1444                             Laws of Maryland                      [Ch. 501

therefrom, in such manner as will best promote the usefulness of the
library, provided, however, that the application of the proceeds,
interests, rents, and profits accruing therefrom shall be according to
the terms and conditions of the gifts, donations, devises, bequests,
and legacies. The treasurer of the board of library trustees must
be adequately bonded.

(10)    To provide for at least an annual audit of its business and
financial transactions and of the accounts of its treasurer by an
accountant or accountants, approved by the State Super-
intendent of Schools. The results of this audit shall be made public
by the board of library trustees.

(11)    To make an annual report to the local governing body and
the State Superintendent of Schools by November 1st each year. The
report shall contain a statement showing the various sums of money
received from the library fund and other sources, and the item-
ized expenditures, the number of books, periodicals, and any other
information the State Department of Education shall prescribe.

(12)    To recommend to the local governing body the purchase,
condemnation, rental, use, sale or conveyance of real and personal
property, for any purpose valid under this subtitle;

(13)    To select the location of and make or approve plans for
the erection of library buildings thereon subject to the approval of
the local governing body;

(14)    To enter into contracts for any library service with any
private party or other library, governmental unit, or cooperative
library service center; and

(15)    To perform all other acts necessary for the proper control
and development of the library.

177.

(c) Amount to be paid localities.—The Public Library Incentive
Fund to be included in the State budget and paid to the board of
county commissioners, county council, or the mayor and city council
of Baltimore, shall be the difference between (1) the sum of fifty
cents (50¢) multiplied by the population in each county or Baltimore
City, the population figures used in such determination to be based
on the latest federal census and in intervening years, on estimates
of the Division of Vital Statistics of the State Department of Health,
as of April 1 of the previous calendar year, and (2) the amount
realized by the levy of one-half cent (½¢) in each of the counties
and Baltimore City for the purposes specified in subsection (a)
of this section.

If the board of county commissioners, county council, or the mayor
and city council of Baltimore levy only a fractional part of one-
half cent (½¢) for the purposes specified in subsection (a) of this
section, the Public Library Incentive Fund shall be an amount equal
to the difference between (1) the same fractional part of fifty cents
(50¢) multiplied by the population in each county or Baltimore
City as defined in subsection (c) of this section, and (2) the amount
realized from the levy of the fractional part of one-half cent (½¢)
as set forth in [the] subsection (b) of this section.