1916] OF THE SENATE. 79

sioners of Calvert county to subscribe to the capital stock
of the Baltimore and Virginia Railroad Company in the words
following, to wit:

"Section 1. Be it enacted by the General Assembly of
Maryland, That the County Commissioners of Calvert county
be and they are hereby authorized and directed, in the name of
and for said Calvert county, to subscribe for and hold shares
of the capital stock of the Baltimore and Virginia Railroad
Company, a body corporate, duly incorporated under the
laws of the State of Maryland, to the amount of one hun-
dred thousand dollars.

"Sec. 2. And be it enacted, That for the purpose of meet-
ing the said subscription, the said County Commissioners
of Calvert county be and they are hereby authorized and em-
powered to issue bonds in the name of said county in de-
nominations of not less than fifty or more than one thousand
dollars, bearing interest at the rate of five per centum per
annum, payable at a period of not more than forty years
from the date of their issue, and to each of the bonds shall
be attached coupons for the payment of interest thereon, pay-
able semi-annually, which said coupons shall be received in
payment of any county taxes by the County Commissioners
of the said county.

"Sec. 3. And be it enacted, That the said bonds shall be
exempt from county and municipal taxation, and the faith
of Calvert county is hereby pledged for the redemption thereof.

"Sec. 4. And be it enacted, That the County Commission-
ers of said county shall levy from year to year on the assess-
able property of said county such sum of money as shall, in
their discretion, be deemed necessary for the prompt pay-
ment of the principal and interest of said bonds.

"Sec. 5. And be it enacted, That all sums levied on account
of the principal of said bonds shall be collected by the county
treasurer of Calvert county, or other officer or officers who
may be authorized by law to collect the State tax in said
county; or if there should be, at any time, no State tax levied
by law, then in that case by such county treasurer, collector
or other officer or officers as may be by law authorized to col-
lect the county taxes in said county, and shall be subject to
the order of the County Commissioners of Calvert county,
when collected, and shall be by said County Commissioners
deposited in some savings bank or trust company to meet
the interest upon said bonds, and to create a sinking fund