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LAWS OF MARYLAND.
Ohio Canal Company by the act of incorporation, and deciding
agreeably to the act of congress passed at December session,
eighteen hundred and twenty-four, that the canal as located by
the board of public works under the authority of this act, may
be cut without impeding or injuring the navigation of the Chesapeake
and Ohio Canal: And provided also, that the board of
public works shall previously ascertain and certify to the executive,
the practicability of connecting by the canal described in
this act, the Chesapeake and Ohio Canal with the Patapsco river
at the city of Baltimore; and if the said board of public
works shall adopt for the said canal, a line wholly within the
state of Maryland, then the act of congress last mentioned in
the foregoing proviso, shall not be necessary to authorise the
subscriptions and expenditure aforesaid: And provided also,
that the executive shall previously be satisfied that the revenue
of the sum of money estimated by the United States' board of
engineers to be adequate to the completion of the eastern section
of the Chesapeake and Ohio Canal, after deducting the
amount of the subscriptions of the State of Maryland, and of
the United States herein provided to be made, hath been actually
subscribed by bona fide and competent subscribers. |
169
Dec. Ses. 1825. |
22. And be it enacted, That if at any
time hereafter a company
shall be formed for the purpose of making a canal from
the city of Baltimore, to York Haven, on the river Susquehannah,
of the dimensions contemplated in the report of the commissioners
to survey the practicability and probable expense of
a canal from the river Susquehannah to the city of Baltimore,
the faith of the state is hereby pledged to grant a charter to
such company with all, and singular the rights, privileges and
advantages as are granted to the company created by this act,
to extend the canal from the Potomac to the city of Baltimore,
called the Maryland canal; and the faith of the state is also
hereby pledged to subscribe for stock in said company to the
amount of five hundred thousand dollars; Provided, That such
subscription shall not be made until the executive of this state,
for the time being, shall be satisfied, that with the amount so to
be subscribed on the part of the state, the whole sum necessary
to the completion of the said canal hath been actually subscribed
by bona fide and competent subscribers. |
Canal from
Baltimore to
York Haven;
pledge to incorporate
and
to subscribe
$500,000. |
23. And be it enacted, That the treasurer
of the western
shore under the direction of the executive, shall be, and he is
hereby authorised and directed to negotiate for, and raise by
loan, as they may become payable for canal stock, or other improvements
hereinbefore contemplated under the provisions
of this act, the required sum or sums of money, at a rate
of interest not exceeding five per centum per annum, payable
quarter yearly; the whole of said loans to be redeemable at
the pleasure of the state, at any time after the first day of January,
in the year of our Lord, eighteen hundred and sixty. |
Treasurer
to negotiate
loan. |
22
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