Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1913-09-30
Published by Authority.
CHAPTER $50.

eral Assembly of Maryland, Ihat the
County Commissioners Of Anne Arundel
county be and they are hereby authorized
snd directed in the name and for sand
Anne Arundel county, TO subscribe for
aud hold shares Of the capital stock of
ZEE Baltimore and Virginia Railroad
Company, body corporate, duly incor-
farated under the laws of the State of
Aiarvland. to the amount of two hundred
thousand dollars.
SECTION .. And be enacted, That for
the purpose Of meeting the said subserip-
iion 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
n denominations of not less than fifty
ar more than one thousand dollars, bear
mo interest at the rate of five per cent
Ter annum, and payable at a period OF
not more than forty years from the date
If their issue, and to each of the bonds
shall be attached coupons for the pay
ment of interest therein, payable semi
annually, which said coupons shall be re-
seiyed in payment of any county taxes
,y the County Commissioners of the said
,ounty.
SECTION 5. And be enacted, That the
said bonds shall be exempt from county
md municipal taxation, and the faith of
Nnne 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-
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 case 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 Arundel county
when collected, and shall be by said C0un-
ty Commissioners deposited in some saw
ings bank or trust company to meet the
interest upon said bonds, and to create
sinking fund for the redemption of
said bonds at maturity, and 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 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
| 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
qua IoJ 'slglS s!ql 10 s9qHBd!9!unw &c
purpose of creating a sinking fund for
| 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 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 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 a sum not exceeding one thous
and dollars, and confined in the county
| Jail for a term not exceeding one year.
SECTION o. And be enacted, That un
/ 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
| 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 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 the
newspapers published in Anne Arundel
county doing the county printing 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 70
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 theiI
| books the date of such purchase and OF
| such cancellation, and the dates, amounts
numbers and other particulars of the said
bonds, respectively; provided, that nc
bonds shall be purchased unless all eOu
pons thereof, respectively, not then due
| shall remain attached to such bonds al
the time of purchase.
SECTION 8. And be it enacted, That nc
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 far north as Aillers
vile, on the Washington, Baltimore and
Annapolis Electric Railway; and, second
until regular through passenger and
| freight trains are running at least si1
| days in every week from the said Drum
| Point to the city of 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 as far north as
MiIlersville, 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
city of Baltimore, OF if said railroad shall
| NOT then have been constructed and put