776 LAWS OF MARYLAND. [CH. 322

554 of the Acts of the General Assembly of Maryland of 1916,
in excess of the sum of One Hundred Thousand ($100,000.00)
Dollars.

SEC. 6. And be it further enacted, That the Board of Edu-
cation of Prince George's County is hereby authorized and
directed to retain each and every year from the sums of money
paid to them by the County Commissioners of Prince George's
County a sufficient amount of money to meet the interest and
to create a sinking fund to pay the principal of said bonds as
they mature, until the last of said bonds issued under this Act
shall have been paid and cancelled.

SEC. 7. And be it further enacted, That the bonds issued
under this Act shall be dated the first day of January, 1919,
and be payable as to principal in Thirty-five years from the
date of their issue; and said bonds shall be advertised for sale
in two daily newspapers published in the City of Baltimore to
be selected by the Board of Education of Prince George's
County and sold to the highest bidder for cash, by the Board
of Education of Prince George's County.

SEC. 8. And be it further enacted, That the Board of Edu-
cation of Prince George's County shall annually deposit in
some saving institution in the State of Maryland, on interest,
a sufficient amount of money to create a sinking fund for the
redemption of said bonds at their maturity, and are hereby
authorized and empowered to purchase from the proceeds of
said sinking fund any of said bonds as may be offered for
sale; and upon the purchase of any of said bonds, or the re-
demption of the same at maturity, the Board of Education
shall have the said bond or bonds immediately cancelled by
stamping across their face the word "Cancelled," and no por-
tion of said sinking fund, so set apart, shall ever be diverted
to any other purpose than to the purchase and liquidation of
said bonds; and should the County Superintendent of schools,
or the Board of Education, 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 the investment thereof for the purchase of said bonds, and
the purchase and redemption of the same; then the person or
parties so offending shall be deemed guilty of a misdemeanor,
and upon conviction thereof shall be subjected to a fine of not
lees than twice the amount so misapplied or diverted or to con-
finement in the House of Correction for not more than one
year or both such fine and imprisonment.