Evening capital and Maryland gazette., 1913-10-08
Published by Authority.
CUAPTFR 3oO.

oral Assembly Of Maryland, That the
County Commissioners of Anne Arundel
comfy be and they are hereby authorized
aud directed in the name and for SAID
Annc Arundel county, to subscribe for
ana hold shares Of the capital stock OF
the Baltimore and Virginia Railroad
Company, a body corporate, duly ineor-
narrated under the laws of the State of
MARYLAND. 10 the amount Of two hundred
thousand dollars.
SECTION .. And be enacted That for
thc purpose of meeting the said subserip--
lion The said County Commissioners OF
Anne Arundel county be and they are
hereby aut rized and empowered to IS
s,,e bonds In the name of the said county
I'm denominations of not less than fifty
nr more than one thousand dollars, bear
ni.y interest at the rate of five per cent
l.cr annum, and payable at period OF
not more than forty years from the date
IF their issue, and TO each of the bonds
shall he attached coupons for the pay
mrut of interest therein, payable semi
annually, which said coupons shall be re-
fciyed in payment of any county taxes
nv the County Commissioners of the said
county.
SECTION 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
scssible 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 3. 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 may 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 Coun-
tv 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
retary 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
or municipalities of this State, for the
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
| inc 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 6. 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 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 dates, 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 8. 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 eoun-
| ties to a 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-
ginia Railroad Company from the said
Drum Point to a point IN said Anne
Arundel county at least as far north as
| Millersville. 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
eitv of Baltimore. or If said railroad shall
NOT then have been constructed and put