The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1870-05-26
may l9-st
CHAPrER 4TI,
ANACT

ANACT
TO EHP0 WEN THg MA YoR AND con-
mon COUNCIL or MANCHESTER TO
SUBSCRIBE TO THE CAPITAL STOCK
or THE PARKToH AND NAHCHEs-
TER RAILROAD COMPANY.
Section ]. Be II enacted By the General A.
sembly Of Maryland. That the MAYOR and Cnm.
mon Council OF Manchester, be and they are
hereby authorized and en- powered TO subscr he
10 the Capital Stock Of the ParktOn and Man
chester Railroad Company, the sum of Ten
thousand dollars, and 10 the discretion of said
mayor and Common Council any further sum
not exceeding in the aggregate the sum of
twenty thousand dollars, and in case less sum
OF twenty thousand dollars may be subscribed
to The said capital stock, then the said Mayor
aud Common Council are authorized 10 endors.
the bonds tf said Company to any amount,
which with the amount subscribed 10 suij
tapilal Stock shall not exceed in the aggregate.
the sum Of twenty thousand dollars. Which an
dorsetnent shall be secured IN such manner and
on such terms as may be agreed upon between
the said Mayor and Common Council and The
said Railroad Company.
., Sec. :. And be it enacted That the said
Mayor and Common Council, be and thpv sr,.
hereby authorized, and empowered Ia Issne
Bonds Of the Corporation Of Manchester bsar.
ing interest not exceedihg six per centnin. nav
able somi-aDnually, fer such amount from tI,3s
10 Tune as may be required h pay the amounts
Which may be subscribed to said capital stuck.
which bonds shall not be subject ~ ,nvstior,
Tor County, or Corporation Taxes; and To
levy on the assessable property within The
limits Of said Municipal Corporation using as
the basis Of said levy the Assessment Of Inc real
and personal property within the limits of said
municipal Corporation, made under the Act of
Iooo, enapter lai, and the supplement thereto
L NHa@
J4l, or any assessment hereafter made accord.
ing 10 law, such amount of taxes as may be re-
plreu to pay the interest on said Bonds aud
NJ NJ principal debt, should the same become
Fnssary and also to constitute a Sinking
If m Tor their redemption, and also, when and |
endoi id mayor and Common Council shall
-, any OF the Bonds Of said Railrond Com !
and o. ereinbelore provided, the said Mayor
snch ION Council shall levy as aforesaid. |
na. H. 1T Of taxes as may be sufficient To
pa.t ,b.rar rest on said endorsed bonds or any |
sbicb 80, the payment Of the interest on
for he aid i,t be safely and surely provided
50 endorsed, sbI ~, ba ah,c, go -, 'a 1 ponds,
Municipal taxati, N'uH'! or
,t 2ec' ?, And bSt enacted, That the Band,
M .aay oe i,sus as aforesaid. shall be pay-
sors,ao ~" ~. .nhh Iirty years from date, re-.
time not less than fa ras'"S , mem d,,e S sna
shall not be sold or diSo.ed Of. at loss than
eighty per cent - ~
Sec. 4. And be i ena,cd, That at any mu.
nleipai election ~ be heh In Manchester, at
such time and place as ma, be 6xed by an or
aInanee OF me Mayor and 0,,nmon Council Of
o a"n ,hn h'H, .here my be wdtten or printed
at said election, the words '.Por railroad Sub
seription," or against Raf,,nnd Subscrip-
uon," and II a majority Of the baIots cast shall
contain tho words "for Railroad Subscrip-
ton" then this Act shall become operative
and binding, but If a majority Of said ballots
SS.p contain the words "Against RsiIrc-1
agos lotion" this Act shall be soid aud Of no
uneu', ahs-,h judges Of said municipal election
III sna ~ s wsanh @he Mayor aud Common O"ln-
GU OF hsnenester, - number OF votes cast for
Railroad Subscription md against Railroad
Subscription respectively, aGS the said Mayor
and Common Couneil shall BY their prooiama-
ton announce the result thereof
Sec. 5. And be 1t enacted, That tina Act
shall take effect from the date of its passage.
Approved April 4, 1870
oDEN BOWIE,
may l9-3t Governor.