ALBERT C. RITCHIE, GOVERNOR. 1329

the Commissioners shall first pay all interest on said bonds as
it matures, and shall then deposit in some bank, or banks in
Baltimore County to the credit of the Commissioners, as a
fund to be known as the "Sinking Fund Account, " the amount
so raised for the payment of the principal of said bonds. The
monies in the Sinking Fund shall be kept entirely separate
from all other monies of the said Commissioners and of the
county, and the said Commissioners shall invest the monies in
the Sinking Fund in the purchase of any bonds issued under
this Act when they are obtainable at not exceeding one point
above the issue price or in bonds of the United States Govern-
ment or of the State of Maryland; and bonds issued under this
Act when purchased for the Sinking Fund shall not be can-
celled and destroyed, but shall be immediately stamped to show
that they belong to the Sinking Fund and shall be held and
treated as other outstanding bonds bearing interest, and the
interest thereon shall be paid into the Sinking Fund until their
maturity and at maturity they shall be cancelled at the same
time at which bonds of the same series outstanding in the
hands of the public are paid. The Commissioners shall have
power and authority to sell any United States or State of
Maryland bonds at any time in the Sinking Fund in order to
provide cash to pay any series of bonds issued under this Act
as they mature or to purchase with the proceeds bonds issued
under this Act whenever the Commissioners can in their judg-
ment make such a change of investment advantageously. The
provisions of this section shall not apply to the properties,
plants, franchises, and/or rights of the Mayor and City Coun-
cil of Baltimore or to any properties, plants, franchises and/or
rights that may be hereafter acquired by the Mayor and City
Council of Baltimore for the protection, or enlargement of its
water supply, sewerage, stormwater drainage or refuse disposal
systems or any other of its utility properties.

SEC. 11. And be it further enacted, That, for the purpose
of providing for the organization and preliminary expenses of
the Commissioners, the sum of $25, 000 shall be provided by
the issuance of notes, or some other form of certificates of in-
debtedness, the issuance whereof is hereby expressly author-
ized, which said sum shall be repaid to the County Commis-
sioners out of the first issue of Metropolitan District bonds.

SEC. 12. And be it further enacted, That no water supply,
sewerage or storm-water drainage system, or any part or ap-
purtenance thereof, or no water main, sewer or drain, or con-