468 LAWS OF MARYLAND.

SEC. 8. And be it enacted, That the Seven Hundred and
Fifty Dollars annually reserved by the said Board of County
School Commissioners and their treasurer, as provided by the
preceding Section to meet the said bonds issued by the said
Board of County School Commissioners, as provided for in this.
Act, shall be kept by them entirely separate and distinct from any
other funds, and shall be accounted for by said treasurer in his an-
nual statement to the said Board of County School Commission-
ers as a sinking fund for the redemption of said bonds at their
maturity; and the said treasurer shall from time to time deposit
the same in the Farmers' National Bank, of Annapolis, Mary-
land, and the Annapolis Banking & Trust Company, in equal
quantities at three per cent, per annum interest, for the benefit
of said fund, all moneys belonging to the sinking fund; and no
portion of said sinking fund so set apart shall ever be directed
to any other purpose than to the liquidation of said bonds; and
should the treasurer or any other person having charge of said
sinking fund suffer or permit the same or any part thereof ta
be diverted from or applied to any other purpose than the in-
vestment thereof for the redemption of the same, then the per-
son or persons so offending shall be deemed guilty of a misde-
meanor, and on conviction thereof shall be subject to a fine of
not less than the amount so misapplied or diverted.

SEC. 9. And be it enacted, That the said Treasurer of the
Board of County School Commissioners shall keep a separate
account of the money collected each year by him for and applied
to the payment of the interest and deposited to meet the prin-
cipal of said bonds at maturity, and no part of which shall be
chargeable with insolvencies allowed the treasurer on account of
failure of collections.

SEC. 10. And be it enacted, That the money arising from
the sales of the said bonds referred to in Section 6 of this Act,
shall be paid to the treasurer of said Board of County School
Commissioners.

SEC. 11. And be it enacted, That the funds realized from
the sale of said bonds shall be deposited as said building com-
mittee may direct, and be applied to the purposes set forth in
this Act, and shall be paid by the treasurer of said Board of
County School Commissioners upon the order of the building
committee, from a warrant especially authorized by said treas-
urer of said Board of County School Commissioners is hereby
authorized and directed to pay to the contractor or contractors;