844 LAWS OF MARYLAND. [CH. 448

all land and improvements and any other property assessed for
county tax purposes in Montgomery County within said Dis-
trict, which tax shall be levied and collected, and have the same
priority rights, bear the same interest and penalties and in
every respect be treated the same as county taxes. The tax so
levied for the ensuing year shall be collected by the tax collect-
ing authorities and every sixty days they shall remit the whole
amount of the tax so collected to the said Commission. From
the money so received, together with the amount in hand to the
credit of said bond fund, said Commission shall first pay all
interest on said bonds as it matures, and shall then deposit in
some bank or banks in Montgomery County to the credit of the
County Commissioners of Montgomery County and said Com-
mission, as a joint fund, to be known as the "Sinking Fund
Account, " the amount so raised for payment of the principal of
said bonds. Said Commission and the said County Commis-
sioners shall, from time to time, invest said Sinking Fund in
any bond or bonds in which savings or trust funds are author-
ized to be invested by National Banks by the United States
Treasury Department, Should receipts from said tax or other
sources be inadequate to deposit the principal payment on said
bonds, by reason of defaults or otherwise, said deficiency shall
be added to and collected in the next year's tax. The said Com-
mission is authorized to pay the interest on any bonds it may
issue prior to the first tax levying period out of the proceeds of
the sale of said bonds. In order that the prompt payment of
interest and the proper provision for the payment of the prin-
cipal of said bonds shall be assured, the prompt and proper per-
formance of the respective acts and duties heretofore defined is
specifically enjoined, and any failure upon the part of any per-
son, persons, body corporate or agent to perform the necessary
acts and duties hereafter set forth, to pay over the said funds as
required or to use said funds or any part thereof for any other
purpose than for the payment of the principal and interest on
said bonds, is hereby declared a misdemeanor and punishable
as other misdemeanors are punishable under Section 18 of this
Act. In the event that the amount necessary to be levied in
any year on the assessable property within that portion of
the District within Montgomery County to pay the interest
and principal on such bonds as may be issued does not require
a levy of a tax of seven cents on each $100. 00 of assessable
property, then the County Commissioners of Montgomery
County are authorized and directed to levy a tax of seven
cents on each $100. 00 of assessable property within that por-