be in the hands of the County
Commissioners derived from the sale of liquor licenses in
said county, together with the amount of money that may be
thereafter annually received by said County Commissioners
from said licenses, shall first be applied to the payment of the
interest and principal of the bunds authorized by this Act,

Sinking fund.

and for the purpose of creating a sinking fund for the pay-
ment of said bonds at their maturity, any amount of money
that may be in the hands of said County Commissioners,
derived either from said liquor licenses or from a levy upon
the assessable property of said county, authorized by this Act,
which may not at the time be necessary for the payment of
the interest or principal of said bonds, shall be invested
either in securities of the United States, the State of Mary-
land, or any county thereof, the city of Baltimore, or in the
purchase and cancellation of the bonds authorized by this Act,
or the said money may be deposited in some national bank,
savings bank, trust company or other banking institution, at
such rate of interest on said deposit as may be agreed upon
by said County Commissioners, and said bank, trust company
or banking institution ; provided, that said money, where so

Proviso.

deposited, shall not be withdrawn except upon an order
signed by the president of said board of County Commis-
sioners and countersigned by their clerk in pursuance of
authority granted by said board.
SEC. 5. And be it enacted, That this Act shall take effect
from the date of its passage.
Approved February 13, 1902.