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212
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LAWS OF MARYLAND.
the State of Maryland, with the said Susque-
hanna Canal Company and Tide Water Canal
Company, and as part of the compromise re-
ferred in the last preceding section of this act,
that upon payment into the treasury of this
state by said companies of the amounts so to be
by them paid in compromise and satisfaction of
the interest due as aforesaid to the said state or
for its benefit, on their said respective bonds
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Period extend-
ed to.
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and mortgages, to the first day of January, eigh-
teen hundred and eighty-eight, the time of pay-
ment of said respective bonds and mortgages
shall be extended to such period as the said
board of public works, or a majority of them, may
limit in said agreement, which period shall not
be less than thirty years from the date of such
extension ; and that the rate of interest payable
on or under said respective bonds and mortgages
shall be reduced, from and after the first day of
January, eighteen hundred and eighty-eight, to
such percentage as in said agreement shall be
provided ; and the said board of public works,
or in a majority of them, when the money so
agreed to be paid into the treasury of this State
in compromise for the arrears of interest due as
aforesaid is fully paid, shall have power to exe-
cute, and shall execute in the name of the state
of Maryland, all instruments of writing neces-
sary to give full effect to said agreement, and to
reduce the rate of interest payable on said bonds
and mortgages to the percentage fixed by the
agreement for said reduction.
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