CHAPTER 159.
AN ACT to amend the charter of the Baltimore
and Drum Point Railroad Company by increasing
the number of the directors of said company,
authorizing the said company to mortgage its
property and franchises, and to build and construct
bridges over navigable waters.
SECTION 1. Be it enacted by the General Assembly of
Maryland, That the number of directors of the Balti-
more and Drum Point Railroad Company be and
the same is hereby increased to twelve, of whom
such number, as may be provided for by any Act
of Assembly or ordinance ' of the Mayor and City
Council of Baltimore, shall be elected by the Mayor
and City Council of Baltimore.
Sac. 2. And be, it enacted, That until the next regu-
lar election of directors of said company, the present
Board of Directors be and they are hereby authorized
to elect the additional number of directors over and
above the present number of said directors, except
such number of said directors as may be elected by
the Mayor and City Council of Baltimore, as above
provided for.
SEC. 3. And he it enacted. That the President and
Directors of the said company are hereby authorized
and empowered to execute a mortgage or mortgages,
or deed or deeds of trust of any or of all of the real
and personal property of every kind and description
belonging to the said company, together with the
franchises of the said company, for the purpose of
securing the payment of any bonds or certificates
of indebtedness to be issued by the said company,
and the interest on the same, for which interest
coupons may be attached to the said bonds, and
such bonds and coupons may be made payable upon
such terms and in such times as tire said President
and Directors may deem proper.
SEC. 4. And be it enacted. That the said company
be and is hereby authorized and empowered to build
and construct and maintain such bridge or bridges
|
Number of
Directors in-
creased.
Present
Board autho-
rized to elect.
Execute
mortgage or
deed of trust.
Build and
construct
bridges.
|
