32

LAWS OF MARYLAND.

mained in the town, the said sum of money was
advanced to the corporate authorities and citizens
then present, to save said town from being sacked,
with the understanding, and upon the written con-
dition, that the same should he refunded to the
President and Directors of the Frederick County
Bank, to the Central Bank of Frederick, to the
Farmers' and Mechanics' Bank of Frederick
County, to the Frederick Town Savings Institu-
tion, and to the Franklin Savings Bank, advancing
said sum, at the earliest practical moment by taxa-
tion; and whereas, said banking institutions are
willing to assume a fair and just portion of said
loss,

Repealed.

SECTION 1. Be it enacted by the General Assembly
of Maryland, That the act passed at the January
session, eighteen hundred and sixty-five, entitled,
an Act to amend article eleven of the Code of Pub-
lic Local. Laws, entitled, " Frederick County, " is
hereby repealed and re-enacted with amendments,
as follows:

Authorised
to issue bonds.

Sec. 2. Be it enacted by the General Assembly of
Maryland, That the Mayor, Aldermen and Com-
mon Council of Frederick he, and they are hereby
authorized to issue the bonds of the corporation to
the Frederick County National Bank, to the Cen-
tral National Bank of Frederick, to the Farmers'
and Mechanics' National Bank of Frederick Coun-
ty, to the Frederick Town Savings Institution, and
to the Franklin Savings Bank, for one-half of the
amount of money that may be due said hanking
institutions on the first day of February, eighteen
hundred and sixty-six, on the loan made to said
corporation July the ninth, eighteen hundred and
sixty-four; said bonds to be issued to the banking
institutions in the respective proportions in which
they severally advanced said money; said bonds
maturing thirty years alter the date thereof, and
payable at the option of the Mayor, Aldermen and
Common Council, bearing interest, payable semi-

Proviso.

annually at the rate of six per centum per annum;
provided, that the capital stock of said batiks and
savings institutions shall be exempt from taxation
under this act.

Authorised
to levy and
collect taxes.

Sec. 3. And be it enacted, That the said Mayor,
Aldermen and Common Council be, and they are
hereby authorized and empowered to levy and col-