LLOYD LOWNDES, ESQUIRE, GOVERNOR.

sioners of Anne Arundel county shall be kept by them entirely
separate and distinct from the school funds, and shall be
accounted for by the examiner in his annual statement to the
County Commissioners of Anne Arundel county, and shall be
held by said County Commissioners as a sinking fund for the
redemption of said bonds at the time or times of their maturity;
and the said county school examiner shall from time to time in
each year deposit in the Annapolis Savings Institution on inter-
est, for the benefit of said fund, all moneys belonging to said
sinking fund, to be used in the purchase of said bonds, or any
of them that may be offered for sale, and for the redemption
of said bonds at maturity ; 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 stamp-
ing across them and upon each coupon thereof "Cancelled by
the sinking fund," and no portion of said sinking fund so set
apart shall ever be diverted to any other purpose than the pur-
chase and liquidation or redemption of the said bonds; and
should the said school examiner or any other person having
charge of the sinking fund suffer or permit the same or any
part thereof to be diverted from or applied to any other pur-
pose than the investment thereof for the purchase of said
bonds, and the purchase and redemption of the same, then the
person or persons so offending shall be deemed guilty of a mis-
demeanor, and on conviction thereof shall be subject to a fine
of not less than the amount so misapplied or diverted, or to
imprisonment in the Maryland Penitentiary for a period of not
less than six months nor more than three years, or to both such
fine and imprisonment, in the discretion of the court.

SEC. 9. And be it enacted, That the examiner shall keep a

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separate account of the money collected each year by him for
and applied toward the payment of the interest and deposited
to meet the principal of said bonds at maturity, and no part
thereof shall be chargeable with insolvencies allowed the treas-
urer on account of failure of assessments or collections.

Keep a
separate
account.

SEC. 10. And be it enacted, That the money arising from
the sale of said bonds, as provided in section 4 of this Act,
shall be paid to the school examiner and treasurer of the School
Commissioners of Anne Arundel 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.

Money paid
to school
examiner.