Marvin Mandel, Governor                         693

urer shall set apart any premium received on the sale of any issue
of said bonds which shall be used for the purpose of paying the
principal thereof at maturity or on prior redemption. The entire
balance of said proceeds shall be retained by the County Treasurer
until needed to pay for the purposes specified in Section 1 hereof.
Said payments for the aforesaid purposes, and for no other purposes,
shall be made from time to time by the County Treasurer to the
Board of Education of Cecil County upon the order of the County
Commissioners of Cecil County. Said County Commissioners shall
not issue any such order except upon written notification from said
Board of Education that in its best judgment and discretion an ex-
penditure for any of the aforesaid purposes is necessary, such noti-
fication setting forth the approximate amount of each expenditure
and the specific use to be made of it, said Board of Education shall
receive and expend the money so paid to it only for the purposes
authorized by Section 1 hereof, and said Board shall account for
said money so paid to it and the expenditures thereof in the same
manner as it accounts for other moneys passing through its hands.

Sec. 5. And be it further enacted, That for the purpose of paying
the maturing principal of and interest on any bonds issued pursuant
to the authority of this Act, and for the purpose of redeeming
said bonds prior to their respective maturities, the County Com-
missioners of Cecil County shall levy annually upon all property
within the corporate limits of said County, assessable for unlimited
taxation, ad valorem taxes in rate and amount sufficient to provide
for said purposes. In the event any such issue of bonds are sold as
term bonds, payable all at one time, said County Commissioners of
Cecil County shall, by the resolution authorizing said bonds, establish
a sinking fund in the custody and control of the County Treasurer,
and thereafter said County shall annually levy the ad valorem taxes
above prescribed in rate and amount sufficient to pay the interest
on said bonds, due in each year, and sufficient to pay into such
sinking fund annual deposits which, together with any earnings of
such sinking funds or increments thereon, will be sufficient to provide
for the payment in full of the principal of said term bonds at
maturity. In addition, the County Commissioners of Cecil County
is hereby authorized and empowered to utilize for the payment of
any such principal and interest any part not previously pledged of
any moneys received by the Board of Education of Cecil County from
the State of Maryland under the provisions of Section 130 of Article
77 of the Annotated Code of Maryland (1969 Replacement Volume)
providing for an incentive fund for school construction, as such
section may be amended from time to time.

Sec. 2. And be it further enacted, That this Act shall take effect
July 1, 1971.

Approved April 29, 1971

CHAPTER 338
(House Bill 1176)

AN ACT to add new Section 22A to Article 16 of the Annotated
Code of Maryland (1966 Replacement Volume and 1970 Supple-