Port Tobacco times, and Charles County advertiser. (Port Tobacco, Md.) 1845-1898, 1868-09-03

PUBLIC LOCAL LAWS,
PASSED BY THE
GENERAL ASSEMBLY OF MARYLAlD.
AT THE JANUARY SESSION, 1868.
AN ACT
To aid in construction of works Of Internal
Improvements in st. Mary's, Charles and
Calvert Counties
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
and whereas, it is deemed right and proper
that such appropriation should be now made;
therefore.
SECTION /. Be it 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 I'm
provement in the said counties respectively as
follows: to Charles County, the sum of one
hundred and seventy-6ve thousand dollars;
to st. Marys County, the sum Of one hun
dred and seventy-three thousand dollars;
and to Calvert County, the sum of one hum
dred and fity-two thousand dollars; and as
soon as it shall appear to the Treasurer Of
this State. by the affidavit of the Pres
ident Of. any railroad company, now
chartered, or which may hereafter be char
,,nfio .s,n1x, hat
bona .fle 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 in land or money, the Treasurer
of this State shall be and he is hereby au-
thorized aud required, in the name and be-
half of the State, upon the recommendation
Of the County Commissioners of said county
making such application, to subscribe for SO
many shares of the capital stock of the COM
pany as shall amount to the sum which, by
this Act, is distributed and applied to said
county, and the said Treasurer shall, out of
any unapproprated money in the Treasury,
pay the installments on each share Of the cap
ital stock of said com pany or companies,
for which he shall subscribe as aforesaid, Oh
the warrant Of the Comptroller, which the
latter officer is hereby directed to issue as the
said installments may be called for by tho
County Commissioners of, said comfy and
agreeable to the provisions of the Act incor-
porating 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
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-fourthl of the whole amount appru,
priated under this Act in any one year.
SEC 2. Ard be 1t enacted, That II 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 10, that then, and
in that case, the aforesaid GIVE hundred thou-
sand dollars set apart, and in ended to sbesap-
piled to works Of Internal Improvements 10
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 ia said counties,
and subject to the opposition Of any future
legislation of this State. 1,s,.. .s,,,s,,
SEC. 3. 7And be IT. enacted, That when
demand shall be made for any portion Of the
aforesaid sum of Eve hundred thousand dol.
lars, and in the judgment of the Treasurer
the condition of the Treasury should require
it, it shall BE The duty ofishe Treasurer and
he is hereby authorized, to cause bonds, Of
the State of Maryland. not exceeding. the
amount Of one hundred and twenty five
thousand dollars in any one year, in den6ias
nations of. not more than, five. hundred dol
| lars each, and bearing coupons for interest
payable semi-annually at six per cent. utter.
est, to be issued in theousuab form, and pro-
posals fol, the sale, Of the said bonds, made
by advertisement 10 such papers az be may
select bfe-~-aE.E $50 A0df --o3F9
SEC, ~ And be II ls,Mctedi That faEths
payment Of the interest and the redemption
Of the principal, Of the said bonds when due,
there shall be levied upon the asssssabf9
property Of the State, a tax of one cent on
the hundred dollars, to be collected as other
taxes are now collected, and the proceeds Of
said tax shah be paid to the Treasurer. of the
State, and be BY him set apart for the pays
nlent Of the interest and for the redemption
of the principal of said bonds, and be shah
invest the surplus Of receipts frpnii the said
tax, after paying interest as a sinking fund
for the redemption Of said bonds
SEC. s. And be II enacted, That the said
bonds shall be redeemable, JIM fifteen years
from the date of the issue of the said bonds.
Approved March 3d. 1866. E -"
Ifo oG!0a vi D.. THOMAS SWAMP
! afes a,f..a ind a7e9 M u, G0uernQr.jt