ART. XII] PUBLIC WOEKS. 113

vent the establishment of tolls which shall discriminate against the in-
terest of the citizens or products of this State, and from time to time,
and as 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 agricul-
tural interests of the State; they shall report to the General Assembly at
each regular session, and recommend such legislation as they may deem
necessary 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 com-
petent to act. The Governor, Comptroller and Treasurer shall receive
no additional salary for services rendered by them as members of the
Beard of Public Works. The provisions of the Act of the General
Assembly of Maryland of the year 1867, chapter 359, are hereby de-
clared 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, in-
terest, 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 author-
ized, 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 Internal Improvement, whether as a Stockholder or a Cred-
itor, 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 Tidewater 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.]*

This section does not limit the power of the legislature. The board of
public works, in the absence of legislative authority, has no power to waive
or surrender a state's lien or to make a contract for a deferred lien on the

*Thus amended by act of 1890, chapter 362, and ratified by the people No-
vember 3, 1891.
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