171C ANNE ARUNDEL COUNTY. [ART. 2.

1872, ch. 245

271. The said bonds so to be issued shall be received by the
said company at par value thereof in payment of the shares of
stock so to be subscribed for.

1872, ch. 245. 1874, ch. 225.

272. The said bonds shall be delivered to the said company by
the said county commissioners in the instalments and upon the
conditions following, to wit: One-fourth only of the amount of
the said bonds shall be delivered as soon as one-third in length of
the line of the said railroad lying within the limits of the said
county shall have been graded; another fourth thereof when
two-thirds in length of the line of the said road within the limits
of the said county shall have been graded; another fourth thereof
when the whole of the line of the said road within the limits of
the said county shall have been fully graded, and the remaining
fourth thereof when the whole of the line of the said railroad
within the limits of said county shall have been fully built and
constructed and in running order; and the said bonds shall
not be issued or delivered to the said company in any greater in-
stalments nor at any earlier periods than as above specified; and
provided, that no bonds shall be issued under this sub-title of this
article, unless the said company shall by an amendment of its
charter agree and bind itself to run at least two through trains of
passenger cars, without change of cars between the city of Balti-
more and Annapolis, either over its own road or in connection
with the Annapolis and Elk Eidge railroad, if its road shall not
be extended to Annapolis. The words "lying within the limits
of said county" are designed to mean and apply to the entire
length of the line of said railroad extending from the corporate
limits of Baltimore city to the boundary line between Anne
Arundel and Calvert counties.

Ibid.

273. The county commissioners of the said county are author-
ized to sell or pledge the shares of stock, which may be so sub-