Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1913-10-29
Published by Authority.
CHAPTER AGO.


county to subscribe to the capital stock
Of the Baltimore and Virginia Railroad
Company.
SECTION !. Be it enacted by the Gen
eral Assembly of Maryland, That the
Copnfv Commissioners Of Anne Arundel
county be and they are hereby authorized
aud directed in the name and for SAID
Anne Arundel county, to subscribe for
aud hold shares Of the capital stock OF
the Baltimore and Virginia Railroad
Company, a body corporate, duly ineor-
porated 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 subserip-
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
ing interest at the rate of five per cent
per annum, and payable at period Of
not more than forty years from the GATE
of their issue, and TO each of the bonds
shall be attached coupons for the pay
ment Of interest therein, payable SEM.
annually. which said coupons shall be re-
ceived IN payment Of any county taxes
bv the County Commissioners Of the sa1d
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. 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
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 coun-
tn. 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 ease 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
he 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
sinking fund Tor the redemption of
said bonds at maturity, and statement
of the condition OF said sinking fund to
l 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, or
/ the stock or bonds of this State or of
i other States of the Union, or of the city
/ of Baltimore, OF 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-
L ty And the interest, income or dividends
/ derived from such investment shall also
Il be from time to time so invested by the
1 County Commissioners, and the said sink
1 ing fund and the Investment thereof shall
Il be kept sacred an6 inviolate for the re
1 demptiOn of said bonds as they shall ma
Il
/ ture, and any person or persons either
i as public officials or otherwise, who shall
/ divert or attempt to divert said sinking
/ fund, shall be guilty of q misdemeauor,
/ 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 6. And be enacted, That IN
| 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.
si0ners, 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, aa
| 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 che
| 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
i power at any time out Of any surplus
| funds belonging to the said county to
i 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 !, amounts
numbers and other particulars Of the said
bonds, respectively; provided, that nc
bonds shall be purchased unless all cou.
/ pons thereof, respectively, not then due
/ shall remain attached to such bonds al
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.
I 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 c0un-
/ ties to q 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 SIX
1 days in every week from the said Drum
/ Point to the city Of Baltimore, ove the
/ railroad OF the SAID Baltimore and ViF-
| ginia Railroad Company from the said
/ Drum Point to a point in said Anne
| Arundel county at least as far north "a
| Miilersville, and from thence either over
/ the railroad on the said Baltimore and