EMERSON C. HARRINGTON, GOVERNOR. 567

sessable property of said City sufficient to pay the interest
thereon and the further sum of One Thousand ($1,000.00) Dol-
lars for the payment of the principal of said debt then next
maturing, in addition to the general levy provided for in Sec-
tion 77 of this Act. The said sum of One Thousand ($1,000.00)
Dollars shall be held and invested by the Commissioners of
Ellicott City as a sinking fund for the redemption of these
bonds at maturity; and said Commissioners of Ellicott City
shall, from time to time, deposit the money belonging to said
sinking fund and the increment thereof in some safe depository
which pays interest on deposits, or shall invest the same in State
or other bonds <snch as are accepted by Equity Courts for the
investment of trust funds, as to them may seem best, or in the
purchase or redemption of any of said bonds issued under the
provisions of this Act as may be offered for sale or redemption;
and, upon the purchase or redemption of any of said bonds, the
said Commissioners of Ellicott City shall immediately cancel
same by marking across their face '' cancelled by sinking fund.''
No portion of said sinking fund so levied shall ever be diverted
to any other purpose except the purchase and liquidation of
said bonds. Out of the taxes collected each year by the City
Registrar, there shall be set aside the sum of One Thousand
($1,000.00) Dollars for said sinking fund, and no part of the
same shall be charged 'with any insolvency on account of the
failure of assessments or collections.

SEC. 81-X. That the money arising from the sale of said bonds,
which bonds shall be sold at public auction or by sealed bids,
after due advertisement, to the highest responsible bidder, shall
be deposited in some bank or banks to the credit of the Com-
missioners of Ellicott City, subject to their check; and the Reg-
istrar of said Ellicott City shall keep in a book especially pro-
vided for that purpose the names and addresses of the pur-
chasers of the bonds sold and the amount realized from the
sale of said bonds, together with the serial numbers of the bonds.
The funds realized from the sale or sales of said bonds shall be
applied to the purpose of this Act, and shall be withdrawn from
said bank or banks 'by a cheek or checks signed by the President
of the Commissioners of Ellicott City and countersigned by the
City Registrar; and the said Commissioners of Ellicott City
are 'hereby authorized to pass such orders for the payment of
money due for the construction of said electric light plant, or
to the contractor or contractors for such construction as shall be
due from time to time, or earned by the contractor in the pros-