Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1913-10-02
Published by Authority.
CHAPTER 400.

SECTION l. Be It enacted py Tue Yen
oral Assembly Of Maryland, That the
county Commissioners of Anne Arundel
eotlty be and they are hereby authorized
aaa directed in the name and Tor sala
Anne Arundel county, to subscribe Tor
au.l hold shares of the capital stock OF
ihe Baltimore and Virginia hailroad
company, a body corporate, duly moor.
porated under the laws of the State OF
Maryland, to the amount Of two hundred
thousand dollars
SECTION .. And be enacted, That for
tle purpose of meeting the said suoscrll'-
tin the said County Commissioners OF
+ Anne Arundel county be and they are
hereby authorized and empowered 10 IS
sire bonds in the name Of the said county
n denominations of not less than nIty
an more than one thousand dollars, bear
iug interest at the rate of FIVE per cent
rcr annum, and payable at a period OF
not more than forty years from the date
oi their issue, and to each OF the bonds
shall be attached coupons for the pay
I aient of interest therein, payable semi
laiaually. which said coupons shall be re-
tcived in payment Of any county taxes
i +. the County Commissioners of the said
county.
/ SECTION 3. And be enacted, That the
said bonds shall be exempt from county
ind municipal taxation, and the faith of
/ Smne Arundel county is hereby pledged
Tor 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
mcnt of the principal and interest of said
bonds.
SECTION 5. 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-
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
uror, collector or other officer or officers
ms may be by law authorized TO collect
tho county taxes in said county, and shall
ba 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
| a 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, 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
Qua IoJ 'elBlS slql 10 s9nHsd!9!unm 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
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
Ifund, shall be guilty of a misdemeanor,
and upon indictment and conviction shall
be fined q sum not exceeding one thous-
land dollars, and confined in the county
Jail for term not exceeding one year.
SECTION g. 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
4 ! Lol1 kv- Hba ~ fa-
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 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 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,s, 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 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
days in every week from the said Drum
Point to the city Of Baltimore, owe. the
railroad of the said Baltimore and Vir-
GINA Railroad Company from the said
Drum Point to a point in said Anne
Arundel county at least as far north as
IMillersyille, and from thence either over
the railroad on the said Baltimore and
Virginia Railroad Company, If said rail
| road shall have been coustruefed and mt