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Proceedings and Acts of the General Assembly, March 30, 1868
Volume 142, Page 3152   View pdf image (33K)
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814

LAWS OF MARYLAND.

In force.

Sec. 7. And be it enacted, That this Act shall
take effect from the date of its passage.

Approved March 30, 1868.

 

CHAPTER 423.

AN ACT to authorize the Mayor, Aldermen and
Common Council of Frederick to subscribe to
the capital stock of the Frederick and Pennsyl-
vania Line Railroad Company, and to endorse
the bonds of said Company.

SECTION 1. Be it enacted by the. General Assembly

Subscribe to
capital stock.

of Maryland, That the Mayor, Aldermen and
Common Council of Frederick, be and they are
hereby authorized and empowered to subscribe to
the capital stock of the Frederick and Pennsylva-
nia Line Railroad Company, the sum of one hun-
dred and fifty thousand dollars, and in the discre-
tion of said Mayor, Aldermen and Common Coun-
cil, any further sum not exceeding, in the aggre-
gate, the sum of two hundred and fifty thousand
dollars ; and in case a less sum than two hundred
and fifty thousand dollars may be subscribed, to
the said capital stock, then the said Mayor, Alder-
men and Common Council are authorized to en-
dorse the bonds of said Company to any amount
which, with the amount subscribed to said capital
stock, shall not exceed in the aggregate the sum of
two hundred and fifty thousand dollars, which en-
dorsement shall be secured in such manner and
on such terms as may be agreed upon between the
said Mayor, Aldermen and Common Council, and
the said Railroad Company.

Issue bonds.

Sec. 2, And be it enacted, That the said Mayor,
Aldermen and Common Council, be and they are
hereby authorized and empowered to issue bonds of
the corporation of Frederick, bearing interest not
exceeding six per centum per annum, payable semi-



 
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Proceedings and Acts of the General Assembly, March 30, 1868
Volume 142, Page 3152   View pdf image (33K)
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