The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1870-02-03

] nave been gwen by the psrsuna constituting
| the Committee Of Finance Of said Company.
under the provlsons OF this ordinance, or any
Of them, shall become suiliciently impaired 10
value, by reason Of change ia the PecuriarY
condition Of the suretes, to make IL prudent
that new bond should be giFen, then NO
| further delivery OF bonds shall be made herc7
under until new bond shall have been given
/ aud approved by the Mayor, conditioned as
kerein before provided.
Section 7. And be Il further enacted and or
dained, That the said bonds, for the endorse
meut OF which provision Is made BY this ofdi-
nance, shall, when endorsed, be delivered by
| the Register 20 the Mayor and Commissioners
! OF Finance, to be by them delivered, nnder the
| provisions of this ordinance, 10 the Western
! Maryland IiailrOad Company, and tho said
| bonds, when delivered as aforesaid 70 tho
| aforementioned representatives Of said Colnpa-
ny, shall be sold OF disposed ef by them only
in such manner and at such times as shall BE-
/ approved OF by the Mayor and Gommissioners
] of Finance, or a majority OF ibem.
/ Section &. And be il further enacted an&ert
dained, That before any Of the bonds, for tho
endorsement OF which provision 10 mads in
/ this ordinance shall be delivered to The said
| Western Maryland Railroad Company or its
| representatives, the said Company shall have
located a new, direct and independent line Of
| railroad from point At or near Owings Mills,
to point in the city Of Batimofe west oil
| Pennsylvania avenue. And the Mayor and.
| Commissioners OF Finance OF the gaidscitys
shall, before the delivery, as Aforesaid, Of any
of the said bondz, require that the Finance
| Committee Of the said Company shall produce
! TO them duly certified copy or copies Of n
! contract or contracts, entered inio.hy tho said
/ Railroad Company with competent party or.
! eoEtsetent parties, for the construction and
/ completion ol the said new and independents
line from 0wings Mills to Baltimore, as well
as for the completion Of the road of said
hCompany, from its present western terminus
~ and
the said Mayor and Commissioners Of Finance
! shall further require that the said contract on
contracts shall be examined and approved BY
| the City Solicitor and the said contract or
contracts shall not be made until all ADVERTISE
ment shall have been published IN the cities ot
| baltimore, Philadelphia and New York, invi-,
ting proposals for the doing Of said. work 40
/ TO be contracted for, nor until said Company,
/ shall have considered fairly the proposais
which may be made 10 II IN answer TO the said
advertisement. And the said Mayor and Com
! missioners Of Finances shall further require,
1 before the delivery ol any OF the bonds as
| aforesaid that satisfactory evidence shall boi
| produced to them, certified by the said Finances
| Committee Of the said Railroad Company, that
| the said Company ias secured sufficient means,
| by stock subscriptions or otherwise, together
| with the amount To bs derived from tho bonds
| hereinafter set apart and especially reserved
| for that purpose, to ensure the completion OF
| the aforesaid new and, independent line from
/ OwiDgs, Mills to Baltimore and the said Mayor
| and Commissioners Of Finance shall further
| require, rs one OF the conditions upon which
| any OF the said bonds shall be delivered as.
| aforesaid, that the said Company shall gsarau-
| tee to.lDcate their principal or main work and
repair shops In or adjacent TO the city vl Balti-
more.
| section 0. And be Il further enacted and or.
! dained, That 500 900 OF the bonds for whose
| endorsement provision is made by this ordi-'
nance shall be set apart and reserved for and
4 exclusively applied to the construction OF the
/ said new and independent line from owngsf
+ Mills To. Baltimore, mentioned and stipulated
for in the next succeeding section of this or
dinance, and that the said Western Maryland
! Railroad Company, before upprupriating any
portion OF the bonds for ilbe endorsement or
! which provision is made 10 this ordinance, to
1 the completion or construction Of that parf Of
/ its road west Of Smithsburg in Washington
county shall set apart and apply snnicicnt
| portion OF The said bonds TO complete the con-
struetion Of the said road from its present
terminus at Big Pipe Greek, In Carroll county,
| Smithsburg, in Washington county; and before
| the said Mayor and Commissioners Of Finance
/ shall allow any portion of said bonds 10 be
| applied to, the construction CT the said road
| between Smithsburg and Hagorsiown.
| Section 10. And be 1t further enacted and
| ordained. That of the fourteen hundred fbous
/ and dollars Of bonds for whose endorsement
| provision is hereinbefore made by section one
I LuQu44nH
| lars of said bonds shall be retained by The
Register lizards sinking fund; and the
! interest derived from the boDd1 So retainod
| shall be from time 20 time invested by The
| Commissioners Of Finance and If, Al or prior
| TO the maturity Of said fourteen hundred fhou-
sand dollars Of said bonds, the sszne, together
with all others upon which thc city. may b.
liable as endorscr or Euarantor OF said Com
| pany, shall in principal and interest have
been redeemed by the said Company, then tho
said two hundred thousand dollars Of bonds. %,
| deposited with the Register, shall be cancrIls
| ed and the accumulated income derived from
| said bonds shall be returned 10 said Company.
1 and whenever the accumulated incofl3e In thn
| hands Of the said Commissioners Of Finance
shall reach an amount sufficient To redeem ths,
| whole amount OF bonds to be endorsed under
| the provisions OF this ordinance, and delircred
to said Company, then the Commissioners If
Finance may give notice through the daily
papers Of the city of Baltimore Of the tine and
| place for the redemption Of said bends, and
redeem the same out OF the said sinking fund
| so derived from said accumulated incnlnc /. md
when the said outstanding bonds shaH have
been so redeemed, that said bonds so retained
| by the Register shall be cancelled, and before
the Register shall endorse any pnrt 81 tho
| twelve hundred thousand dollars Of said bnuds
| which are designed by this ordinance fo IA
! delivered TO the said Western MARYLAND Rail-
road, there shall have been delivered 10 him by
said Company the two hundred thousand AL.
lars Of said bonds mentioned in this section.
Section IL. And be il enacted and ordniped,
| That this ordinance shall be submitted 70 the
legal voters Of the city Of baltimore for az.
prevail or disapproval at an election to be-
held on the third Tuesday next after the Ina.c
sage Of an act by the General Assembly Of
Maryland authorizing such endorsement of
! bonds, on which day polls shall be opened at
the usual places of voting in the various prc.
cinets Of said city, which polls shalt bs opened
and oil NJ tla. Il.
! olher elections and at said election each ~
said voters, who shall approve the adoptiun az
this ordinance, shall deposit ticket or baIlat
! on which shall be written or printed ths
words, "for the ordinance and each of aid
voters, voter who shall disapproye Of the adoption OF
TINS ordinance, shall deposit ticket or ballot
upon which shall be written or printed lid
| words. Against the ordnance f~
:. Section u. And be 1t enacted and oras;rcS
That immediately upon the closing ~ tbc
polls, the Judges Of election in the several
precincts shall count the ballots ieposited y
such election, and shall make return NJ III
Mayor Of the city Of Baltimore Of the numh.r
oil votes east "For the ordinance.s and' IN
number cast against the ordinance n ara, II
2 majority OF the votes shall have heon casf Il
iayor oil the ordinance, the Mayar sItali certify
the fact 70 the President Of The tosnectis'.
branches OF the City Council, and ia sa,S
endorsements may be made Immediately thera.
after, subject, however, 10 the PROVISIONS - 4,
saia endorsement hereinbcfore contaipcd. 4 7
:, Section l3. And be enacted and orJa;,..a
That copy Of this ordinance ana nof;ct "a
ihe time Of holding the said electinn. Shail b.
published In at least four Of the dail5 papcr> u
tue CITY Of baitimnr twice : week far ixo
| weeks next preceding snid election "a
section "a And be il enacted and ordained.
ihat the Comptroller Is hereby aashefi<sd lid
directed to have printed tickets pf' 'iha des*rI1
tion mentioned in The lith see.isu 81 it|1 M
dinanceS and placed al the polls On The d&J