The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1922-08-04
PUBLIC GENERAL LAWS


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 (s690.00OD 10 the Havre de
Grace and Perryville Bridge Company
body corporate Tor to its successors
n INTEREST," for the said bridge. land.
roads. approaches. rights, franchises
aud easements of said Company Cor Its
successors in interest and if said
Havre de Grace and PerryVille Bridge
Company Cor its successors in inter
est shah in writing accept within
twenty days thereafter said offer OF
the State of Maryland and shall give
said State of Maryland Il written OPP
ton of purchase for ninety days a
sum not exceeding Six Hundred and
Ninety Thousand Dollars (S690,00Gl
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 If SAID
Havre de Grace and Perryville Bridge
Company Tor its successors in inter
est 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-
breaches. rights, franchise. and ease
ments by 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 ($690.0O0): and further
provided. that the State Roads Com
mission OF Maryland shall forthwith
institute the condemnation herein re-
ferred 10. if any of the things to be
done or agreed upon in this section
are not attained within the time limit
or limits herein set forth.
SIC. g. And be IL turther 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 "Susque-
hanna Bridge Loan of 1922" TO an
amount not to exceed seven hundred
thousand dollars (s700,000l. Said loan
shall be dated with a date of thirty
900 days after the date on which
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 (4k) per
centum per annum, and the said in
lClCsN Slloll OC poIu ohN
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 ga years after the issuance
thereof.
SEC. 4. And be il further enacted.
That in issuing the certificates of
indebtedness for said loan as herein
provided in Section 8. the Governor,
the Comptroller of the Treasury and
the Treasurer of this State. or a ma
jority of them. shall issue said certifi-
Gates according 10 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,-
000) or so much thereof as il may be
necessary to issue shall have been
issued. so that the entire principal
shall be redeemable as follows:
Series A-$50. 900 l year from date
fixed for said loan.
Series B-$5O.0O0 years from datH
fixed for said loan.
Series C-S50.U0 3 years from daus
fixed for said loan.
Series D-$50.00 years from dA e
fixed for said loan.
Series E-$50000 years from dR te
fixed for said loan.
Series F-$50.000 6 years from date
fixed for said loan.
Series G-s50,000 Z years from Nate
fixed for said loan.
Series 1850 900 years from Idate
fixed for said loan.
Series $4,000 years fromt date
fixed for said loan.
Series J-$50,O00 10 years from date
fixed for said loan.
Series K-$50.00G II years from date
fixed for said loan.
Series $4,000 IL years frHm date
fixed for said loan.
Series M-s50.000 IL years from date
fixed for said loan.
A lat