The Cecil Whig., 1916-06-24

7 deposited to the credit of said sinking
| fund shall be drawn only on cheques
| signed by the president of the Board
of County Commissioners and the
County Treasurer; and said sinking
| fund may be used at any time III the
purchase and redemption Of any If
said bonds, when the purchase price
| shall secure rate of interest greater
than that paid by the depository or
| repositories wherein the said money
shall be deposited; and after the pur-
chase and redemption of any such
bonds by the said County Commits
! sioners from the deposits to the credit
Of the sinking fund, the same shall be
Immediately destroyed, and no por-
| ton of the said sinking fund shall he
diverted TO any other purpose than
| liquidation of said bonds; and should
said County Commissioners or any
| other person having charge of said
sinking fund suffer the same to be
diverted or applied to any other pur-
pose than the purchase or redemption
| of the said bonds, at or before the ma
| turity thereof then such members of
the Board of County Commissioners
who shall, by their vote, agree to such
| diversion, sh al be deemed guilty of
misdemeanor and shall be subject to
| fine of not less than the amount ap-
piled or diverted. and upon failure to
| pay said fine and costs. may. in the
discretion of the court trying the case,
be committed to Jail until said fine
| and costs are paid.
| Saptipp And ha II aoaptad Thot
the monies arising from the sale of
said bonds shall be paid to the joint
order of the president of the Board of
| County Commissioners of Ceci! county
and the treasurer thereof; and the
said treasurer shall keep in a book,
to be provided for this purpose, fully
registry of the bonds sold, the differ
| ent series, serial numbers of the bonds
and names of the purchasers. the
| amount realized therefor and all
the deposits of the purchase money
immediate purposes, be made in some
| savings institutions or trust company
under the same condition as herein
before required for the sinking fund
money and the interest thereon.
/
the bonds so to be issued shall be
designated as Bonds for the per-
manent improvement of public high
ways in Cecil county, and the fuH3s
arising therefrom shall not he used
for or diverted to any other purpose
under the penalty provided under the
next preceding section.
Section 9. And be it enacted, That
g. AZ
Cf the roads as aforesaid. there shall
| &n auXiliarv bord, consisting of
four citizens Of Cecil county,. namely.
Warren J. Haines, Irving G. Griffith,
John F. Johnson and John H. kimbie,
to confer and act with the Board of
County Commissioners as TO the pro
| per roads to be improved. ard the
/ manner of their improvement. and
who shall advise with the said Boari
Of Cour,y commissioners as to th@
| character or the place Where the work
is to ue done. and also as to the let
ting Of contracts for such improve
mcpts. and the decision of ma 2iorisy
OF said TWO boards in Joint session
nal be final as to the places ard
manner Of said Improvements. The
sand auxiliary board 80 appointed
shall receive no compensation other
than their personal expenses. OF
which they shall monthly render an
account to the County Commission
crs Of said county. who shall there
upon, Immediately pay the same in
cash.
Section 10, And be it enacted, That
whereas provision is hercnbefore
made for a levy to pay the interest
upon said bonds. if the County Com
missioners shall determine that tue
same can be paid out of the general
fund provided for county highways,
they shall not be required to make
special levy for said interest, 1ut
may, in their discretion, pay it from
the general fund provided for high
ways or out of their contingent fund
Section II. And be it enacted. That
the fund arising from the sale of he
bonds for the permanent improve
ments of the public highways shall be
spent Ev the County Commissioners
and said auxiliary board in the build
ing and repair of the permanent roads
as their best judgment shall dictate.
looking however to the interests of all
the citizens of the county.
Approved: April IS, 1916.
EMERSON c. HARRINGTON,
Governor.
PHILIP y. LAIRD,
Speaker Of the House Of Delegates.
PETER J. CAMPBELL.
President Of The Senate.