Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1913-10-30
Published by Authority.
CHAPTER 800

eral Assembly OF MaFylAhoi Auat tlie
County Commissioners of Anne Arundel
county be and they are hereby authorized
and directed in the name and for sald
Anne Arundel county, to subscribe for
and hold shares of the capital stock OF
the Baltimore and Virginia Railroad
Company, a body corporate, daily lneor-
norated 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 subscrip-
ton the said County Commissioners OF
Anne Arundel county be and they are
hereby authorized and empowered to IS
sue bonds in the name of the said county
In denominations of not less than hfty
or more than one thousand dollars, bear
inr interest at the rate of five Per cent
Der annum, and payable at q period Of
not more than forty years from the date
of their issue, and 70 each of the bonds
shall be attached coupons for the pay
ment of interest therein. payable semi
annually, which said coupons shall be re-
ceived in payment Of any county taxes
bv the County Commissioners OF the said
county.
SECTION 3. 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 4. Ana be enacted, That the
County Commissioners of tie 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 sll
sums levied on account Of the principal
OF said bonds shall be collected by the
County Treasurer of Anne Arundel coun-
~, or other officer or officers who may be
authorized BY law to collect the State
taxes in said county, or ii there should
be at any time no State tax levied by law,
then in that case by sueb County Treas
urer. collector or other officer OF officers
rs may be by law authorized TO collect
The county taxes in said county, and shall
be subject 10 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
q sinking fund tor the redemption of
said bonds at maturity, and a statement
( of the condition OF said sinking fund to
be certified to by the president and sec
rotary OF the savings bank OF 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 20 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
OF municipalities of this State, for the
purpose of creating q sinking fund for
/ the redemption Of said bonds at maturi-
| ty And the interest, income or dividends
1 derived from ~such investment shall also
I 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 invioate 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
I divert or attempt to divert said sinking
/ fund.- shall be guilty of a misdemeanor,
/ and upon indictment and conviction shall
/ be fined q sum not exceeding one thous
/ and dollars. and confined in the county
| jail for a term not exceeding one year.
| SECTION 6. And be enacted That I'M
l til the payment in full of the whole
I amount of the principal Of said bonds all
/ dividends which may be declared by the
/ said company upon the said stock so to
l be subscribed for shall so long as the said
1 stock shall continue TO be owned by the
/ county and held by the County Commits
sioners, be paid by the said company to
l said County Commissioners to be invested
/ by them in the increase Of said sinking
/ fund, is invested in stocks and bonds, as
L provided in Section 5, it shall be the duty
/ Of the County Commissioners to publish
I 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 the exact condition Of said
sinking fund.
SECTION q 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 70
| purchase and retire any Of the bonds
| hereby authorized to be issued at their
market value. And the same 70 cancel
and destroy, after entering upon their
books the date of such purchase and o.
such cancellation, and the dat amounts,
numbers and other particulars of the said
bonds, respectively; provided, that no
/ bonds shall be purchased unless all con
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 70 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
l pletely constructed, eguippeA, put in run.
ming rider and open for regular passage
and freight service from the tide water
at Drum Point on the Chesapeake Bay
1 through Calvert and Anne Arundel cOun-
1 ties to a point in said Anne Arundel
county at least as far north as Milers-
l 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 the city Of Baltimore, Ovl. the
railroad OF the said Baltimore and Vir-
I ginia Railroad Company from the said
Drum Point TO a point ia said Anne
/ Arundel county at least as far north as
/ MillersvilIe, and from thence either over
the railroad on the said Baltimore and
I Virginia Railroad Company, If said rail-
road shall have been constructed and put
IN running order, from Millersville to the
l city Of Baltimore, or il said railroad shall