Port Tobacco times, and Charles County advertiser. (Port Tobacco, Md.) 1845-1898, 1868-09-17
PUBLIC LOCAL LAWS,
.ssA ~ PASSED BY THE 80
aIllll ASSEMBLY, ll.MAlYLAID

blbl9Ah ASSEMbLl u MAIL LAuD.
AT1HR1ANUARYsEss1oN, 1868.
zaU2' AAllN1cra zatf'
To aid.ins, construction J. of works Of Internal
Improvements ia st. Mary's, Charles and
Calvert Counties. Z III *<tt}@
WH4REAs,. 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
sEaa such appropriation should be now made;
therefore, Il SIRE East:ss
SECTION /. Be 1t enacted By the General
Asse6sNy of Mnryzand, That the sum of
Eve hundred thousand dollars be and the
same is hereby appropriated and set apart
for. the construction of works Of Internal I'M
provement 10 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 hum
dred and fity-two thousand dollars and as
coon 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
tered in said counties respectively, that
bona Jede 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 and 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 unappropriated money in the Treasury,
pay Che installments on each share Of the cap
tAl stock of said company or companies,
for which he shall subscribe as aforesaid, on
tn warrant Of the Comptroller, which the
latter officer is hereby directed to issue as the
said installments may be called for by the
County Commissioners Of said county and
agreeable to the provisions of the Act incor-
poratlng said company or companies pro-
sided, that the Treasurer shall not at any
time pay upon the States subscription to the
c4pital 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..
SEQ. g. ,4nd be It 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
ID that case, the aforesaid FIVE hundred thou
sand dollars set apart and intended to be ap-
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 10 said counties,
and subject to the opposition of any future
legislation of this State.
SEC. 8. A1d be 1t enacted. That when a
demand shall be made for, any portion of the
aforesaid sum Of Eve hundred thousand dol
hs, and 10 the Judgment Of the Treasurer
~ condition Of the Treasury should require
iAsit shall be the duty of the Treasurer, and
he u hereby authorized, to cause bonds of
TIE State Of Maryland, not exceeding the
amount of one hundred and twenty-five
totsand dollars In any one year, in denom-
ipatsonso f not more than Eve hundred dol
lass each, and bearing coupons for interest
payAhle semi annually at six per cent. inter-
est, to be issued in the usual form, and pro-
posals for Che sale Of the said bonds, made
by advertisement, in such papers as be may
select.
SEC. 4. And be It enacted, That for the
payment of the interest and the redemption
Of the principal, Of the said bonds when due,
there shall be levied upon the assessable
property Of the State, tax Of one cent on
tn hundred dollars, to be collected as other
tanss 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 pay
meat of The interest and for the redemption
efsths principal Of said bonds, and he shall
invest the surplus of receipts from the said
tax, after paying interest as a sinking fund
for the redemption of said bonds.
ylEEcs s. .And be 1t enacted, That the said
bonds shall be redeemable in fifteen years
from the date of the issue of the said bonds.
Approved March 80. 1865.
.v.sas ..ee..s5 $50. THOMAS SWAMI,
$3.50 ..;s.4 -, GOreryo,.