ELIHU E. JACKSON, ESQUIRE, GOVERNOR. 69
|
ties preliminary to the exercise of the aforesaid powers passed
|
|
|
|
at the January session, eighteen hundred and eighty-eight of
|
|
|
|
the General Assembly of Maryland, chapter three hundred and
|
|
|
|
seventy-six, and to Test other and additional powers in the
|
|
|
|
county commissioners of said counties relating to the purchase
|
|
|
|
of the capital stock of said Chester river bridge company.
|
|
|
|
WHEREAS by chapter three hundred and seventy-six, of the
|
|
|
|
acts of eighteen hundred and eighty-eight, the county commis-
|
|
|
|
sioners of Kent county and of Queen Anne's county respectively,
|
Preamble.
|
|
|
were authorized to purchase the bridge across Chester river at
|
|
|
|
Chestertown belonging to the Chester bridge company, and to
|
|
|
|
provide for the payment thereof by levies on the taxable inhabi-
|
|
|
|
tants of said counties, and to make said bridge a free public bridge
|
|
|
|
or thoroughfare; and
|
|
|
|
WHEREAS said Chester bridge company was designated in said
|
Preamble.
|
|
|
act the "Chester river bridge company ;" and
|
|
|
|
WHEREAS it is desired to correct the error in the name of said
|
|
|
|
Chester bridge company and to modify and change some of the
|
Preamble.
|
|
|
conditions of the purchase authorized by said act; now, therefore
|
|
|
|
SECTION 1. Be it enacted ly the General Assembly of Maryland,
|
|
|
|
That the county commissioners of Kent county and the county
|
|
|
|
commissioners of Queen Anne's county respectively, instead of pro-
|
|
|
|
viding for the payment of the capital stock and property, fran-
|
|
|
|
chises, rights and privileges of said Chester bridge company in
|
|
|
|
case of the purchase thereof in three equal annual instalments of
|
|
|
|
one, two and three years by levies as provided in said act to which
|
|
|
|
this is a supplement, be and they are hereby respectively author-
|
|
|
|
ized, empowered and directed to issue coupon bonds of their re-
|
Bonds.
|
|
|
spective counties, according to their respective proportions of the
|
|
|
|
sum necessary to purchase said capital stock, property, franchises,
|
|
|
|
rights and privileges as may be agreed on between them, in de-
|
|
|
|
nominations of not less than one hundred dollars, nor more than
|
|
|
|
five hundred dollars, and to an amount not exceeding their respec-
|
|
|
|
tive proportions of par value of the capital stock of said Chester
|
|
|
|
bridge company, or such other sums less than that as may be re-
|
|
|
|
quired to make said purchase, said bonds to bear interest at a rate
|
|
|
|
not exceeding six per cent, per annum payable annually, and to
|
|
|
|
mature and fall due as follows : one-third of the whole amount
|
|
|
|
thereof in eleven years from the date of issuing the same, one-third
|
|
|
|
thereof in thirteen years from the date of issuing the same, and the
|
|
|
|
remaining third thereof in fifteen years from the date of issuing
|
|
|
|
the same, and the bonds issued under this act shall not be liable to
|
To sell.
|
|
|
taxation for State, county, municipal or town purposes, and said
|
|
|
|
bonds issued by the county commissioners of Kent county shall be
|
|
|
|
signed by the president of said board of county commissioners and
|
|
|