HERBERT R. O'CONOR, GOVERNOR. 649

Michaels, or otherwise of the proposed revision of rates and
grant such hearings, when practicable, as may be desired by
the citizens.

(c) The Commission shall elect one of their number Presi-
dent, and also a Secretary and a Treasurer, either or both of
the last named may or not be members of said Commission, and
the same person may hold both offices and shall serve for one
year, or until the appointment and qualification of his or their
successor or successors. No bills or expenses incurred in the
management and operation of said plant or system shall be
paid except by check of the Treasurer countersigned by a
member of the Commission after said bills, except authorized
weekly payrolls and minor expenses of the plants, shall have
been approved and ordered paid by the Commission. The
Treasurer shall have charge of all revenues arising from the
system under the control of the Commission, but all bank
accounts of such funds shall be in the name and to the credit
of the Utilities Commission of St. Michaels. He shall keep
a separate and accurate account of all receipts and disburse-
ments and shall annually on or before the first day of Febru-
ary make a complete and detailed report for the fiscal year,
which shall begin on January 1st, and end on December 31st,
of each year, which shall be audited by a Certified Public Ac-
countant, as designated by the Commissioners of St. Michaels
and the expenses of such audit to be borne and paid for by the
Utilities Commission of St. Michaels. The Treasurer shall
furnish and give any information desired and shall give bond
for the faithful performance of his duties, as the Commis-
sioners of St. Michaels shall require, the cost of which shall be
paid by the Commission and at the expiration of his term of
office shall turn over all money, books and papers belonging to
his office to his successor.

489. The said St. Michaels Utilities Commission are hereby
required to apply all revenues from the electric plant or system
to pay the expenses of properly keeping up and operating said
plant or system, and after deducting the amount of charges to
the Commissioners of St. Michaels for electric light and power
pay the balance of the net profits to the Commissioners of St.
Michaels and the Commissioners of St. Michaels shall add said
profits to the "St. Michaels Improvement Fund", except the
sum of Five Thousand ($5, 000. 00) Dollars which shall be re-
tained by the Utilities Commissioners as an operating fund

489A. The Utilities Commission is hereby authorized and di-
rected to set up a Sinking Fund of Sixty Thousand ($60, 000. 00)
Dollars from cash now on deposit, to be known as a fund for
electric utility purposes only and to be invested by the Com-
missioners of St. Michaels in United States or State of Mary-