390
Rate of tax.
Tax-payers
may transfer
and deposit.
Exemption.
Contract in
writing.
Pleadable in
bar.
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LAWS OF MARYLAND.
the said company, either in person or by proxy, un-
der such conditions as the private stockholders may
be authorized to vote their individual stock.
SEC. 9. And be it enacted, That the rate of tax to
be levied upon the assessable property of said county
for the payment of the principal and interest of the
said bonds, shall not exceed in any one year thirty-
five cents in the one hundred dollars.
SEC. 10. And be it enacted. That it shall be lawful
at any time for any tax-payer of said county, to trans-
fer to, and deposit with the County Commissioners
of said county, an amount of the said bonds equal to
one-twentieth part of the assessable property of such
tax-payer, and all real estate at that time owned by
him, and upon making such transfer and deposit,
such tax-payer shall be were thereafter, fully and to
all intents and purposes, released, exempted, acquit
and discharged from any and all further tax or assess-
ment to be thereafter levied, on account of the prin-
cipal and interest of said bonds, hereby authorized
to be issued in payment of said subscription, and the
said County Commissioners shall execute and deliver
to every tax-payer making such transfer and deposit,
a receipt, (agreement,) and contract in writing, signed
by the said County Commissioners on behalf of the
said county, stating the receipt of such bonds, to such
specified amount, and declaring, contracting and
agreeing that in consideration thereof, such tax-payer,
and all real estate at that time owned by him are,
and shall be forever thereafter fully released, exemp-
ted, and discharged from any further payment of
taxes, on account of the principal and interest of the
bonds authorized by this Act to be issued, in pay-
ment of the said subscription to the capital stock
of said company, and from any and all further, or
other tax, or assessment on account of any further, or
other subscription, or aid given, or to be given by
said county on account of the construction of said
railroad, and such receipt, agreement and contract
shall be good and pleadable in bar of any action,
suit, or proceeding which may be instituted for the
recovery or collection from such tax-payer, or out of
said real estate, of any and all such tax, or assess-
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