The aegis & intelligencer. [volume] (Bel Air, Md.) 1864-1923, 1868-05-01
AN ACT
GCHAPTER 235.1

To amend an act passed January session eighteen
hundred and sixty-6ye, chapter thirty-three,
entitled an act to provide bounty for soldiers
entering the service of the United States, to
fill the quotas of Maryland under the call Of
the President Of the United States, of the
nineteenth of December, 1864, and under fu-
ture calls, by amending and re-enacting sec
lions four, five and six, which were repealed
or intended to be repealed by the act of efghteen
hundred and sixty-seven, chapter one hundred
and fiIty-six, and by adding new section
and by changing the numbering Of section
nine.
SEC. l. BE it enacted by the General Assembly
of Maryland, That sections four, five and six, of
chapter thirty-three, passed January session,
eighteen hundred and sixty-fve, be amended
and re-enacted to read as follows
2 4. And be it enacted, That for the purpose
of meeting the expenses to be incurred under
this act fund is hereby created to be called
the Defence Loan, and the Treasurer of the State
is hereby authorized, under he direction of the
Governor, to issue bonds or certificates of debt
which said bonds or certificates of debt shall be
exempt from State, county and municipal taxa
ton, countersigned by the Comptroller, bearing
interest at six per centum. per annum, payable
81 mi annually on the first day of January and
July in each year, and redeemable in not less
than ten nor more than fifteen years at the pleas
ure of the State, in the name and on behalf of
the State of Maryland, to an amount not exceed
ing four millions of dollars, or so much thereof
as may be necessary, ana the proceeds of such
bonds or certificates SO issued shall be passed to
the credit Of said Defence Loan, and the same
is hereby appropriated for the purpose of pay
ing oil liabilities incurred or to he incu red I'M
der the provisions CT this act, and the Treasurer
| of the State Is hereby authorized under the di-
rection of the Governor TO invest In the bonds
| to be issued as aforesaid, one million of dollars
of the interest of the sinking fund, or more if in
their discretion advisable, or of any other fund
or surplusages in the Treasury not otherwise ap-
propriated, and that all payments made by or on
account of the purchasers of the bonds or certi-
ficates OF debt issued under the provisions of this
bill, shall be made to the Treasurer on the
warrant of the Comptroller, and all certificates
of debt or bonds so issued, shall be signed BY
the treasurer and countersigned by the Comp
troller.
8. And be it enacted, That special tax of
FIVE and half cents be and the same is hereby
levied, on every one hundred dollars worth of
the taxable property of this State, to meet the
interest aid create q sinking fund for the re-
demption of the bonds or certificates of debt here
in directed TO be issued, and the tax shall be an
nually levied, collected and paid over to the
State Treasury until the debt created by this act
snali nave Deeb pdlu, ana separate and dis
tinct account shall be kept thereof and the pro-
ceeds thereof are hereby pledged to the payment
of the interest and principal of the said bonds or
certificates of debt.
3 6. And be it enacted, That no further bonds
or certificates Of debt under the act of eighteen
hundred and sixty-four, chapter fifteen, shall be
issued.
Sec. 8. And be it enacted That all persons
having claims against the State for bounty, un-
der any law making provision therefor shall
present the same to the Comptroller of the Treas
ury for payment, on or before the first day of
September, eighteen hundred and sixty-eieght,
or otherwise be excluded from all benefits there.
of.
Sec. 10. And be it enacted, That the Treas
urer be and he is hereby authorized from the
proceeds of any sales of bonds which may be
made under the provisions of this act, to re-im-
burse the Treasury for such advances from the
General Revenue accruing from taxes and other
sources, as have been appropriated from time to
to time towards the payment of bounties, the
sum to be applied to the general wants of the
Treasury.
SEC. And be it enacted, That this Act shall
take effect from the date Gifts passage.
Approved March %, 1868.
THOMAS SWAMI,
myl-lt Governor.