shall be applied at the maturity of said bonds to
the payment or reduction of the pro rata, and if
at the maturity of said bonds, the said accumu-
lated sum shall be insufficient to discharge the
same, with the accrued and unpaid interest, then
the said company shall continue to pay the said
surplus net revenue to the said Treasurer and the
said Treasurer shall continue to receive and invest
the same until the same shall be sufficient to dis-
charge said bonds and the accrued interest in full,
and the money so received by the Treasurer shall
on no account be ever applied by the said Trea-
surer or the said State to any purpose whatso-
ever, unless in the judgment of the President and
Directors, who may from time to time be elected
under the provisions of this Act, the said surplus
or any part thereof may be absolutely necessary
for repairing extraordinary damages to said canal
or making improvements thereto, or to its dams,
locks or other works, in which case it shall be the
duty of the Treasurer of the State, with the con-
sent of the trustees of said bondholders, to pay to
said President and Directors upon their requisi-
tion out of said surplus such sums as they may
have expended in such extraordinary repairs or
necessary improvements.

Sec. 5. And be it enacted, That this Act shall
take effect whenever the same shall have been ac-
cepted by a majority of the stockholders of said
company at a general meeting, and the Board of
Public Works are hereby directed to lay this Act
before the annual meeting of the stockholders on
the first Monday of June, eighteen hundred and
sixty-seven, or at any meeting lawfully called for
the purpose, and at such meeting or meetings the
Board of Public Works are hereby directed to cast
the vote of the State of Maryland in favor of the
acceptance of this Act.

To take ef-
fect.

Sec. 6. And be it enacted, That this Act shall
continue in force unless repealed, altered or modi-
fied until the several preferred bonds and liabili-
ties of said company arising under the said Act of
eighteen hundred and forty-four, chapter two hun-
dred and eighty-one, shall be fully paid.

In force.