ART. 5.] BALTO. AND DRUM POINT RAILROAD COMPANY. 595,

estate at that time owned by him; and upon making such transfer
and deposit, such taxpayer shall be forever thereafter fully, and
to all intents and purposes, released, exempted, acquitted and dis.
charged from any and all further tax or assessment to be there-
after levied on account of principal and interest of said subscrip-
tion ; and the said county commissioners shall execute and deliver
to every taxpayer making such transfer and deposit a receipt,
agreement and contract in writing, signed by said county com-
missioners on behalf of the said county, stating the receipt of
such bonds to such specified amount, and declaring, contracting
and agreeing that in consideration thereof such taxpayer, and all
real estate at that time owned by him, are and shall be forever
thereafter fully released, exempted and discharged from any fur-
ther payment of taxes on account of principal and interest of the
bonds authorized by this sub-title of this article to be issued in
payment of said subscription to the capital stock of said com-
pany, and from any and all further or other tax or assessments
on account of any further or other subscription or aid given or
to be given by said company on account of the construction of
said railroad; and such receipt, agreement and contract shall be
good and pleadable in bar of any action, suit or proceeding which
may be instituted for the recovery or collection from such tax-
payer, or out of said real estate, of any and all such tax or assess-
ments hereinbefore specified; and such release and exemption
shall have full force and validity to prevent the enforcement of
any and all such tax or assessment, or against the said real estate
in the hands of the heir, devisee or alienee of such taxpayer for-
ever, and the faith of Calvert county is pledged for the inviolate
maintenance and enforcement of such release and exemption; and
such bonds so transferred to and deposited with the said county
commissioners shall be forthwith cancelled and destroyed by
them after first entering upon the books of the said county com-
missioners the amounts of such bonds, the date of such transfer
and deposit, and the name of such taxpayer making the same;
provided, that no bonds shall be so received by the said county
commissioners, unless the coupons thereof not due at the time of
such transfer and deposit shall remain attached to such bonds
respectively.1

1 Adopted by the people on the 4th Monday of April, 1872—ratified and.
confirmed by Act of 1874, chapter 159.