EMERSON C. HARRINGTON, GOVERNOR. 1133

School Commissioners and their treasurer shall, for the year
nineteen hundred and sixteen, and annually thereafter, reserve
a sufficient sum to pay the semi-annual interest on said bonds,
and in addition thereto the sum of two hundred and thirty
five dollars to meet the maturing principal of said debt.

SEC. 5. And be it enacted, That the two hundred and thirty
five dollars annually reserved by the said Board of County
School Commissioners and their treasurer, as provided by the
preceding Section to meet the said payments of said bonds is-
sued by the Board of County School Commissioners, as pro-
vided for in this Act, shall be kept by them entirely separate
and distinct from any other fund, and shall be accounted for
by said treasurer in his annual statement to the said Board of
County School Commissioners as a sinking fund for the re-
demption of said bonds at their maturity; and the said treas-
urer shall each year deposit in -the Farmers' National Bank of
Annapolis, Maryland, 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 to be diverted from or applied to any
other purpose than the investment thereof for the redemption
of the same, then the person or persons so offending shall be
deemed guilty of a misdemeanor; and on conviction thereof
shall be subject to a fine of not less than the amount so mis-
applied or diverted.

SEC. 6. And be it enacted j 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 ap-
plied to the payment of the interest and deposited to meet
the principal of said bonds at maturity, and no> part of which
shall be chargeable with insolvencies allowed the treasurer on
account of failure of collection.

' SEC. 7. And be it enacted, That the money arising from the
sales of the said bonds referred to in Section 3 of this Act, shall
be paid to the treasurer of said Board of County School Com-
missioners.

SEC. 8. And be it enacted, That the funds realized from
the sale of said bonds shall be applied to the purposes set forth
in this Act, and the treasurer of said Board of County School
Commissioners shall pay to the contractor or contractors em-