402
Bonds to be
received at
par value.
Bonds to be
delivered to
Company on
conditions.
Proviso.
Authorized
to sell and
pledge.
Authorized
to vote stock.
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LAWS OF MARYLAND.
shall remain attached to such bonds at the time of
such purchase.
SEC. 8. And be it enacted. That the said bonds, so
to be issued, shall be received by the said company
at the par value thereof, in payment of the shares of
stock so to be subscribed for.
SEC. 9. And be it enacted, That the said bonds shall
be delivered to the said company by the said County
Commissioners in the instalments and upon the con-
ditions following, to wit: one-fourth only of the
amount of the said bonds shall be delivered as soon
as one-third in length of the line of the said rail-
road, lying within the limits of the said county,
shall have been graded; another fourth thereof when
two-thirds in length of the line of the said road,
within the limits of said county, shall have been
graded; another fourth thereof when the whole of
the line of the said road, within the limits of said
county, shall have been fully graded, and the remain-
ing fourth thereof, when the whole of the line of the
said railroad, within the limits of said county, shall
have been fully built and constructed and in miming
order; and that the said bonds shall not be issued or
delivered to the said company in any greater instal-
ments, nor at any earlier periods, than as above spe-
cified; and, provided, that no bonds shall be issued un-
der this Act unless the said company shall, by an
amendment of its charter, agree and bind itself to
run daily at least two through trains of passenger
cars, without change of cars, between the City of Bal-
timore and Annapolis, either over its own road, or
in connection with the Annapolis and Elk Ridge
Railroad, if its road shall not be extended to An-
napolis.
SEC. 10. And be it enacted, That the County Com-
missioners of the said county, be and they are hereby
authorized to sell or pledge the shares of stock which
may be so subscribed for, at not less than their par
value, and apply the proceeds thereof to the payment
of said bonds or the interest thereon.
SEC. 11. And be it enacted. That the County Com-
missioners of the said county, or a majority of them,
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