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CHAP. 269
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coupons taken in payment of taxes or paid in cash shall be
accounted for to the County Commissioners by the said
treasurer as other vouchers of payment by him, and there-
upon burned and destroyed.
SEC. 7. And be it enacted, That the nineteen hundred
dollars annually levied for as provided in the preceding
section shall be held and invested by said County Commis-
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Sinking fund.
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sioners as a sinking fund for the redemption of said bonds
at their maturity; and the said County Commissioners shall
from time to time invest the moneys belonging to said sink-
ing fund in any safe investment or in the purchase of any of
said bonds that may be offered for sale and redemption, and
upon the purchase of any 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 shall ever be diverted to any other
purpose than to the purchase and liquidation of said bonds ;
and should the said County Commissioners or any other
person having charge of said sinking fund suffer or permit
the same or any part thereof to be diverted from or applied
to any other purpose than investment thereof for the pur-
chase of said bonds and the purchase and redemption of the
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Guilty of mis-
demeanor.
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same, then the person or persons 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 mis-
applied or diverted.
SEC. 8. And be it enacted, That from the money collected
each year on account of the taxes by the said treasurer the
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Bum of money
set apart for
sinking fund.
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said sum of nineteen hundred dollars shall be set apart for
said sinking fund and a separate account of the same be
kept by the treasurer and deposited to the credit of said
fund by the County Commissioners in the name and to
the credit of the County Commissioners of Anne Arundel
county in the Annapolis Savings Institution and the
Annapolis Banking and Trust Company, in equal amounts,
and to bear interest at the rate of not less than three per
centum and to be paid and checked out in equal amounts
upon each of the said banking institutions, and so as to have
on deposit in each of the same, from time to time, an equal
amount as near as may be, and no part of which shall be
chargeable with insolvencies allowed the treasurer on account
of failure of assessment or collections.
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