466 LAWS OF MARYLAND. [CH. 228

SEC. 8. And be it enacted, That the Seven Hundred and
Fifty Dollars ($750. ) 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 C6mmissioners, 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 treas-
urer in his annual statement to the said Board of County School
Commissioners 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, Maryland, and the Annapolis Banking & Trust
Company, in equal quantities at three per cent, per annum
interest, for the benefit of said funds, 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 redemp-
tion 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. 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 the 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 committee
may direct, and be applied to the purposes set forth in this Act,
and shall be paid by the treasurer of the Board of County
School Commissioners upon the order of the building committee,
from a warrant especially authorized by the said treasurer of
said Board of County School Commissioners is hereby authorized