Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1913-09-08
Published by Authority.


Company
SrcrioN BE 4 enacted hy the Cen
ersl Assembly SO Maryland, That the
Courts Commissioners 81 Anne Arundel
county hc end they are hereby authorized
and directed 81 the nnne and for said
Anne Aruaael county. 80 subscribe FOR
and bold shares &c The capital stock OF
fhr Baltimore and Virginia Railroad
Cempanf & body corporate. duly incor
narrated unacr tho laws Of the State Of
Maryland. "a the amount az two hundred
thousand dollars
Srcroy p Aud be enacted. That for
the purpose IF meeting the said snbscTip
ton the said County Commissioners Of
Anne Arundel county he and they are
hereby authorized and empowered to is
sue bonds 81 the name of the said county
ia denominations Of not less than City
or more than one thousand dollars, bear
ing interest al the rate Of Eve per cent
pef aunum, and payable at a period Of
uot more than forty years from the date
81 their issue, and 70 each of the bonds
shall he attached coupons for tho pay
mcnt Of interest therein, payable semi
annually, which said coupons shall be re
ceiyed ia payment Of any county taxes
by the County Commissioners Of the said
county
SECTION 5. 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 10 year on the as.
sessible property Of said county such sum
ST money as shall in their discretion be
deemed necessary for the prompt pay
ment Of the principal and interest Of said
bonds.
SECTION ). 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 tune 20 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
1 The county taxes IN said county, and shall
I be subject to the order Of the County
/ Commissioners Of Anne Arundel county
when collected, and shall be by said Coun.
! ~ Commissioners deposited IN some saw
/ ings bank or trust company to meet the
! interest upon said bonds and TO create
q sinking fund tor the redemption Of
said bonds at maturity, and a statement
Of the condition or said sinking fund 10
be certified to by the president and sec
I rotary Of the savings bank or trust COM
pany where SAID sinking funds are de-
/ posted, shall be published each year dur
I sI lnsf, IN 6R n
4 pcrs 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
4 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 '7le9S s!ql 10 sogHedlgmnH io
purpose OF creating sinking fund Tor
the redemption Of said bonds at maturi-
4 ty. And the interest, income or dividends
derived from such investment shall also
bc from time to time 80 invested by the
County Commissioners, and the said sink
ing fund and the investment thereof shall
be kept sacred and inviolate for the re-
4 demption of said bonds as they shall ma
turc, and any person or persons either
as public officials or otherwise, who shall
divert or attempt to divert said sinking
fund, shall bo guilty of a misdemeanor,
and upon indictment and conviction shall
I be fined sum not exceeding one thous.
and dollars, and confined in the county
/ jail for a term not exceeding one year.
SECTION 6. And be enacted That un.
1 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
I 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 he
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 valne And the same to cancel
and destroy, after entering upon their
books the date OF such purchase and Of
such cancellation, and the dat S, amounts,
numbers and other particulars Of the said
bonds, respectively; provided, that no
bonds shall be purchased unless all eou-
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
&c Drum Point on the Chesapeake Bay
through Calvert and Anne Arundel couu-
ties 20 point in said Ammo 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, ovel the
railroad OF the said Baltimore and Nir-
GINA Railroad Company from the said
Drum Point to point in said Anne
Arundel county at least as far north as
Nr;4ferxv;gla ara from, thence aithrr over