Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1913-09-09
Published by Authority.
CHAPTER 800

sEcTsoS /. BE il enacted by tia Gen
ersl Assembly Of Maryland That tho
County Commissioners Of Anne Arundel
county Be and they are hereby authorized
and directed Ia the name and for said
Anne Arundel county, TO subscribe for
and bold shares Of tic capital stock Of
the Baltimore and Virginia Railroad
Cons amy, q body corporate, duly inc0r-
porated under the laws Of the State of
Maryland. to the amount Of two hundred
thousand dollars
Seo4goN 9. And be enacted, That for
tAe purpose % meeting the said subscrip-
ton The said County Commissioners Of
Anne Arundel county be and they are
hereby authorized and empowered to Isl
sue bonds ii the name Of the said county
Ia denominations Of not less than City
81 more than one thousand dollars bear
ing interest 90 the rate OF FIVE per cent
uer annum, and payable at a period Of
not more than forty years from the date
81 their issue, and 20 each Of the bonds
shah be attached coupons for the pay
ment of interest therein, payable semi
annually. which said coupons shall be re-
eeived in payment Of any county taxes
By the CoHuty Commissioners Of the said
county
SECTION 3. Aud be enacted, That the
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 a. Aud 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 5. And be enacted, That all
sums levied on account Of the principal
OF 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
l 30 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
I the county taxes in said county, and shall
I be subject to the order Of the County
/ Commissioners Of Anne Arundel county
when collected, and shall be by said Coun-
| ~ Commissioners deposited in some saw
/ ings bank or trust company to meet the
I interest upon said bonds, and TO create
+ a sinking fund Tor the redemption Of
said bonds at maturity, and q statement
/ of the condition OF said sinking fund to
DO certified 10 by the president and sec
i rotary Of the savings bank or trust COM
pany where said sinking funds are de-
/ posted, shan 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
I bonds hereby authorized to be issued, or
I tile 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
/ sql IoJ 'olglS sTql 20 sa9HGdIo!unu 10
purpose Of creating q sinking fund for
\ the redemption Of said bonds at maturi-
4 ty And the interest income or dividends
derived from such Investment 9shall also
/ be from time to time 50 invested by the
! County Commissioners, and the said sink
4 ing fund and the investment thereof shall
4 be kept sacred and inyiolate for the re-
1 demption of said bonds rs they shall ma.
4 ture, and any person or persons either
+ as public oficials or otherwise, who shall
I divert or attempt to divert said sinking
fund, shah be guilty Of q misdemeanor,
( and upon indictment and conviction shall
4 be fined a sum not exceeding one thous-
4 aud dollars, and confined in the county
4 jail for q term not exceeding one year.
SECTION 8. And Ibe enacted, That UNI
! til the payment in full Of the whole
amount of the principal of said bonds all
I dividends which may be declared by the
said company upon the said stock 50 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 8 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 he
newspapers published in Anne Arundel
county doing tho county printing full
statement of the exact condition Jf 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
ANEGb9 hubADAAACA " 10 t0pANA az Ah1h
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 coI-
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 Tar 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 six
days in every week from the said Drum
Point to tho city Of Baltimore, Owe. the
railroad OF the SAID Baltimore and Vir-
GINA Railroad Company from the said
Drum Point to point in said Anne
Arundel county at least as far north as
Millsrsville, and from thence either over