The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1896-05-16
CHAPTER 172.


AN ACT TO REPEAL SECTION OF
CHAPTER 80 OF THE ACTS OF AS
sEMBLY OF MARYLAND OF 1892, EN-
TITLED AN "ACT PRESCRIBING
THE REGULATIONS AND CoNDI-
TIoNs UPON WHICH THE BOARD
OF PUBLIC WORKS SHALL SELL
THE STATES INTEREST IN ALL
WORKS OF IMPROVEMENT.
Section 1. Be it enacted by the General
Assembly of Maryland, That Section of
Chapter $40 of the Acts of Assembly of
Maryland of 1892 be. and the same is, here
by repealed and re-enacted so as to read
as follows:
Section 2. The Board of Public Works
are hereby authorized and directed, when
ever they shall determine it to be for the
best interest of the state, to sell the whole
or any part of the following state stocks,
and securities, to wit: Fifty-five hun
bred shares of the capital stock of the
Washington Branch of the Baltimore and
Ohio Railroad Company, six hundred
shares of the capital stock of the Annap-
OILS W aIeT company, IIIGtu nuuuTeu anu
forty-nine shares of the capital stock of
the Farmers National Bank of Annapolis,
mortgage of the Northern Central Rail-
road Company to the state of Maryland.
securing an annuity of ninety thousand
dollars to the said state of Maryland, all
now held and owned by the state
of Maryland, and in making sale of
such stock or securities, the said
Board of Public Works are direct
ed to proceed as directed in Section 1
i Ill ii
ter 80. But the said Board of Public
Works may exchange any of the said state
securities at their actual market value
for an equal amount of the outstanding
bonds or certificates of Indebtedness of the
state of Maryland, and full authority is
hereby given them to execute and deliver
such transfers or assignments as may be
necessary to effect such sale. exchange or
transfer. And whenever there shall be
any sale or transfer Of such state securi-
ties by the Board OF Public Works, the
proceeds thereof shall be applied to the
payment and cancellation of a like
amount of the outstanding bonds or GER
tificates of debt of the state of Maryland;
bonds or certificates of debt of the state
shall be paid, the same shall be cancelled
and entered by designation and number
by the Treasurer in the book in his office
known as the "Treasurer's Record of
Bonds Paid and Cancelled" and the
Treasurer and Comptroller are hereby d.
fected during the month of September,
anu prior u the CtOSe OIL the uSCal year
next preceding the meeting of the Cen
eral Assembly, to charge off on their
books of account all such state bonds and
certificates of debt which have been paid
or redeemed. so as to reduce the accounts
of such bonds and certificates of debt to
the amounts then actually outstanding
and unpaid, so that the said books at the
time the Comptroller's report is made will
show the actual outstanding debt of the
state; and the Treasurer shall report the
same to the next succeeding General AS
sembly fully and in detail; and the Com
mittee of Finance Of the. Senate and the
Committee of Ways and Means of the
House of Delegates shall examine said
books of the Treasurer during the first
thirty days of the session, and shall burn
and destroy all the state bonds and GER
tificates OF debt which have been paid. re-
deemed and charged off as aforesaid. and
make report and certificate thereof to the
General Assembly. which report shall be
printed in the journal of the proceedings
Of the Senate or House of Delegates.
Section 2. And be 1t enacted, That this
Act shall take effect from the date Of its
passage
LLOYD LOWNDES, Governor.
WILLIAM CABELL BRUCE,
President of the Senate.
SYDNEY T. MUDD,
Speaker of the House Of Delegates.
We hereby certify that the aforegoing is
a correct copy of an Act or the General
Assembly. Of Maryland. passed January
~ j. ROGER McsHERRY.
Secretary Of the Senate.
NJ. NJ HIGGINS
J Chief Clerk Of the House Of Delegates