Port Tobacco times, and Charles County advertiser. (Port Tobacco, Md.) 1845-1898, 1869-02-26
An Act to Aid In the Construction OF
Works OF Internal improvements in st.
Mary's, Charles and Calvert Counties.

An Act to Aid In the Construction Of
Works OF Internal improvements I'm St.
HIary's, Charles and Calvert Counties.
Whereas, By Section thirty-four of the
third Article of the Constitution, authority is
given to extend the aid of the State in behalf
Of the construction of Works of Internal I'm
provements 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 T. 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 Improve
ments in the said counties respectively as fol-
lows: to Charles County, the sum of one hun
dred and seventy-fve thousand dollars; to St.
Marys County, the sum of one hundred and
thousand dollars; and to CAL
vert County the sum of one hundred and ff-
ty-two thousand dollars; and as soon as it
shall appear TO the Treasurer Of this State, by
the affidavit of the president of any railroad
company, now chartered, or whichmay here
after be chartered'in said counties respective
ly, that bona fde subscriptions to the capital
stock Of any such company, equal in amount
to the sum by this act authorized and direct
ed to be given to such county, shall be actu-
ally made either in land or money, the Trea-
surer of this State shall be and he is hereby
authorized aud required, in the name and be-
half of the State, upon the recommendation
tho Erppfry mic IF coil ptx,
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 the installments on each share Of the cap
ital stock Of said company 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
may be called for by the County
Commissioners of said county and agreeable
to the provisions OF the act Incorporating said
company or companies; provided, 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 SUBJ
scribers to the capital stock of the said COM
panies; and, provided further, that the said
Treasurer shall not pay more than one-fourth
of the whole amount appropriated under this
act in any one year.
Sec 2. Andbe 1t enacted, That the whole
or any portion of the fund appropriated by
this act shall not be demanded, according to
the provisions of this act, by any of the coun-
ties referred to, that then, and in that case,
the aforesaid FIVE hundred thousand dollars
set apart and intended to be applied to Works
of Internal Improvements in said counties,
shall be held sacred, and the faith of the State
pledged that the said amount shall be exclu-
sively devoted to Works of Internal Improve
meuts 10 said counties, and subject to the dis
position Of any future legislation Of this State.
SEC. g. Ind be 1t enacted, That when a
demand shall be made for any portion of the
sum of five hundred thousand dol
lars, and in the judgment of the Treasurer the
of the Treasury should require it, it
shall be the duty of the Treasurer, aud he is
hereby authorized, to cause bonds of the State
of Maryland, not exceeding, the amount of
one hundred and twenty-five thousand dol
lars ia any one year, il denominations of not
more than Eve hundred dollars each, and
bearing coupons for interest payable sen''an-
nually at six per cent. interest, to be issued
in the usual form, and proposals for the sale
of the said bonds, made by advertisement, in
such papers as he may select
Is SEc.4. Andbe 1t enacted. That for the pay
ment of the interest and the redemption Of
the principal, of the said bonds when due,
there shall be levied upon the assessable pro-
perry of the State, tax of one cent on the
one 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, and be by him set apart for the pay
ment of the interest and for the redemption
of the principal of said bonds, and he shall
invest the surplus of receipts from the said
tax, after paying interest, as sinking fund
for the redemption of said bonds.
SEC. s. And be 1t enacted, That the said
bonds shall be redeemabe in fifteen years
from the date of the issue of the said bonds.
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