522 LAWS OF MARYLAND.

	existing indebtedness, and finding it necessary for the proper accommodation of the business of the City of Baltimore, and its citizens, to make other improvements, and furnish better facilities at said ferry, and for this purpose to borrow more money, said company is unable to borrow money, because of the limited time during which it can exist under its aforesaid charter; and
Preamble.	WHEREAS, all corporations formed under the General Corporation Law of Maryland, are allowed to form themselves for a period of forty years, and it is but right therefore, that the same privilege should be granted to the said Broadway and Locust Point Steam Ferry Company of Maryland, to enable it to carry out the purposes of its creation, and subserve the public welfare, by providing a first-class steam ferry for the harbor of Baltimore; therefore,
Term of exist-ence. Proviso.	SECTION 1. Be it enacted by the General Assembly of Maryland, That the term of existence of the Broadway and Locust Point Steam Ferry Company of Maryland, be and the same is hereby extended for an additional period of twenty years from the expiration of the twenty years mentioned as the term of its existence in the twelfth section of its charter, being the act of the General Assembly of Maryland of eighteen hundred and sixty-eight, chapter one hundred and eighty-seven; provided, the said Broadway and Locust Point Steam Ferry Company shall within a period of four years from the passage of this act, place on the line of said ferry a new and complete steam ferry-boat, possessing sufficient capacity and all the conveniences necessary for the accommodation of the public, and within nine years after the passage of this act, a second boat of the same character, for the same purpose, otherwise this act shall be void and of no effect.
	Approved April 8, 1876.