936

LAWS OF MARYLAND.

CHAPTER 610.

AN ACT to empower and authorize the Mayor and Common
Council of Manchester, Carroll County, Maryland, to issue
the bonds of said Mayor and Common Council of Manches-
ter, to an amount not exceeding the sum of fifteen thousand
dollars, and to provide for the payment of the principal and
interest of said bonds, and to use said bonds, or the proceeds
thereof, to such an amount as may be necessary to aid in
the construction of a railroad from the town of Manchester,
in Carroll County, to a point at or near Maple Grove on the
line of the Baltimore and Harrisburg Railway Company.

May issue
Bonds.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That the mayor and common council of Manches-
ter, Carroll county, be and they are hereby authorized and
empowered to issue the bonds of said mayor and common
council to an amount not exceeding fifteen thousand dollars,

Proceeds,
how to be
applied.

and to use said bonds or the proceeds thereof to construct or
aid in the construction of a railroad from said town of Man-
chester to a point at or near Maple Grove on the line of the
Baltimore and Harrisburg Rail way Company; said bonds to be
of such denominations, and the principal thereof to be pay-
able at such time, not exceeding twenty years from the date of

Interest.

said bonds, as the said mayor and common council of Man-
chester may determine, and to bear interest at a rate not ex-
ceeding five per cent, per annum, payable annually or semi-
annually, as said mayor and common council of Manchester
may determine; nor shall any of said bonds be sold at less than
the par value thereof.

SEC. 2. And be it further enacted, That upon the incorpo-

To aid in con
struction of
railroad.

ration under the laws of this State, of a company for the
purpose of constructing said railroad from Manchester to a
point at or near Maple Grove on the line of the Baltimore
and Harrisburg Railway Company, said company so being
incorporated, having a capital stock of not less than twenty
thousand dollars, the said mayor and common council of Man-
chester may appropriate said bonds or the proceeds thereof to
an amount not exceeding fifteen thousand dollars, to construct
or aid in the construction of said railroad, and may agree
with said railroad company as to the terms upon which said
bonds or the proceeds thereof shall be so used, and for the
indemnity of said mayor and common council of Manchester