114

STATE OF MARYLAND.

CHAP. 90.

CHAPTER 90.
AN ACT to authorize the County Commissioners of Talbot
County to issue bonds of the said county to the amount of
twenty-five thousand dollars, for the purpose of providing
the money to pay the bonds of said county issued on the
first day of April, in the year eighteen hundred and ninety-
two, and known as the Railroad Redemption Loan Bonds,
and also for the purpose of liquidating in full the floating
debt of said county.

WHEREAS, The County Commissioners of Talbot county,
in pursuance of the power and authority in them vested by

Preamble.

chapter sixty-seven of the Acts of the General Assembly of
Maryland, passed at the January Session, in the year eighteen
hundred and ninety-two, issued bonds of Talbot county to the
amount of thirty-three thousand dollars to raise a sum of
money to pay bonds of said county then due and which had
been duly issued under the authority contained in an Act of
the General Assembly of Maryland, passed at the January
Session, in the year eighteen hundred and sixty-seven, to pay
the subscription of Talbot county to the stock of the Mary-
land and Delaware Railroad ; and,
WHEREAS, The said bonds issued as aforesaid may be paid
and cancelled at the option of the County Commissioners of

Preamble'

Talbot county on and after the first day of April, in the year
nineteen hundred and two, and there is now in the hands of
the County Commissioners of Talbot county a sinking fund of
the sum of fifteen thousand dollars available for the partial
payment and cancellation of the said bonds ; and
WHEREAS, There has been fou a number of years a floating
debt owed by Talbot county, which said debt has been gradu-

Preamble.

ally reduced during the last two years, and which now
amounts to the sum of seven thousand and one hundred
dollars, and which said debt can be more advantageously pro-
vided for and gradually paid off, with interest in the meantime,
at a lower rate than now is paid, if bonds of Talbot county
may be issued for the said debt.
SECTION 1. Be it enacted by the General Assembly of

Authorized
to borrow
money.

Maryland, That the County Commissioners of Talbot county
be and they are authorized and directed to borrow on the
credit of Talbot county the sum of twenty-five thousand
dollars, and to issue coupon bonds therefor in sums of one
thousand dollars, to be signed by the president of the County
Commissioners of Talbot county and attested by the clerk
thereof, and the corporate seal of the said County .Commis-