494

LAWS OF MARYLAND.

CHAPTER 285.

AN ACT to authorize and empower the County
Commissioners for Montgomery County to sub-
scribe to the Capital Stock of Turnpike Compa-
nies in Montgomery County.

Commission's
may subscribe
to turnpike.

SECTION 1. Be it enacted by the General Assembly
of Maryland, That the County Commissioners for
Montgomery County be and they are hereby author-
ized and empowered in their discretion to subscribe
to the capital stock of any turnpike company
already orgatiized or hereafter to be organized in
said county in the name and for the benefit of said
county a sum or sums of money not to exceed in
any case five hundred dollars for each mile of road
that may be added to any turnpike now in said
county, and a sum or sums of money not to exceed
five hundred dollars for each mile of turnpike
made and completed by any company hereafter to
be organized.

Issue bond.

Sec. 2. And be it enacted, That the County Com-
missioners for said county are hereby authorized
and empowered to issue the bonds of said county
to the amount of stock so subscribed, payable in
twenty-five years from the date thereof and bear-
ing interest not to exceed the rate of six per cent,
per annum and to negotiate the said bonds on the
most favorable terms or to pay over the same to
the President and Directors of said companies as
may be agreed upon or found to be most advan-
tageous to the interest of the said county, upon the
completion of each and every mile turnpike so sub-
scribed to and the County Commissioners of said

Levy annually

county are hereby authorized and empowered to
levy annually upon the assessable property of said
county, a sum or sums of money sufficient to pay
the interest upon said bonds as the same shall
accrue.

Entitled to
vote.

Sec. 3. And be it enacted, That the Commission-
ers of said county shall be entitled to be repre-
sented in all meetings of stockholders and shall
vote in all elections of Directors in all of said com-
panies, in proportion to the stock held by them in.
said companies respectively.