852 LAWS OF MARYLAND. [CH. 437

entirely separate and distinct from any other funds, 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 redemption of said bonds at their maturity; and
the said treasurer 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 belong-
ing to the sinking fund; and no portion of said sinking fund so
set apart shall ever be diverted 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 per-
mit the same or any part thereof to be diverted from or applied
to any other purpose than the investment thereof for the re-
demption 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 misapplied or diverted.

SEC. 6. 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 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 ac-
count 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 Commissioners.

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-
ployed by said Board of County School Commissioners, in
accordance with the terms of their said contract or contracts,
and by order of said Board of County School Commissioners,
any such sum or sums as such contractor or contractors are
entitled to in the performance of the contract or contracts;
and no part of said proceeds of sale of said bonds shall be
paid out by said treasurer, except by direction of said Board
of County School Commissioners.

SEC. 9. And be it enacted, That the Board of County
School Commissioners shall, as speedily as possible, procure