582 LAWS OF MARYLAND. [CH. 289

however, at any time when the sinking fund hereby provided
and the increment of interest thereon reaches the sum of seven
hundred dollars or over, redeem any of said bonds that may be
offered for redemption to the amount of the sinking fund at
the time of such offer. Any bond or bonds so presented for
redemption and accepted and paid by the Board of County
School Commissioners, and all of said bonds are paid at ma-
turity, shall be stamped "Cancelled by the sinking fund. " The
Treasurer of said Board shall preserve separate and distinct
from all other funds in his custody the sinking fund hereby
provided, and the same shall be kept on deposit at interest, as
the said Board may direct, after having ascertained the best
rate of interest obtainable for the term of the bonds. No por-
tion of said sinking fund shall ever be expended for or diverted
to any other purpose than the liquidation of said bonds by the
said Treasurer or other person having charge of the fund,
under penalty of a fine of not less than the full amount mis-
applied or diverted. Upon conviction in the Circuit Court of
Somerset County of such misapplication or diversion, the same
being by this Act made a misdemeanor. The said Treasurer
shall keep a separate account of the money coming into his
hands each year and applied to the payment of the semi-annual
interest and deposited to meet the principal of said bonds, the
said money shall not be chargeable with insolvencies or other
deductions by the Treasurer of Somerset County. The inter-
est on said bonds shall be received by the Treasurer of Somerset
County for taxes upon presentation of the coupons for the cur-
rent year, and coupons so taken in payment of taxes shall be
accounted for to the County Commissioners by him as other
vouchers and payments by the said Treasurer, and thereupon
burned and destroyed by the County Commissioners.

SEC. 4. And be it further enacted, That the proceed of
the said bonds shall be used by the said Board of County School
Commissioners in the purchase of a lot and the erection of a
suitable school building for primary and high school of not
less than four rooms, and for the furnishing and heating of the
same, which said school building shall be located as near as
possible on the public road leading through Mt. Vernon Dis-
trict, midway between Schools Nos. One and Two.

SEC. 5. And be it enacted, That as soon as said new school
building is ready for occupancy, the said Board of County
School Commissioners shall dispose of the buildings and the