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LAWS OF MARYLAND.

Chapter 302.

AN ACT to empower and authorize the mayor
and common council of Manchester, Carroll
county, Maryland, to subscribe to the capital
stock of the Manchester Branch railroad the
sum of fifteen thousand dollars or less ; said
railroad branch to be built from Manchester
to Maple Grove station, on the Baltimore and
Hanover Division of the Western Maryland
railroad.
SECTION 1. Be it enacted by the General Assem-

Authority to
subscribe.

bly of Maryland, That the mayor and common
council of Manchester, Carroll county be and
they are hereby authorized and empowered to
subscribe to the capital stock of the Manchester
Branch railroad the sum of fifteen thousand
dollars.
SEC. 2. And be it enacted, That for the pur-

May issue
bonds.

pose of appropriating the said fifteen thousand
dollars, the mayor and common council may
issue bonds upon the real property within the
limits of said municipal corporation to the
amount of fifteen thousand dollars or less,
bearing interest not exceeding six per centum
per annum, payable semi-annually, which bonds
shall not be subject to taxation for state and
county taxes or municipal.
SEC. 3. And be it enacted, That for the purpose

May levy
taxes.

of paying the interest on said bonds, as it may
become due, the mayor and common council
shall levy by assessment on all the real property,
within the limits of said municipal corporation,
such amount of taxes as may be required to
pay the interest on said bonds, and also to con-
stitute a sinking fund for the redemption of
said bonds.
SEC. 4. And be it enacted, That the bonds

Payment.

which may be issued as aforesaid shall be pay-
able in not more than twenty years from date,
reserving the privilege of paying them at any
time, and shall not be sold or disposed of at less
than par value, and the citizens of said corpora-
tion shall have the refusal of purchasing said
bonds.