PHILLIPS LEE GOLDSBOROUGH, ESQ., GOVERNOR. 1195

SEC. 2. Be it enacted, That this act take effect from the
date of its passage.

Approved April 11, 1912.

CHAPTER 719.

AN ACT to incorporate the Southern Settlement and Develop-
ment Organization.

(Vetoed.)

CHAPTER 720.

AN ACT to authorize and direct the County Commissioners of
Calvert County to subscribe to the capital stock of the Bal-
timore and Virginia Railroad Company.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the County Commissioners of Calvert County be
and they are hereby authorized and directed, in the name of
and for said Calvert county, to subscribe for and hold shares
of the capital stock of the Baltimore and Virginia Railroad
Company, a body corporate, duly incorporated under the laws
of the State of Maryland, to the amount of one hundred thou-
sand dollars.

SEC. 2. And be it enacted, That for the purpose of meeting
the said subscription the said County Commissioners of Calvert
County be and they are hereby authorized and' empowered to
issue bonds in the name of said county, in denominations of
not less than fifty or more than one thousand dollars, bearing
interest at the rate of five per cent, per annum, payable at a
period of not more than forty years from the date of their
issue, and to each of the bonds shall be attached coupons for the
payment of interest thereon, payable semi-annually, which said
coupons shall be received in payment of any county taxes by
the County Commissioners of the said county.

SEC. 3. And be it enacted, That the said bonds shall be
exempt from county and municipal taxation, and the faith of
Calvert county is hereby pledged for the redemption thereof.

SEC. 4. And be it enacted, That the County Commissioners
of said county shall levy from year to year on the assessable
property of said county such sum of money as shall in their dis-
cretion be deemed necessary for the prompt payment of the
principal and interest of said bonds.