Democratic messenger. [volume] (Snow Hill, Md.) 1869-1973, 1922-08-05
PUBLIC GENERAL LAWS


Service commission, ana the ATTORNEY
General OF Maryland be and they are
hereby constituted Commission for
the purposes OF this Section, and said
Commission is herewith authorized TO
make an offer on behalf OF the State
of Maryland in a Sum not exceeding
Six Hundred and Ninety Thousand
Dollars (S690.00 10 the Havre de
Grace and Perryville Bridge Company
body corporate Cor to its successors
in interest) for the said bridge. land.
roads. approaches. rights, franchises
and easements Of said Company Tor Its
successors in interest) and IL said
.Havre de Grace and Perryville Bridge
Company (or Its successors in inter
est) shall in writing accept within
twenty days thereafter said offer OF
the State Of Maryland and shall give
said State OF Maryland written op'
ton of purchase for ninety days at a
sum not exceeding Six Hundred and
Ninety Thousand Dollars (s690.000l
then the Board OF Public Works. as
hereinafter directed shall upon Motif
cation OF the receipt OF said option by
the Chairman of the State Roads Com
mission. at once proceed to sell said
Bonds as hereinafter directed for the
purpose OF acquiring by purchase said
bridge land, roads, approaches. rights.
franchises. and easements. But II said
Havre dc Grace and Perryville Bridge
Company Tor It's SUCCESSORS in inter
esD shall fail to accept the offer on
behalf OF the State OF Maryland and
fail to give the written option as here.
inbefore mentioned. then the said Com
mission Is hereby authorized to &C.
quire said bridge. land. roads. ap-
proaches. rights. franchise. and ease
ments bv condemnation in accordance
with the provisions Of Article 33A OF
the Annotated Code OF Maryland by
proceedings instituted in either the
Circuit Court for Hartford County or
the Circuit Court for Cecil County.
as the said State Roads Commission
shall elect: provided. that the cost OF
the said property shall not exceed the
sum OF Six hundred and ninety thou
sand dollars ($6eo.000): and further
provided. that the State Roads Com
mission Of Maryland shall forthwith
institute the condemnation herein re-
ferred to. II any of the things to bs
done or agreed upon In this section
are not attained within the time limit
or limits herein set forth.
SEC. 8. And be u further enacted
That for the purpose OF raising the
money necessary to carry out the pro-
visions OF this Act. loan is hereby
created TO be known as the "Sasque.
hanna Bridge Loan OF 1922" TO an
amount not to exceed seven hundred
thousand dollars (s700.0o0). Said loan
shall be dated with a date OF thirty
500 days after the date on which a
price Is determined for the purchase
of said bridge, either by agreement.
condemnation. or otherwise. and shall
bear interest at rate fixed by the
Governor. the Comptroller Of the
Treasury and the Treasurer of the
State. or a majority OF them. not to
exceed four and one-half (4h) per
centum per annum. and the said in
terest shall be paid semiannually, and
the said loan and every part thereof.
and the interest payable thereon. shall
be and remain exempt from State,
county and municipal taxation. and the
principal amount OF said loan shall be
paid upon the serial annuity plan here.
matter specified and all within four.
teen t1D years after the issuance
thereof.
SEC. 4. And be II further enacted
That in issuing the certificates OF
indebtedness for said loan as herein
provided in Section 3. the Governor
the Comptroller OF the Treasury and
the Treasurer OF this State. or a ma
jorlty OF them. shall issue said certifi.
Gates according To what Is known as
the serial annuity plan. and each series
as Issued shall be lettered. beginning
with the letter "A" and so down the
alphabet until the said amount Of
seven hundred thousand dollars ($700.-
bOOD or so mucn Thereon as II may Dc
necessary to ISSUE shall have beer
issued. 80 that the entire principal
shall be redeenahle as follows:
Series A-sEo 0oO year from date
fixed for said loan.
Series B-s50.n00 years from date
fixed for said loan.
Series C-s50 400 3 years from date
fixed for said loan.
Series D-$50.000 1 years from date
fixed for said loan.
Series E--s50.on ) years from date
fixed for said loan.
Series ESQ. ono s years from date
fixed for Eaid loan.
Series G-250.000 : years from date
fixed for said loan.
Series 1850. 600 s years from date
fixed for said loan.
Series $4,000 years from date
fixed for said loan.
Series 10000 10 years from date
fxed for said loan.
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