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Authorized
to sell the
annuity of
ninety
thousand
dollars.
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land, That the Board of Public Works in this State be and
the same is hereby authorized, in the discretion of said board,
to sell for cash and to transfer to the purchaser or purchasers
thereof, the annuity of ninety thousand dollars, created by
virtue or in pursuance of the provisions of chapter 260 of the
Acts of the General Assembly of Maryland, passed at the
January session of 1854, and which said annuity is payable by
the Northern Central Railroad Company to the State of Mary-
land; provided, said Board of Public Works shall not sell and
transfer the same for any smaller or less sum of money than a
sum equal to the capitalization of said annuity at the rate of
three and one-half per centum, together with the amount of
such quarterly payments as may then be due and unpaid, and
interest thereon, and the proportionate part of the accruing
quarterly payment, calculated to the day of such transfer ; and
provided further, that said Board of Public Works may accept
in payment or in part payment of the purchase price for a said
annuity, the bonds of or registered debt owing by the State at
the market value thereof, or cash, in its discretion ; and such
purchaser or purchasers, its or their successor, successors or
assigns, (if such purchaser or purchasers be a body corporate
or bodies corporate,) or his, her or their executors, administra-
tors or assigns, (if such purchaser or purchasers be a natural
person or persons,) shall, upon such transfer of and payment
for said annuity, succeed to and have all and every, the rights,
incidents, interests and estate now held or owned by the State
of Maryland in said annuity and in the mortgage security
thereof; and all money received from the sale of the securities
mentioned in this Act, or any of them, shall be applied by the
treasurer to the payment of the State debt, or to the purchase
of safe securities for the sinking fund of said State debt.
SEC. 2. And be it further enacted, That said Board of Public
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To perform
certain
acts, etc.
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Works be and it is hereby authorized and empowered to do
and perform any and all acts, matters and things, and to exe-
cute and deliver any and all contracts, deeds or paper writings
whatsoever, in order to effectually transfer, assign and convey
said annuity and the mortgage security therefor, together with
all and every, the rights, incidents, interests and estate of the
State of Maryland therein, unto the purchaser or purchasers
thereof, and generally to do any and all acts, matters and
things whatsoever to carry out and effectuate the purposes of
this Act.
SEC. 3. And be it further enacted, That the said Board o
Public Works be and it is further authorized and empowered
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