Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1913-11-01
Published by Authority.
CHAPTER 500.

Company.
SEcrIoN !. Be it enacted 81 the Gen
/ eral Assembly of Maryland, That the
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
and hold shares of the capital stock Of
the Baltimore and Virginia Railroad
Company, 8 body corporate, duly incOr-
pOrated under the laws Of the State of
Maryland, TO the amount of two hundred
thousand dollars.
SECTION 2. And be enacted, That for
the purpose of meeting the said suhserip-
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 afty
OF more than one thousand dollars, bear
ing interest at the rate of Eve per cent
per annum, and payable at period of
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-
teived in payment Of any county taxes
3y the County Commissioners Of the said
county.
SECTION 3. And be enacted, That the
said bonds shall be exempt from county
and municipal taxation, ane the faith of
Anne Arundel county is hereby pledged
for the redemption thereof.
SECTION 4. AMI 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
II money as shall in their discretion be
leemed necessary for the prompt pay.
nent Of the principal and interest Of said
bonds.
SECTION 5. And be enacted, That all
sums levied on account of the principal
u said bonds shall be collected by the
county Treasurer Of Anne Arundel coun-
v, or other officer or officers who may be
authorized by law to collect the State
axes, in said county, OF il there should
ne at any time no State tax levied by law,
hen in that case by such County Treas
rer, collector or other officer or officers
IS may be by law authorized to collect
he county taxes in said county, and shall
oe subject TO the order of the County
commissioners of Anne Arundel county
ghen collected, and shall be by said COun-
y Commissioners deposited in some say.
ngs bank or trust company to meet the
interest upon said bonds, and 10 create
sinking fund Tor the redemption Of
said bonds at maturity, and a statement
II the condition OF said sinking fund TO
he certified to by the president and sec
etary Of the savings bank OF trust com
amy where SAID sinking funds are do
losited shall be published each year dur
ng the hrst week in January in the pa
'ers doing the county printing OF the
'aid County Commissioners may invest
,aid sinking fund in the purchase Of the
ponds hereby authorized to be issued, OF
he stock or bonds of this State or Of
ither States Of the Union, or OF the city
II Baltimore, or Of any Of the counties
IT municipalities of this State, for the
purpose Of creating a sinking fund for
he redemption Of said bonds at maturi-
Y. And the interest, income OF dividends
derived from such investment shall also
be from time TO time 80 invested by the
county Commissioners, and the said sink
ng fund and the investment thereof shall
Re kept sacred anc inviOlate for the re-
lemption Of said bonds as they shall ma
ure, and any person or persons either
as public officials OF otherwise, who shall
livert or attempt to divert said sinking
fund, shall be guilty Of misdemeanOr,
md upon Indictment and conviction shall
be fined a sum not exceeding one thous-
md dollars, and confined ia the county
Jail for a term not exceeding one year.
SECTION 6. And be enacted, That IN
ii the payment in full Of the whole
mount Of the principal of said bonds all
dividends which may be declared by the
4aid company upon the said sIOek 30 70
ne subscribed for shall so long as the said
stock shall continue TO be owned by the
ounty and held by the County Commits
'ioners, be paid by the said company to
,aid County Commissioners to be Invested
" them in the increase Of said sinking
und, is invested in stocks and bonds, as
provided in Section S, it shall be the duty
II the County Commissioners to publish
Turing the first week of January in each
ear, under their hands and seals, in fhs
newspapers published in Anne Arundel
ounty doing the county printing a full
tatement of the exact condition Of said
linking fund
SEcTIov 7. And be il enacted, That
h. said County Commissioners shall have
lower at any time out Of any surplus
uuds belonging to the said county to
purchase and retire any Of the bonds
ereby authorized to be issued at their
market value And the same TO cancel
md destroy, after entering upon their
looks the date of such purLbase and OF
such cancellation, and the dai amounts,
numbers and other particulars Of tue said
,0nds, respectively; provided, thst no
ionds shall be purchased unless ali con
-. 10 hon Ama
hall remain attached to such bonds at
lie time Of purchase
SECTION s. And he it enacted, That no
oonds shall be delivered 70 the said rail
Dad company by the said County Com.
aissioners until first the said railroad Of
De said company shall be built and com
'leteiy constructed, equipp ?, put II run
ing rder and open for regular passage
md freight service from the tide water
It Drum Point on the Chesapeake Bay
Trough Calvert and Anne Arundel eoun-
lee % q point IN said Anne Arundel
ounty at least as fai north as Miliers
,ille, on the Washington, Baltimore snd
Annapolis Electric Railway; and, second,
lntil regular through passenger snd
freight trains are running at least six
LAYS ID every week from the said Drum
Point to the city OF Baltimore, ove the
railroad Of the sand Baltimore and Viz
rinia Railroad Company from the said
Drum Point to a point in said Anne
Arundel county at least as far north az
Millersyille, and from thence either over
be railroad Oh the said Baltimore and
Virginia Railroad Company, If said rail
road shall have been constructed and put
in running order, from MiileSyille 70 the
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