JOHN LEE CARROLL, ESQUIHE, GOVERNOR

5

tion by the said Mayor and City Council of Cum-

berland.

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

When effec-

effect from the date of its passage.

tive.

Approved January 18, 1878.

CHAPTER 2.

AN ACT to empower the Mayor and Common

Council of Manchester to subscribe to the capital

stock of the Baltimore and Hanover Railroad

Company.

SECTION 1. Be it enacted by the General Assem-

bly of Maryland, That the Mayor and Common

Council of Manchester be and they are hereby au-

Subscribe to

thorized and empowered to subscribe to the capital

capital stock.

stock of the Baltimore and Hanover Railroad Com-

pany the sum of ten thousand dollars, and in the

discretion of said Mayor and Common Council any

further sum, not exceeding in the aggregate the sum

of fifteen thousand dollars ; in case a less sum than

fifteen thousand dollars may be subscribed to the

said capital stock, then the Mayor and Common

Council are authorized to endorse the bonds of said

company to any amount, which, with the amount

subscribed to said capital stock, shall not exceed in

the aggregate the sum of fifteen thousand dollars,

which endorsement shall be secured in such a man-

How secured

ner and on such terms as may be agreed upon be-

tween the said Mayor and Common Council and the

said Railroad Company.

SEC. 2. And be it enacted, That the said Mayor

and Common Council be and they are hereby au-

thorized and empowered to issue bonds of the Corpor-

Issue bonds.

ation of Manchester bearing interest not exceeding

six per centum per annum, payable semi-annually, for
such amount from time to time as may be required to

pay the amounts which may be subscribed to the said

capital stock, which bonds shall not be subject to

taxation for corporation taxes, and to levy on the as-

sessable property within the limits of said municipal