THOMAS SWANN, ESQUIRE, GOVERNOR. 271
State of Maryland on the property of the Kent
County Railroad Company to secure the payment
of six per centum interest out of the profits of the
work on the shares of the capital stock of the said
company, held by the State shall not be construed
to give a preference to the State over the bond-
holders of the said Company, and the said lien is
hereby expressly waived, postponed and deferred
in favor of the holders of the said bonds authorized
to be issued under this and the former Act, and
which may be issued for the construction and
equipment, of said road, and the necessary build-
ings and appurtenances to the same. |
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Sec. 4. And be it enacted. That the Comptroller
of the Treasury be, and he is hereby authorized and
directed to issue his warrant to the Treasurer for
the payment to the Kent County Rail road Company
for the State appropriation heretofore made for the
said company, as it may be called for by said com- |
Treasurer au-
thorized to pay
upon warrant. |
pany, provided the whole payment by the State in
any one year shall not exceed the one-fourth of the
subscription of stock by the State; and provided
further, that the said payment by the State shall
not exceed the amount which has been previously
paid by other parties, including contributions or
value of work, land or materials, as may, be shown
from time to time by the certificate, under seal of
the Treasurer of said company, countersigned by
the State Directors thereof. |
Provisos. |
Sec. 5. And be it enacted, That this Act shall
take effect from the date of its passage. |
In force. |
CHAPTER 151. |
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WHEREAS, the cultivation of science is highly con-
ducive to the glory and prosperity of States ;
and whereas the establishment of learned soci-
eties has been found greatly to promote this end
in other countries, and in most of the States of |
Passed Mar.
15, 1867. |
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