proper Auditor, all moneys paid into the Treasury of the State;
shall pay interest on certain bonds as they become due and
payable; shall be the custodian of bonds held by the Commissioners
of the Sinking Fund, and of bonds deposited by foreign express and
insurance companies doing business in the State; shall make
quarterly and annual reports to the Governor.

The treasurer is the person who receives and takes charge of money
belonging to the State. The building in which the money is kept
and in which the treasurer has his office is called the treasury.
The treasurer also disburses money. To disburse is to pay out, and
the treasurer cannot disburse without a warrant from the auditor
(see next section).

The warrant is a writing giving the treasurer power to pay money.
The treasurer pays the interest on State bonds. A bond is a
written paper by which a person binds or pledges himself to pay a
certain sum of money before a certain day. Sometimes the
government has to borrow money, and when it does so it issues
bonds to the persons who loan the money. In these bonds the
government binds itself to pay the money by a certain time, and to
pay a certain amount every year as interest until the principal
(the full amount borrowed) is paid back.

The sinking fund is money set apart at certain times to pay the
debts due by the government. It is in charge of officers called
commissioners. These commissioners hold bonds for debts due to the
government on account of the sale of public lands, and the
interest of the State in railroads and other corporations. Express
companies and insurance companies whose head-quarters are in