402

LAWS OF MARYLAND.

CHAPTER 211.

AN ACT to authorize the County Commissioners of Dor-
chester county to subscribe to the capital stock of the Cam-
bridge and Chesapeake Railroad Company.

May sub-
scribe to
stock of
Chesapeake
and Cam-
bridge R. R

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the County Commissioners of Dorchester county,
be and they are hereby required, in the name and for the said
county, to subscribe for and hold shares of stock in the Cam-
. bridge and Chesapeake Railroad Company, a corporation duly
incorporated under sections one hundred and fifty-eight to two
hundred and four of Article twenty-three of the Public Gen-
eral Laws of Maryland, to the amount of seventy-five thous-
and dollars, at the par value of said shares, to aid in construct-
ing the Cambridge and Chesapeake Railroad, beginning at the
town of Cambridge and ending at Fox Creek or immediate
vicinity, and the said County Commissioners shall subscribe
for said stock as soon as one mile of the line of the Cambridge
and Chesapeake Railroad shall have been graded.

To issue
bonds to
pay for sub-
gcription.

SEC. 2. And be it enacted, That for the purpose of meet-
ing the said subscription, the said County Commissioners be
and they are hereby authorized and empowered to issue bonds
in the name of the said county, in denominations not less than
fifty dollars nor more than five hundred dollars, bearing inter-
est at the rate of six per centum, and payable within a period
of not more than twenty years from the date of their issue ;
and to each of said bonds shall be attached coupons for the
payment of the interest thereon, payable semi-annually, which
said coupons shall be receivable in payment of any county
taxes, by the County Commissioners of the said county.

Exempt from
taxation.

SEC. 3. And be it enacted, That the said bonds shall be
exempt from county and municipal taxation; and the faith of
Dorchester county is hereby pledged for the redemption thereof.

Tax to pay
Interest ant
principal.

SEC. 4. And be it enacted, That the County Commissioners
of said county shall levy from year to year, on the assessable
property of said county, such sum or sums of money as shall
in their discretion be deemed necessary for the prompt pay-
ment of the principal and interest of the said bonds.

Collection of
tax.

SEC. 5. And be it enacted, That all sums levied on account of
the principal of said bonds, shall be collected by the collectors
or other officer who may be authorized by law, to collect the
State taxes in said county, or if there should be at any time no