LLOYD LOWNDES, ESQUIRE, GOVERNOR.

SEC. 13. And be it enacted, That the money arising from
the sale of said municipal bonds of Annapolis, or said sum of

827

three thousand dollars ($3,000), if otherwise provided by said
Mayor, Counsellor and Aldermen, shall be paid to the treasurer
of said city, who shall keep the same entirely separate and dis-
tinct from other receipts of his office, and shall apply the same
solely to the erection and furnishing of said public school
building ; he shall keep a book, in which he shall enter a
registry of said bonds, it issued, the names of the purchasers
thereof, the amounts realized therefrom, and the payment,
redemption and cancellation of the bonds and their coupons,
respectively. He shall pay over the proceeds arising from the
sale of said bonds, if issued, to the order of said building com-
mittee, upon warrant drawn from a warrant book by said com-
mittee and numbered consecutively, and in no other manner;
and shall keep and render to said corporation of Annapolis, an
account of such of his receipts and disbursements, and the
balance in his hands on account thereof, at his regular monthly
accountings with said corporation. The coupon of said bonds
shall be receivable in payment of taxes of said city.

SEC. 14. And be it enacted, That for the purpose of more

Money to be
paid to
treasurer.

effectually securing the payment of said municipal bonds, if
issued, of the corporation of Annapolis at maturity thereof,
and the prompt payment of the interest thereon, the treasurer
of said city shall in each year set apart from the money collec-
ted by him under the annual levy of said city, a sufficient sum
to pay .the annual interest on said bonds then outstanding, and
also the sum of two hundred dollars ($200) ; said sum of two
hundred dollars ($200) per annum shall be deposited by him
at interest in the Annapolis Savings Institution to the credit of
a sinking fund for the redemption of said bonds at their
maturity, or when called for redemption by said Mayor, Coun-
sellor and Aldermen ; and the Mayor, Counsellor and Treas-
urer, for the time being, shall be commissioners of said fund,
and shall annually render a particular account to the corpora-
tion of said city, of the condition thereof, as required by the
existing laws and by the ordinances of said city ; any bonds of
said city purchased for said fund, shall be immediately can-
celled by stamping across their face and across the face of the
coupons thereof, ''purchased for the sinking fund" ; and no
portion of said sinking fund or of its increase, shall ever be
directed to any other purpose than to the purchase or redemp-
tion of said bonds.

Certain sum
set apart.