970                         LAWS OF MARYLAND.                  [CH. 386

bank or banks in the county furnishing said bond or bonds
hereunder. The bond or bonds so given by such individuals as
sureties shall provide that, in the event of the failure or insol-
vency of the bank liable as principal on said bonds, the sure-
ties thereon shall not be liable until after the liquidation of the
bank and the determination of the actual liability thereon.

All interest so received by the treasurer on county funds
shall be segregated by him into a special fund and each year,
prior to the making up of the annual levy by the County Com-
missioners, the treasurer shall make report of such sum to the
County Commissioners, who shall deduct the sum so received
from the total amount to be levied upon the assessments of
property of Montgomery County for the ensuing year, and the
said sum shall be thereafter allocated to the payment of ex-
penses of Montgomery County: first, to the payment of the
salary of employees in the office of the County Treasurer; next
to the payment of salaries of the employees in the office of the
clerk to the County Commissioners, and any balance still re-
maining toward the payment of interest on obligations of the
county or toward the contingent fund of the county for which
the County Commissioners are authorized to levy on the taxable
property of Montgomery County.

SEC. 2. And be it further enacted, That this Act shall take
effect June 1, 1931.

Approved April 17, 1931.

CHAPTER 386.

AN ACT to authorize the Board of County Commissioners
of Washington County to borrow upon the faith and credit
of said county to the amount of $10, 000. 00 and to issue and
sell coupon bonds therefor, the proceeds thereof to be used
for erecting an addition to Sandy Hook School and for
equipping and furnishing same, and to provide for the pay-
ment of interest on said bonds and of the principal thereof
by the levy of taxes.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That the Board of County Commissioners of Wash-
ington County be and they are hereby authorized and directed
to issue serial coupon bonds on the faith and credit of said
county to the amount of $10, 000. 00, par value, said bonds to