358
CHAP. 258.

LAWS OF MARYLAND.

redeemable, however, at the pleasure of the said Mayor and
Common Council at any time after the expiration of fifteen
years from their respective dates and issuance.

Disposal of
bonds.

SEC. 2. And be it enacted, That said bonds shall be dis-
posed of at a price not less than the par value thereof, and
said bonds shall be exempt from county and municipal taxa-
tion.

Capital stock
to be paid
for at
par value.

SEC. 3. And be it enacted, That the sum of twenty-five
thousand dollars arising from the sale of said bonds shall be
used and applied by the Mayor and Common Council of
Westminster exclusively in payment for the capital stock of
the Washington, Westminster and Gettysburg Railroad Com-
pany of Maryland, at not more than the par value thereof,
which capital stock said Mayor and Common Council of West-
minster are hereby authorized and empowered to subscribe
and pay for.

Capital stool
not to be
subscribed
for until
road is
completed,
etc.

SEC. 4. And be it enacted, That the Mayor and Common
Council of Westminster shall not subscribe for nor pay for
said capital stock of the Washington, Westminster and Gettys-
burg Railroad Company of Maryland, or any part thereof,
until the said Washington, Westminster and Gettysburg Rail-
road Company shall have constructed and completed its rail-
road and have the same in operation through the city of West-
minster, Carroll county, Maryland, from Washington City, in
the District of Columbia, to Gettysburg, Adams county, State
of Pennsylvania, and shall also have constructed and perma-
nently located its railroad shops at some point within the cor-
porate limits of said city of Westminster.

Levy and
collect a
special tax.

SEC. 5. And be it enacted, That the said Mayor and Com-
mon Council of Westminster be and they are required in each
and every year to levy and collect a special tax not exceeding
ten cents on every hundred dollars of the assessed value of the
taxable property liable to assessment and taxation within the
limits of the corporation of the city of Westminster for the
purpose of paying the interest on the said bonds issued under
the provisions of this Act as the same shall be payable, and
from time to time reduce and retire said bonds after the date
provided by this Act until all of them shall be redeemed and
retired.

Vote to be
taken on the
issuing of
bonds.

SEC. 6. And be it enacted, That the Mayor and Common
Council of Westminster be and they are hereby authorized
and empowered to take the sense of the people of the city of
Westminster in relation to the issuing of the bonds provided
for in this Act by submitting the question to the qualified
voters at an election to be held in the city of Westminster on
such day, at such place and between such hours of the day