Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1913-10-09
Published by Authority.
CHAPTER 500.

SECTION l. Be IL enacted by the Gen
ersl Assembly of Maryland, That the
Cosntv Commissioners of Anne Arundel
county We and they are hereby authorized
sud directed in the name and for SAID
Anne Arundel county, 10 subscribe Tor
4pa hold shares Of the capital stock OF
tho Baltimore and Virginia Railroad
t'ompanv. body corporate, duly neor-
porajed under the laws of the State of
MARYLAND. to the amount of two hundred
thousand dollars.
SECTION .. And be enacted, That for
the purpose of meeting the said subscrlp-
ton the said County Commissioners of
Anne Arundel county be and they are
hereby authorized and empowered to ls-
sue bonds in the name Of the said county
u denominations of not less than fifty
ar more than one thousand dollars; bear
mo interest at the rate of five per cent
per annum, and payable at q period of
rot more than forty years from the date
at their issue, and TO each of the bonds
shall be attached coupons for the pay
! pcut of interest therein, payable semi
annually. which said coupons shall be re
reiyed in payment of any county taxes
fn, the County Commissioners of the said
j.eounty.
SECTION 3. And be enacted, That the
said bonds shall be exempt from county
aud municipal taxation, and the faith of
Aune Arundel county is hereby pledged
I for the redemption thereof.
SECTION e. And be enacted, That the
| County Commissioners of the said county
! shall levy from year TO year on the as
| srssble property of said county such sum
| al money as shall in their discretion be
| deemed necessary for the prompt pay
mcnt of the principal and interest of said
| bonds.
| SECTION ;. And be enacted, That all
sums levied on account of the principal
Oh said bonds shall be collected by the
| County Treasurer of Anne Arundel eoun-
/ ty. or other officer or officers who may be
| authorized by law to collect the State
| taxes, in said county, or il there should
be at any time no State tax levied by law,
| then in that case by such County Treas
urer collector or other officer or officers
as may be by law authorized to collect
/ the county taxes in said county, and shall
| bo subject to the order of the County
| Commissioners Of Anne Arundel county
/ when collected, and shall be by said Coun-
| ty Commissioners deposited in some saw
ings bank or trust company to meet the
| interest upon said bonds, and to create
a sinking fund tor the redemption of
said bonds at maturity, and statement
| OF the condition OF said sinking fund to
be certified TO by the president and sec
rotary of the savings bank or trust com
pany where said sinking funds are de-
1 posted, shall be published each year dur
ing the hrst week in January in the pa
| pers doing the county printing or the
| said 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
or municipalities of this State, for the
| purpose Of creating a sinking fund for
| the redemption of said bonds at maturi-
| ty. 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-
| demption 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 be guilty of a misdemeanor,
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 8. And be enacted, That un-
til 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
county and held by the County Commits
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
year, under their hands and seals, in the
newspapers published in Anne Arundel
county doing the county printing a full
statement of tho exact condition of said
sinking fund.
SECTION Z. 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 dubDuIiIeu ~ Dc 4oSuSu AZ bhcii
market value And the same to cancel
and destroy, after entering upon their
books the date of such purchase and of
such cancellation, and the dat, :, 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
the time of purchase.
SECTION s. 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 coun-
ties to a point in said Anne Arundel
county at least as far north as Millers-
vile. on the Washington, Baltimore and
Annapolis Electric Railway; and, second,
until regular through passenger and
freight trains are running at least ak
days in every week from the said Drum
Point to the city of Baltimore, oyeg the
railroad of the said Baltimore and Vir-
ginia Railroad Company from the said
Drum Point to a point In said Anne
Arundel county at least as far north as
Millersyille, and from thence either over
the railroad on the said Baltimore and
Virginia Railroad Company, if said rail-
road shall have been constructed and put
-, ,-,,pr;v,cr ordar from MiIla~eviIla IN fha