LLOYD LOWNDES, ESQUIRE, GOVERNOR.

able as follows : The first series five years after date ; the sec-
ond series ten years after date ; the third series fifteen years
after date; the fourth series twenty years after date; the fifth
series twenty-five years after date; and said bonds shall be
advertised and sold to the highest bidders for cash by the
School Commissioners; provided, said bonds shall not be sold
for less than their face value.

105

SEC. 8. And be it enacted, That for the purpose of redeem-
ing said bonds in their maturity and; for securing the prompt
payment of the interest thereon, the School Commissioners
and School Examiner of Prince George's county shall for the
year eighteen hundred and ninety-eight and annually thereafter
reserve a sufficient sum to pay the annual interest on said bonds,
and in addition thereto the sum of three hundred and thirty
three dollars and thirty-three cents of the principal of said
debt; and the interest on said bonds shall be received by the
treasurer of said county for taxes upon presentation of the
coupons of the current year, and the said coupons taken in
payment of taxes shall be accounted for to the County Com-
missioners by the said treasurer as other vouchers and payment
by him, and thereupon burned and destroyed by the County
Commissioners.
SEC. 9. And be it enacted. That the three hundred and thirty
dollars and thirty-three cents, annually reserved by the School
Commissioners and School Examiner of Prince George's county
and provided by the preceding section, to meet the said bonds

Redemption
of bonds.

issued by the County School Commissioners, as provided for in
this Act, shall be kept by them entirely separate and distinct
from the school funds. and shall be accounted for by him in
his annual statement to the School Commissioners, and shall
be held by said County School Commissioners as a sinking
fund for the redemption of said bonds at their maturity ; and
the said County School Examiner shall, from time to time,
deposit in some savings institution of the State of Maryland
on interest, for the benefit of said fund, all money belonging
to said sinking fund or in the purchase of any of said bonds
that may be offered for sale and redemption ; and upon the
purchase of any of such bonds or the redemption of the same
at maturity by the school examiner, they shall be immediately
cancelled by stamping across their face, cancelled by the sink-
ing fund ; and no portion of said sinking fund so set apart
shall ever be diverted to any other purpose than to the pur-
chase and liquidation of said bonds; and should the said school
examiner or any other person having charge of said sinking

Money
reserved to
meet said
bonds to be
kept sepa-
rate from
school
funds.