EMERSON C. HARRINGTON, GOVERNOR. 1081

SEC. 6. And be it enacted, That the money for the sinking
fund levied annually as provided in the preceding section shall
be deposited by the County Commissioners in some saving in-
stitution or trust company paying interest thereon, and they
shall require from such saving institution or trust company
a good and sufficient bond in the penalty of no less than ten
per cent, above the amount of money so deposited; and the
money so deposited to the credit of said sinking fund shall be
drawn only on cheques signed by the president of the Board
of County Commissioners and the County Treasurer; and said
sinking fund may be used at any time in the purchase and
redemption of any of said bonds, when the purchase price
shall secure a rate of interest greater than that paid by the
depository or depositories wherein the said money shall be
deposited; and after the purchase and redemption of any such
bonds by the said County Commissioners from the deposits to
the credit of the sinking fund, the same shall be immediately
destroyed, and no portion of the said sinking fund shall be
diverted to any other purpose than liquidation of said bonds;
and should said County Commissioners or any other person
having charge of said sinking fund suffer the same to be di-
verted or applied to any other purpose than the purchase or
redemption of the said bonds, at or before the maturity there-
of then such members of the Board of County Commissioners
who shall, by their vote, agree to such diversion, shall be deemed
guilty of a misdemeanor, and shall be subject to a fine of not
less than the amount applied or diverted, and upon failure to
pay said fine and costs, may, in the discretion of the court try-
ing the case, be committed to jail until said fine and costs are
paid.

SEC. 7. And be it enacted, That the monies arising from
the sale of said bonds shall be paid to the joint order of the
president of the Board of County Commissioners of Cecil
County and the treasurer thereof; and the said treasurer shall
keep in a book, to be provided for this purpose, a full registry
of the bonds sold, the different series, serial numbers of the
bonds and names of the purchasers, the amount realized there-
for and all transfers or assignments thereof; and the deposits
of the purchase money for said bonds shall, when not used for
immediate purposes, be made in some savings institutions or
trust company under the same condition as hereinbefore re-
quired for the sinking fund money and the interest thereon.