300

LAWS OF MARYLAND.

proceeds, this State in addition to said annuity of fifteen thou-

sand dollars redeemable as herein provided, shall receive such

part of the said twenty-five per cent, of the principal of said pre-

ferred construction bonds as the holders thereof shall decline to

accept in settlement of their claims.

SEC. 1. And be it further enacted, That upon the execution of

the lease authorized by this act the said Washington and Cum-

berland railroad company shall execute and deliver to the treas-

urer a bond to this State in the penalty of six hundred thousand

Bond.

dollars, conditioned for the faithful performance of the condi-

tions and stipulations of said lease, with sureties to be approved

by the board of public works, and the obligation of said bond

shall cease upon the completion of the said railroad from Cum-

berland to Georgetown, and upon the payment by said Washing-

ton and Cumberland railroad company to this State of three

hundred thousand dollars in redemption of the annuity of fifteen

thousand dollars hereinbefore mentioned; and it is also declared

that in case the said Washington and Cumberland railroad com-

pany shall fail to complete the said railroad from Cumberland to

Georgetown within the time limited in this act, due allowances

being made for delays occasioned by the legal proceedinge here-

Mar re-

in before provided for, then it shall be lawful for the board of

enter.

public works to institute appropriate proceedings in the name of

this State for a re-entry upon said property authorized to be

leased by this act, and upon the recovery of a final judgment in

favor of this State in such proceedings this lease and all rights

thereunder shall cease and determine.

SEC. 8. And be it enacted, That upon the passage of this act

and its acceptance by said Washington and Cumberland railroad

Taxation.

company, all the property and effects of said company including

road bed, lands, tracks, buildings, rolling stock and personal

property, shall be liable to assessment and taxation for State and

county purposes in the same manner and to the same extent that

other real estate, buildings and personal property is now liable to

taxation under the laws of this State.

SEC. 9. And be it further enacted, That under no circumstances

Counsel

shall the State of Maryland, or its board of public works, be re-

fees.

sponsible legally or equitably for any costs or counsel fees in-

curred in litigation growing out of this act or the lease, transfer

or assignment hereby authorized, or for the expense of counsel

fees for making such lease, transfer or assignment.

SEC. 9. And be it further enacted, That this act shall take

effect from the date of its passage, and the board of public works

State vote

shall cast the vote of the State as a stockholder in said Chesa-

peake and Ohio canal company in favor of accepting this act,

and of the execution and delivery of the lease hereby authorized

to be made.

Approved March 27, 1890.