652

LAWS OF MARYLAND.

CHAPTER 455.

AN ACT to authorize the County Commissioners of Mont-

gomery County to subscribe to the capital stock of turn-

pike companies in said county.

SECTION 1. Be it enacted by the General Assembly of

Turnpike

Maryland, That whenever two-fifths of the capital stock of

companies
in Mont-

any turnpike company in Montgomery County, chartered

gomery
County

and organized from aud after the passage of this act shall

have been subscribed for and taken by responsible bona fide

stockholders, the county commissioners of said county are

hereby authorized and empowered to subscribe for such

portion of the remaining three-fifths of the capital stock as

they, in their discretion, may deem proper in the name

and for the benefit of said couuty, and shall be entitled to

be represented at all meetings of the stockholders of said

company by the couuty commissioners for the time being,

or by such person or persons as may be duly authorized by

them provided said road or roads so subscribed to shall be

graded for a width of twenty feet, fourteen of which shall

be covered with stoue of an average depth of nine, inches;

provided also, that in accordance with the provisions of

article three, section fifty-four, of the constitution, this act

shall be published in the newspapers printed in said county

for two months before the next election for members of the

House of Delegates, and shall also be approved by a

majority of all the members elected to each House of the

General Assembly of Maryland at its next session after

said election.

SEC. 2. And be it enacted, That the county commissioners

County

of said county are hereby authorized to issue the bonds of

Commis-
sioners

the county to the amount of the stock so subscribed and to

may Issue
bonds

negotiate said bonds upon the most favorable terms ; pro-

vided they shall not be sold for less than par ; and the said

county commissioners are authorized to levy upon the

assessable property of the county an amount sufficient to

pay the annual interest upon said bonds and the principal

at maturity.

SEC. 3. And be it enacted, That this act shall take effect

Effective

from the date of its passage.

Approved April 7th, 1892.