Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1913-09-17
Published by Authority.
$50.

SECTION 4. Bc IT enacted by the Gen
/ eral Assembly II Maryland, That the
4 County Commissioners Of Anne Arundel
county he ana they are hereby authorized
and directed IN the name and for said
Ammo Arundel county 60 subscribe for
4 AHA h0ld shares Of the capItaa stock OF
I thc Baltimore and Virginia Railroad
/ Company. 4 body corporate, duly incor-
pogated nnder the laws Of the State 81
I MARYLAND. 10 the amount Of two hundred
I thousand dollars.
/ SrCrIoN .. And be enacted. That for
/ the purpose Of meeting the said subscIip-
/ ton the said County Commissioners of
Anne Arundel county be and they are
I hereby authorized and empowered to IS
sue bonds IN the name of the said county
4 FIN denominations of not less than fifty
or more than one thousand dollars, bear
+ mo interest at the rate of five per cent
per apnm. and payable az period OF
Dot more than forty years from the date
\ az their issue. and - each of the bonds
I shall De attached coupons for the pay
meut ~ interest therein, payable semi
annually. ahi sad coupons shall be re-
/ ecived n amcat &c any county taxes
I 81 the Cuaf leaamissioners of the said
/ county.
]
/ said bonds shall be exempt from county
and municipal taxation, and the faith OF
/ Anne Arundel county is hereby pledged
/ for the redemption thereof.
SECTION J. And be enacted, That the
! County Commissioners Of the said county
shall levy from year to year on the as
! sessible property Of said county such sum
/ of money as shall in their discretion be
! deemed necessary for the prompt pay
ment of the principal and interest Of said
bonds
SECTION s. And be enacted That all
sums levied on account of the principal
OF said bonds shall be collected by the
4 County Treasurer of Anne Arundel coun-
/ tv, or other officer or officers who may be
authorized by law to collect the State
1 taxes, in said county, OF il there should
/ be at any time no State tax levied by law,
then in that case by such County Treas
ufer. collector or other officer or officers
| as may be bv law authorized to collect
tie county taxes In said county, and shall
be subject to the order of the County
| Commissioners of Anne Arundel county
when collected, and shall be by said Conn
| ty Commissioners deposited in some saw
ings bank or trust company to meet the
I interest upon said bonds, and to create
I q sinking fund Tor the redemption of
/ said bonds at maturity, and q statement
of the condition OF said sinking fund to
be certified to by the president and sec
rotary of tue savings bank or trust com
parry where sad sinking funds are de-
posted, shall be published each year dur
inc the first week in January in she pa
pers doing the county printing OF the
sad County Commissioners may invest
said sinking fund in the purchase of the
bonds hereby authorized to be issued, or
the stock or bonds of this State or of
other States of the Union, or of the city
of Baltimore, or of any of the counties
Qua JoJ '74DlS sgQl 10 s5qHGd!9!unW 10
purpose of creating a sinking fund for
the redemption of said bonds at maturi-
tn. And the interest, income or dividends
derived from such investment shall also
be from time to time so invested by the
County Commissioners, and the said sink
ing fund and the investment thereof shall
be kept sacred and inviolate for the re-
domption of said bonds as they shall ma
ture, and any person or persons either
as public officials or otherwise, who shall
divert or attempt to divert said sinking
fund, shall BIO guilty of msdemeanor,
and upon indictment and conviction shall
be fined sum not exceeding one thous-
and dollars, and confined in the county
Jail for term not exceeding one year.
SECTION g. And be enacted, That un-
III the payment IN full Of the whole
amount of the principal of said bonds all
dividends which may be declared by the
said company upon the said stock so to
be subscribed for shall so long as the said
stock shall continue to be owned by the
4 IL { t1rsa1a
sioners, be paid by the said company to
said County Commissioners TO be invested
by them in the increase of said sinking
fund. is invested in stocks and bonds, as
provided in Section 5, it shall be the duty
Of the County Commissioners to publish
during the first week Of January in each
wear. under their hands and seals, in The
! newspapers published in Anne Arundel
county doing the county printing a full
/ statement of the exact condition Of said
sinking fund.
SECTION T. And be it enacted, That
( the said County Commissioners shall have
power at any time out of any surplus
/ funds belonging to the said county TO
/ purchase and retire any of the bonds
hereby authorized to be issued at their
| market value And the same to cancel
/ and destroy, after entering upon their
books the date of such purchase and OF
such cancellation, and tho dates, amounts,
numbers and other particulars Of the said
bonds, respectively; provided, that no
bonds shall be purchased unless all cou-
pons thereof, respectively, not then due
| shall remain attached to such bonds at
I the time of purchase.
/ SECTION 8. And be it enacted, That no
/ bonds shall be delivered to the said rail
/ road company by the said County Com
missioners until first the said railroad of
/ the said company shall be built and COM
/ pletely constructed, equipped, put in run
/ ming order and open for regular passage
( and freight service from the tide water
at Drum Point on the Chesapeake Bay
/ through Calvert and Anne Arundel conn
/ ties. to q point in said Anne Arundel
/ county at least as lar north as Millers-
/ ville on the Washington, Baltimore and
/ Annapolis Electric Railway; and, second,
until regular through passenger and
I freight trains are running at least six
/ days in every week from the said Drum
| Point to the city of Baltimore, Owe the
railroad OF the said Baltimore and Vir-
/ ginia Railroad Company from the said
I Drum Point to a point IN said Anne
Arundel county at leest as far north as
/ Millersyille, ard from th@nee either over
( the railroad On the said Baltimore end
I Virginia Railroad Company, if said rail
road shall have been constructed and put
/ in running order. from MillersyiIle to the