CAROLINE COUNTY. 1679

its option to redeem the same in whole or in part, at any time after the
expiration of five years from the date of said issue; the interest of the said
bonds shall be paid semi-annually and each thereof shall have coupons
thereto attached representing each semi-annual instalment of interest; pro-
vided, however, that the said bonds shall be issued, sold and delivered as
is hereinafter stipulated; and provided, further, that such bonds shall not
be issued until the question of their issuance for the purpose in this sec-
tion declared shall have been submitted by the said County Commissioners
to the qualified voters of the said county, at the time and in the manner
hereinafter specified, and a majority of the votes cast by such qualified
voters shall have determined in favor of the issuance thereof for the pur-
pose aforesaid.

1890, ch. 390, sec. 2. 1896, ch. 412.

467. When and as soon as the said Delaware and Chesapeake Rail-
way shall have constructed that part of said branch railroad authorized by
Chapter two hundred and sixty of the Acts of eighteen hundred and eighty-
six, extending from a point at or near Greensborough to Federalsburg, and
shall have commenced to operate the same; provided said road shall have
commenced to operate the same; provided said road shall have been con-
structed and in operation on or before the first day of April, eighteen hun-
dred and ninety-eight, the said County Commissioners shall forthwith
cause the whole of said bonds to be issued and sold to the highest bidder
or bidders therefor; provided, that no bid shall be accepted at less than the
par value thereof; and when such sale shall have been effected the whole
proceeds thereof shall be forthwith paid over by the said County Commis-
sioners to the treasurer of the said Delaware and Chesapeake Railway
upon the execution and delivery of a mortgage, as in the next section auth-
orized and provided.*

1890, ch. 390, sec. 3.

468. When the said Delaware and Chesapeake Railway shall have
received notice that the said County Commissioners are prepared to pay
over to the said treasurer the moneys realized from the sale of the said
bonds, the said Delaware and Chesapeake Railway shall forthwith make,
execute, acknowledge, and contemporaneously with the receipt of the said
moneys, deliver unto the said County Commissioners a mortgage to the
County Commissioners of Caroline County of so much, and such part only
of the said branch railway as lies within the said county of Caroline for the
real debt of sixty thousand dollars bearing interest at the rate of two per
centum per annum, the said interest to be paid semi-annually and the prin-
cipal thereof at the expiration of thirty-eight years from the date of the
said mortgage, such mortgage shall constitute a first and specific lien on
that part only of said branch railroad including station-house or houses
thereon which shall lie within the limits of the said county of Caroline,

*Sec. 2 of ch. 412, 1896, reads as follows: All the Acts or parts of Acts, par-
ticularly ch. 390 of the Acts of 1890, and ch. 33 of the Acts of 1892, and all parts
thereof that are inconsistent with the provisions of this Act, are hereby repealed.