Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1913-09-16
Published by Authority.
nHAPTER 2an

1 company.
sEcrloE i Be it enacted by the Gen
| eral Assembly of Maryland, That the |
I County Commissioners Of Anne Arundel |
county be and they are hereby authorized |
/ and directed in the name and for said |
/ Anne Arundel county, to subscribe for |
I aud hold shares of the capital stock of
\ the Baltimore and Virginia Railroad |
] Company, q body corporate, duly iueor
p0rate1 under the laws Of the state Of
MARYLAND, TO the amount Of two hundred
thousand dollars
SECTION 2. And he enacted, That for
I tie purpose of meeting the said subserip
ton the said County Commissioners Of
I Anne Arundel county be and they are
I hereby authorized and empowered to is
/ sue bonds in the name Of the said county
/ III denominations Of not less than fifty
or more than one thousand dollars, bear
7 ing interest at the rate Of five per cent
per annum, and payable at period of
I not more than forty years from the date
of their issue, and TO each Of the bonds
shall be attached coupons for the pay
nent of interest therein, payable semi
annually. which said coupons shall be re-
ceived in payment Of any county taxes
9y the County Commissioners Of the said
county.
SECrI0N 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
T 4 fha
mont 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 eoun-
tn, 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 may be by law authorized to collect
the county taxes in said county, and shall
TO subject 10 the order of the County
Commissioners Of Anne Arundel county
when collected, and shall be by said Coun-
tv Commissioners deposited in some saw
ngs 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 a statement
of the condition OF said sinking fund to
be certified to by the president and see
rotary Of the savings bank or trust COM
pany where SAID sinking funds are de-
posted, shat be published each year dur
ing the trst 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
aql ,IoJ '9lUlS s!ql 70 sopHGd!9!unIu 10
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 inyiolate for the re-
} dempton of said bonds rs they shall ma
ture, and any person or persons either
ms public officials or otherwise, who shall
q divert or attempt 10 divert said sinking
fund, shall BIO guilty Of misdemeanor
and upon indictment and conviction shall
Nt nUGQ q SUM Alb NAAIENAAAE b4~ t-tNNe
, and dollars. and confined in the county
Jail for term not exceeding one year
SECTION q. And be enacted, That I'M
III 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 50 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 tho county printing o full
statement of tho 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 8, amounts,
numbers and other particulars Of the said
bonds, respectively; provided, that no
bonds shall be purchased unless all cou-
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 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 TAR 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
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
Millersyille, 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
| =, ,-,irrinfr order from, AfiIlarzviIIa RI the