Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1913-10-28
Published by Authority.
nHApTER Sq0.


county ia subscribe to the capital stock
az tbe Baltimore aud Virginia Railroad
Company.
aral Assembly Of Maryland, That the
t,onpty Commissioners of Anne Arundel
comfy be and they are hereby authorized
and directed i'm the name and for said
Anne Arundel county, to subscribe for
and hold shares of the capital stock of
the Baltimore and Virginia Railroad
Company, a body corporate, daly moor,
norafed under the laws Of the State OF
Maryland rs the amount of two hundred
thousand dollars.
SrcTIov .. 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 20 ls-
she bonds in the name of the said county
in denominations Of not less than flfty
or more than one thousand dollars, bear
INC interest at the rate Of iye per cent
per aunum, and payable at a period OF
not more than forty years from the GATE
of their issue. and to each OF the oonda
shall be attached coupons for the pay
ment of interest therein, payable semi
annually, which said coupons shall be re-
eeived iii payment of any county taxes
bv the County Commissioners Of the said
county.
SECTION 8. And 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 T. 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
az 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 coun-
i 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 ease by such County Treas
/ urer collector or other officer or officers
/ as NAV be by law authorized TO collect
/ the county taxes in said county, and shall
| be subject to the order of the County
/ Commissioners of Anne AruSdel county
| when collected, and shall be by said Coun-
/ ty Commissioners deposited in some saw
Il inps bank or trust company to meet the
interest upon said bonds, and to create
q sinking fund Tor the redemption Of
said bonds at maturity, and a statement
| Of the condition OF said sinking fund ia
be certified to by the president and sec
| rotary of the savings bank or trust com
pany where said sinking funds are de-
posted, shall be published each year dur.
ing the first 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, OF
tho 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 tbs
purpose OF creating a sinking fund tol
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 80 invested by the
| County Commissioners, and the said sink
inc fund aud 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 a 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 al
dividends which may be declared by the
said company upon the said stock 50 Il
be subscribed for shall 80 long as the said
stock shall continue to be owned by tbs
county and held by the County Commits
sioners, be paid by tho said company Il
said County Commissioners to be invested
by them in the increase Of said sinking
fund, is invested in stocks and bonds, al
provided in Section 5, it shall be the duty
Of the County Commissioners to publish
during the first week Of January in eacf
year, under their hands and seals, in tbs
newspapers published in Anne Arundel
county doing the county printing a full
statement of the exact condition of said
sinking fund
SECTION 7. And be it enacted, That
tho said County Commissioners shall have
power at any time out of any surplus
funds belonging to the said county "a
purchase and retire any Of the bonds
hereby authorized to be issued at theiI
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 al eOu
pons thereof, respectively, not then due
shall remain attached 70 such bonds al
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.
nissioners until first the said railroad Of
the said company shall be built and com.
pletely constructed, equipped, put in run.
ming rider 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 lar north as Millsrs-
/ 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 Che said Drum
Point to the city Of Baltimore, oye the
railroad of the said Baltimore and Vir-
/ ginia Railroad Company from the said
| Drum Point to a point IN said Anne
4 A r,svI gI .1r,vNrv M 1oouk ea