Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1913-10-22
Published by Authority.
CHAPTER 500.

County Commissioners OF Anne 1luhusl
county be and they are hereby authorized
and directed in 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, q body corporate, duly meor-
porated under the laws of the state 81
| 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 IS
she bonds in the name of the said county
/ IN denominations of not less than fifty
/ ar more than one Thousand dollars, bear
/ ino interest az the rate of five per cent
per annum and payable st a period OF
not more than forty years from the date
| Of their issue and 20 each of the bonds
| shall be attached coupons for the pay
mant 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 s. And be enacted, That the
/ said bonds shall be exempt from county
and municipal taxation, anc the faith of
/ Anne Arundel county is hereby pledged
| for the redemption thereof
| SECTION A. And he 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
County Treasurer Of Anne Arundel couu-
nv. or other officer or officers who may be
| authorized by law to collect the State
taxes in said county, or IL there should
| be n any time no State tax levied by law,
then in that case by such County Treas
urer, collector OF other officer OF officers
as r7y be by law authorized to collect
the 'nty taxes in said county, and shall
be 81 liect to the order of the County
Conn ssioners of Anne Arundel county
when collected, and shall be by said COuu-
ty Commissioners deposited in some saw
ings bank or trust company to meet the
interest upon said bonds, and 60 create
! 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 the savings bank or trust COM
pany where SAID sinking funds are de
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 lee issued, OF
the stock or bonds Of this State or of
other States of the Union, OF of the city
of Baltimore or of any of the counties
OF municipalities Of this State, for the
purpose of creating a sinking fund for
5he 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 OF otherwise, who shall
divert or attempt to divert said sinking
fund, shall be guilty of a msdemeanor,
and upon indictment and conviction shall
be fined o sum not exceeding one thOus-
and dollars, and confined iu the county
/ Jail for a term not exceeding one year.
| SECTION 8. And be enacted, That I'M
| 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 sand
stock shall continue to be owned by the
| county and held by the County Commits
sioners, DO 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 tba
newspapers published in Anne Arundel
county doing the county printing a full
statement of the 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 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 the dat 3, amounts,
numbers and other particulars Of the said
bonds, respectively; provided, that no
bonds shall be purchased unless ali cou-
pOns thereof, respectively, not then due
| shall remain attached to such bonds at
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, equippe@, 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 eOun-
ties to g 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 AZ least six
days in every week from the said Drum
Point to the city cf baltimore, Owe 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 az far north as
Millersville, 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
IN running order, from Millersville to the
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