116

LAWS OF MARYLAND.

CHAPTER 67.

AN ACT to enlarge the powers of the County Commis-

sioners of Talbot County so as to enable them to issue

bonds of the county for an amount sufficient to raise a

sum of money to take up and pay off the bonds of the

county issued on account of the subscription by Talbot

County to the capital stock of the Maryland and Dela- "

ware Railroad Company and maturing on the first day of

April, eighteen hundred and ninety-two.

WHEREAS, The County Commissioners of Talbot County,

in pursuance of the act of the General Assembly of Mary-

land, passed at January session, eighteen hundred and

sixty-seven, chapter one hundred and ninety-one, issued

bonds of Talbot County to the amount of fifty-five thousand

Preamble

dollars for the purpose of raising a sum of money to enable

the County Commissioners of said county to pay the sub-

scription of Talbot County to the capital stock of the Mary-

land and Delaware railroad Company, a corporation duly

incorporated under the laws of Delaware and Maryland for

the purpose of building a railroad from Smyrna, in the

State of Delaware to Oxford in Talbot County in the

State of Maryland, then in course of construction ; and

WHEREAS, the said bonds issued as aforesaid, will

Preamble

become due and payable on the first day of April, in the

year eighteen hundred and ninety -two, and the said County

Commissioners will be unable to obtain a sufficient sum of

money from taxation to pay all of said bonds at maturity,

therefore,

SECTION 1. Be it enacted by the General Assembly of

To borrow

Maryland, That the County Commissioners of Talbot

sums of

County are hereby authorized and empowered to borrow

money

such sum or sums of money on the credit of said county as

may be sufficient to pay off the bonds of Talbot County

which were issued by said county to aid in the construction

of the Maryland and Delaware railroad, falling due on

the first day of April in the year eighteen hundred and

ninety-two, and to issue coupon bonds therefor (having first.

applied the money arising from the sinking fund invest-

ments applicable to the redemption of said bonds so far as

the same, in their judgment, may be practicable, to the

payment of said maturing obligation), in sums of not less

than one hundred dollars, nor more than one thousand

dollars, to be signed by the president of the Board of County
Commissioners of Talbot County, and to bear interest at a