ODEN BOWIE, ESQUIRE, GOVERNOR.

481

CHAPTER 275.

AN ACT to provide fur the renewal of certain
bonds and certificates of indebtment of the State
already due, and of others falling due in the
year eighteen hundred and seventy, and to pro-
vide for the sale of certain stocks of the State,
to pay the holders of said bonds who may de-
mand payment thereof.

SECTION 1. Be it enacted by the General Assembly
of Maryland, For the purpose of replacing and
more effectually securing the payment of the in-
terest upon the outstanding sterling five per cent,
debt, created by the Act of eighteen hundred and
thirty-eight, Chapter three hundred and eighty-
six; and the five per cent, converted debt, under
Chapter forty-one of the Acts of eighteen hundred
and forty-seven, which became due in eighteen
hundred and sixty-five, and the outstanding six
per cent, debt, created by the Act of eighteen hun-
dred and thirty-four, Chapter two hundred and
forty-one, maturing in the year eighteen hundred
and seventy, the Treasurer of the State is hereby

Provision for
paying State
interest.

authorized and directed to issue new bonds or cer-
tificates of debt, countersigned by the Comptroller
of like amount, and bearing the same rate of in-
terest as the bonds for which they may be respec-
tively substituted, with coupons for the semi-an-
nual interest thereon, and redeemable in not less
than ten nor than fifteen years, which said new
bonds shall be numbered and lettered to corres-
pond with the bonds for which they are substituted;

such new and substituted bonds to be issued and
delivered, only at the option of the holders of the
said overdue and maturing bonds, and upon the
surrender thereof by the lawful holders.

Issue new
bonds.

Sec. 2. And be it further enacted, That the Comp-
troller and Treasurer are hereby authorized, with
the approbation of the Governor, to sell and dis-
pose of the Baltimore City six per cent, stock,
amounting to one hundred and fifty-four thousand
five hundred and fifty dollars, ($154,550,) belong-
ing to the State, and the State's stock in the Farm-
ers' National Bank of Annapolis, amounting to

31

Comptroller
and Treasurer
to pay.