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Session Laws, 1912
Volume 370, Page 550   View pdf image
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550 LAWS OF MARYLAND. [Ch. 390]

CHAPTER 389.

AN ACT to reimburse Josiah A. Ramsburg, of Frederick
county, for trees destroyed and appropriating a sum of money
therefor.

(Vetoed.)

CHAPTER 390.

AN ACT to authorize and direct the County Commissioners of
Anne Arundel County to subscribe to the capital stock of
the Baltimore and Virginia Railroad Company.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the County Commissioners of Anne Arundel County
be and they are hereby authorized and directed in the name
and for said Anne Arundel county, to subscribe for and hold
shares of the capital stock of the Baltimore and Virginia Eail-
road Company, a body corporate, duly incorporated under the
Laws of the State of Maryland, to the amount of two hundred
thousand dollars.

SEC. 2. And be it enacted, That for the purpose of meeting
the said subscription the said County Commissioners of Anne
Arundel County be and they are hereby authorized and empow-
ered to issue bonds in the name of said county in denominations
of not less than fifty or more than one thousand dollars, bear-
ing interest at the rate of five per cent, per annum, and 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 therein, 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
Anne Arundel county is hereby pledged for the redemption
thereof.

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

SEC. 5. And be it enacted, That all sums levied on account
of the principal of said bonds shall be collected by the county

 

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Session Laws, 1912
Volume 370, Page 550   View pdf image
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