E. LOUIS LOWE, ESQUIRE, GOVERNOR.
415
Canal company, their bonds for the interest in arrear,
due by them respectively to this State; the said bonds
to bear interest from the first day of July next, payable
semi-annually, and the principal of said bonds to be
payable at the rate of twenty per cent. thereof, on the
first day of January, eighteen hundred and sixty, and
on the same day in each of the four succeeding years
thereafter, till the whole shall be paid; Provided however,
that the State does not by this act, nor by the
acceptance of said bonds, release or waive any lien or
security, which it now has upon the works and property
of said companies, for the payment of said arrears.
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Proviso.
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CHAPTER 296.
AN ACT to incorporate the Frostburg Water Company.
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Passed May
27, 1853.
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WHEREAS, a number of citizens
of Frostburg have
petitioned to this General Assembly that an act may be
passed to incorporate a company for the purpose of
supplying the town with pure water; And whereas,
the health and convenience of the inhabitants would
be greatly promoted thereby; Therefore,
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Preamble.
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SECTION 1. Be it enacted
by the General Assembly
of Maryland, That a company shall be established in
the town of Frostburg for said purpose, the capital
stock whereof shall be twenty thousand dollars, divided
into one thousand shares of twenty dollars each,
and that subscriptions to constitute said stock shall, on
the first Monday of July next, be opened in said town
under the superintendance of the following commissioners,
or a majority of them, viz: Thomas Beall,
Levi B. Porter and Samuel S. Porter, and that the
subscription books shall be kept open for the space of
three days, and if subscriptions to the amount of one-half
or more of the capital be taken, then the said
company shall be authorised to go into operation; and
the books may be re-opened for the completion of said
capital, at the pleasure of said company, upon the
same terms and conditions as are prescribed to the said
commissioners in taking subscriptions.
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Capital stock.
Commissioners.
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SEC. 2. And be it enacted,
That the said commissioners
shall give not less than two weeks notice of
the time and place of opening said subscriptions, in some
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Notice to be
given.
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