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The Annotated Code of the Public Civil Laws of Maryland, 1911
Volume 372, Page 95   View pdf image (33K)
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ART. XIII ] NEW COUNTIES. 95

often as there shall be any change in the rates of toll on any of the said
Works, to furnish the said Board of Public Works a schedule of such
modified rates of toll, and so adjust them as to promote the agricultural
interests of the State; they shall report to the General Assembly at each
regular session, and recommend such legislation as they may deem nec-
essary and requisite to promote or protect the interests of the State in
the said Public Works; they shall perform such other duties as may
be hereafter prescribed by Law, and a majority of them shall be compe-
tent to act. The Governor, Comptroller and Treasurer shall receive no
additional salary for services rendered by them as members of the Board
of Public Works. The provisions of the Act of the General Assembly
of Maryland of the year 1867, chapter 359, are hereby declared null
and void.

Sec. 3. The Board of Public Works is hereby authorized to exchange
the State's interest as Stockholder and Creditor in the Baltimore and
Ohio Railroad Company for an equal amount of the bonds or registered!
debt now owing by the State, to the extent only of all the preferred stock
of the State on which the State is entitled to only six per cent, interest,
provided such exchange shall not be made at less than par, nor less
than the market value of said stock; and the said Board is authorized,
subject to such regulations and conditions as the General Assembly may
from time to time prescribe, to sell the State's interest in the other
Works of Inernal Improvement, whether as a Stockholder or a Creditor,
and also the State's interest in any banking corporation, receiving in
payment the bonds and registered debt now owing by the State, equal
in amount to the price obtained for the State's said interest; provided,
that the interest of the State in the Washington Branch of the Balti-
more and Ohio Railroad be reserved and excepted from sale; and pro-
vided further, that no sale or contract of sale of the State's interest in
the Chesapeake and Ohio Canal, the Chesapeake and Delaware Canal,
and the Susquehanna and Tidewter Canal Companies shall go into
effect until the same shall be ratified by the ensuing General Assembly.
[Sec. 3. The Board of Public Works is hereby authorized, subject
to such regulations and conditions as the General Assembly may from
time to time prescribe, to sell the State's interest in all works of internal
improvement, whether as a Stockholder or a Creditor, and also the
State's interest in any banking corporation, receiving in payment the
bonds and registered debt now owing by the State, equal in amount to
the price obtained for the State's said interest.]*

ARTICLE XIIL

NEW COUNTIES.

Section 1. The General Assembly may provide, by Law, for organ-
izing new Counties, locating and removing county seats, and changing
county lines; but no new county shall be organized without the consent

*Thus amended by Act 1890. Ch. 362, and ratified by the people November
3, 1891.

 

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The Annotated Code of the Public Civil Laws of Maryland, 1911
Volume 372, Page 95   View pdf image (33K)
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