Port Tobacco times, and Charles County advertiser. (Port Tobacco, Md.) 1845-1898, 1868-09-25
Il PUBLIC LOCALtLAWS,
.HHJC PASSED BY THE ssft5-t
GBIERh9 ASSEMBLY or MARYLAND
OBSERVATION-DISCLOSURES, 1868.


.aau3 AIANAur! 4 aaoy
To aid ID construction Of works Of Interna
ImpfSsernents Iin st. Mary's Charles and
Calvert Counties. far. v.-.
WHEREAs, By Section thirty-four of thy
third Article Of the Constitution, authorize
is given to extend the aid of the State in be-
half of the construction of works of internal
Improvements in the counties of st. Mary's
Charles and Calvert, which said counties
have heretofore received no direct benefit
from works heretofore aided by the State
aha whereas, 1T is deemed right and prope,
that such appropriation should be now made
therefore,
.SEcTIdr r.. Be 1t enacted by the General
Assembly Of Maryland, That the sum Of
five hundred thousand dollars be and the
SAME is hereby appropriated and set apart
for the construction of works of Internal In
provement in the said counties respectively as
follows: to Charles County, the sum Of one
hundred and seventy-fve thousand dollars ;
to st. Mary's County, the sum of one hun
dred and ,seventy-three thousand dollars /;
and to Calvert County, the sum of one hun
sdred and fty-two thousand dollars; and as
soon as it shall appear to the Treasurer OF
this State, by the affidavit of the Pres
kient Of any railroad company, now
chartered, or which may hereafter be char
tered lin said counties respectively, that
bona tde subscriptions to. the capital stock
Of any such company, equal in amount to
the sum by this. Act authorized and directed
to be given to such county, shall be actually
made either ia land or money, the Treasurer
of this State shall be and he is hereby au-
thorized and required, in the name and be-
half Of the State, upon the Recommendation
fof the County Commissioners of said county
making such application, to subscribe for so
many Shares Of theicapital stock Of the COM
'panyras shall amount to the sum which, by
this Act, Is distributed and applied to said
county, and the said Treasurer shall, out of
any Incorporated. money in the Treasury,
pay the installments on each share of the cap
ital stock of said company or companies,
for which be shall subscribe as aforesaid, on
the warrant Of the Comptroller, which the
latter officer is hereby directed to issue as the
said instalIments may be called for by the
County Commissioners of said county and
agreeable to the provisions of the Act incor-
iporating said company or companies; pro-
vided, that the Treasurer shall not at any
time pay upon the States subscription to the
capital stock of any of the said companies a
greater amount than shall have actually been
subscribed and paid, as required by this Act,
by other subscribers to the capital stock of
the said companies and, provided further,
+, that the said Treasurer shall not pay more
than one fourth Of the whole amount appro-
priated under this Act in any one year. ~
SEC. q. .And be, 1t enacted, That if the
whole or any portion of the fund appro-
priated by this Act shall not be demanded,
according to the provisions of this Act, by
any of the counties referred to, that then, and
III that case, the aforesaid FIVE hundred thou
sand dollars set apart and intended to be APP
Piled tor works Of Internal Improvements in
said counties, shall be held sacred, and the
faith of the State pledged that the said
amount shall be exclusively devoted to works
of Internal Improvements in said counties,
and subject to the opposition Of any future
Legislation of this State. ;. a
SEC. 3. Ind be 1t enacted, That when a
demand shall be made for any portion of the
Aforesaid sum of FIVE hundred thousand dol
liars, and ia the judgment of the Treasurer
the condition of the Treasury should require
Ii II shall be the duty of the Treasurer, and
he. is, hereby authorized, to cause bonds of
Tia State of !, Maryland, not exceeding the
Iamdunt Of one hundred and twenty-five
Thousand dollars in any one year, in denom-
nations Of not more than five hundred dol
lameech, and. bearing coupons for interest
payable semi-annually at six per cent. inter-
est, to be issued in the usual form, and pro-
posals for the sale of the said bonds, made
by advertisement, in such papers as he may
select.
SEE. 4. And be It enacted, That for the
paJmentsof the interest and the redemption
Of the principal, Of the said bonds when due,
there. shall be levied upon the assesssble
property Of the State, a tax of one cent on
nths hundred dollars, to- be collected as other
taxes are now collected, and the proceeds of
.,,said tax shall be paid to the Treasurer of the
State aud be by him set apart for the pay
-mei,t of the interest and for the REDEEM ption
.eethe. principal of said bonds, andlshe shall
invest The surplus Of receipts from the said
tax, after paying interest as a sinking fund
for the redemption Of said bonds. / ,,,;..rt.5
1olSEc. .5.,.And,be 1t, enacted, That the said
bonds shall be- redeemable in fifteen years
from the date Of the issue of the said bonds.
aApproved March 80, 1865,
sslrls ,srs,lns .r,,. THOMAS SWAMI, -.
Ha,g iss ixr B.. tii3 yuG - :,]t' G0UernOr.
i....-..-2 .-.2.