Evening capital. (Annapolis, Md.) 1884-1910, 1900-03-03
SENATOR WILLIAMS BILL.
THE B. & S. M. RAILROAD.
A Bill to Authorize The County
Commissioners to Subscribe
to The Capital Stock.

A BILL entitled an act to authorize
the County Commissioners of Anne
Arundel county to subscribe to the
capital stock of the Baltimore and
Southern Railroad Company.
Sec. 1. Be enacted &c., that the
County Commissioners Of Anne Arundel
county, be and they are hereby author
lied and empowered in the name of and
for said Anne Arundel county, to sub
scribe for and hold shares of the capital
stock of the Baltimore and Southern
Railroad Company to all amount not
exceeding tive hundred Thousand dol
lars.
Sec. 2. That for the purpose of meet
ing the said subscription, the said
County Commissioners be and they are
hereby authorized and empowered to
issue bonds in the name Of said county,
in denominations of not less then fifty
or more than one thousand dollars,
bearing interest at the rate of 1--WE per
cent. per annum and payable at period
of not more than forty years from the
date of their issue; and to each of the
bonds shall be attached coupons for the
payment of the interest thereon, payable
semi-annualy, while said coupons should
county taxes by the County Commits
sioners of the said county.
Sec. 3 That the said bonds shall be
exempt from county and municipal taxa
tiop, and the faith of Anne Arundel
county is hereby pledged for the redemp-
tion.
Sec. A. That the County Commits
sieners of the said county shall levy
from year to year, on assessable property
of said county, such sum of money, as
shall in their discretion be deemed nec-
essary for the prompt payment of the
principal and interest of said bonds.
Sec. 5. Provides for the collection
| of the funds for such bends and for the
proper deposits of the funds for the
sinking fund for the redemption of the
bonds.
Sec. 6. Provides for applying all
dividends from the Stock of the company
to the sinking fund for the redemption
of the bonds.
Sec. Z. Authorizes the County Com.
misioners to use any surplus funds at
their disposal to the purchase of the
bonds SO issued, at their market value
and to retire the same.
Sec. 0. That no bonds shall be de-
llvered to the said railroad company by
the commissioners, until the said rail
road shall be built, and completely con-
structed, equipped, put in running order
and opened for regular passengers and
freight service from the Calvert county
nothern line to point in said county,
| at least as far north as Millersville, and
| to Baltimore over such railroad, as the
company shall have effected such arran-
| cement.
Provides, that before the commits
| si0ners of said county, are authorized
| and directed to issue said bonds, the
| question of whether said railroad il
fully constructed and in operation, al
above required shall be submitted to o
commission composed of Mr.. James
Cheston, DIR. Thomas Welsh, Frank S
Revell, G.. Thomas Beasly, Franklin
Mewshaw, DR.. Thomas o. Walton and
John T. Hutchens who shall examine
| the road bed of said road, the rolling
stock and Car service, and upon fay
orable report, by said commissioners, el
a majority thereof, the said bonds may
be issued at not less than their pal
| value.
Sec. IL. Authorize the COUNTY Com
missioners to vote the stock to be sub
scribed for at any meeting of the stock
holders of the said company.
| Sec. 12 This act is to be published
in the newspaper published In this coun
| ~ for two months preceding the cleo
ton for members of the House OF Dele
gates, and shall be subject to the ap
proval of majority of the next Genera
Assembly Of Maryland.
Sec. 10. Provides for Submitting th,
question to vote of the people on the
third Monday in May next. The cleo
tion is to be held under the Supervisor
of Election and subject in every way t
the election laws of the State, but fo
the election there shall be appointee
only two judges and two clerks for eacl
precinct, who shall receive two dollar
day fer one day. The return judge Il
receive an additional two dollars.