The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1872-05-18
otVIttAFy OF EUU oVuHNo'
MILTON Y. KIDD,
Chief Clerk House Of Delegates,
Approved April /, 1872.
CHAPTER $50.

hhu WI cAShahbliS VI tahiuh UP tue CAeil'
ing Debt OF the State, aud issIing "a
Currency Loan in lieu thereof.
WHEREAS, there are at this time, bonds and
certificates OF debts OF this State overdue
aud others on which the interest is non
payable III London, commonly known as
The Sterling Debt OF the state, amounting
in the aggregate TO six millions seventy .
one thousand and sixty one dollars aud
twenty cents, Of which said debt has
been due since 1855 aud the sum of
one hundred and ninety two thousand
nine hundred and iitv dollars and Twelve
cents, have been due since the year
1870; aud,
WHEREAS, not only justice to the holders
otthis overdue deOt demands that the same
be promptly redeemed ; bu. tue true
interest OF the SAFE nan,fsLy requires
that provisions be made therefor, and
also tor the taking up 'oi the said Stsrl
ing Debt aud on the best possible terms
for the consolidation OF thls deoi, 50 that
the interest on all may be payable here
IN currency therefore,
Sec. !. be 1t enacted by the General
Assembly OF MARY land, That loan be,
and the same is hereby created, to be called
the Mary land State Loan, not to exceed SIX
millions of dollars, or 80 much thereof as
may be decessary, bearing an interest Of
SIX per centum, per annum, payable
semi annually On the LIST days Of January
aud Ju,y in each aud every year, said loan
TO be exempt from State, County aud
municipal taxation, and redeemable az the
pleasure VI the State in fifteen years from
tue date Of IFS issue.
Sec. 2, Aud be it enacted, That the
Governor, Comptroller aud Treasurer b.,
aud they are hereby, authorized aud
directed 10 have the said bonds or Ger
uhcates Ut debt OF the State prepared either
with coupons attached or AS registered
bonds IN their discretion, or in such
proportions VI each AS they may thiuk will
best secure their sale and promote the
interest OF the State.
Sec. .. Ana be 1t enacted, That the
said bouds or certificates are TO be used
eScluslvely IN exchange for the bonds of
the state now outstanding Or to raise the
means to pay OF said beods in the option
Oi the holder, that matured IN 1866 and In
1870, and for the Iaklug up Of said Sterling
Debt WINCH said Sterling DeOt may be re
deemed or exc auged al rae NOT nikhes
than tour dollars and eighty hour cents per
pound sterling, anu sand bonds or certiti .
Gates or the money arising therefrom, are
not TO be used for any other purpose
whatsoever
sec. 4. And be it enacted, That if the
Governor, Comptroller and treasurer, or
q majority OF Them, shall, in their discretion
deem II advisable, they shall, from time to
tlme, as 1t may appear 10 the interest of
the State, sell to the best advantage SO
much OF this loan As may be nceess Nv TO
carry cut the intention Of this Act. In,
Treasurer OF the State hrst givius uotles of
not less tina thirty days, inMun uropo.as..
which proposals sha De opened by ann in
tue presence OF the Governor aud Conn
trolIer no Did shall be AWARDED ut less thiu
par.
Sec. b. And be it enacted, That the
bonds OF this State now overdue, AMI those
ON which the interest is payable in Lonlon,
usually deuomlnatei the Sterling usut OF
the State, shall be receivable ia payment for
said loan, the former at not exceeding par
aud the latter at not exceeding four dollars
aud eighty four cents per pound sterling,
under such regulations as the Governor,
Comptroller and Treasurer may prescribe,
and every bidder for tho loan now authorized
TO be Issued, shall state in his proposal
whether the SAME is to be paid in cash or
IN the bonds or certificates OF Indebtedness.
OF the state.
Sec. .. And be it enacted, That any law
or parts Of any law now on our statute
books, inconsistent with either, any or all
vi the preceding aectiOms OF this law be, aud
the same are HEREBY repealed.
SEE. Z. And be 1t enacted, That this Ac,
shall take effect from and after tue da,e OF
its passage.
We hereby certify, that the aforegoing is a
true and perfect copy Of an Act passed
the General Assembly Of Maryland, at
the January Session, 1872.
AUGUSTUS GAoSAWAY,
,ss,,n Secretary ofthe Senate.
MILTON Y. KIDD,
Chief CLERK House of Delegates.
Approved April /, 1872.
CnAPrER 2T5.
AN ACT
Ceding to the United States Of America the
jurisdiction over certain lands ON the
Potomac River in Prince Georges couu.
", with the water rigits aud UIner rights
pertaining thereto Tor the site of Fort
roOte.
Section /. Be it enacted by the General
Assembly OF Maryland, That the jurisdic
ton and control Uf the lands hereinafter
described or any portion thereof, Situate on
the FctoLlac River, In Prince George 8
county, that may hereafter be conveyed Nv
deed duly executed, acknowledged aud ra
corded, " the United States Of America for
The site OF Fort, and the water. wafer
rights aud oil other rights aoperlaining
thereto, whenever the same shall DC 50 con
veyed, be and the same are hereby vested
III tue United states OF America for military
and naval purposes, beginning for SAID
lands al stone al Or near the shore Of the
Potomac river, and IN the divisional lin,
between the lands OF +. W. Ruzler aud the
heirs at law OF Benedict Edelin,, deceased
aud running thence north seven degrees aud
nity minutes, east thirteea hundred aud
ninety tour feet with The Potomac Riyer,
thence north eight degrees aud hily five
minutes, west four hundred and seventy. Al 4
aud tvetenths ieet with said river, tiienc,
north iory hive degrees and twenty. iy,
minutes, wesI Two hundred and ninety .seyei
lret with SAID river, thence north tweuly
eight degrees and nifty hive minutes, ives
four hunured and twenty nine ieet with sane
river, thence norm thirteen degrees anu
hily minutes, west sixty SIX and iive tentn,
beet with SAID river, thence leaving sail
river, theuce west seventy four degrees, eas
nine hundred asd seven and three. tenth
lee1, thence south ous degree and THIRTY
minutes, east eignt hundred and sixty feet
thence south thirty degrees and thirty min
ules, east four nandred aud ise feet, thenc,
north eignty nine degrees and thlrIy mia.
uIes, east one hundred aud sixty hve lee t
tneaee south forty degrees, east three hun
dreo and twenty nine and five ienths feet