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Session Laws, 1910 Session
Volume 487, Page 813   View pdf image (33K)
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DORCHESTER COUNTY. 818

land, title "County Commissioners," sub-title "Public Roads,"
including the rights to condemn the lands that may be neces-
sary for the purposes of this Act, under the provisions of Sec-
tion 360 to 365, both inclusive, of Article 23 of the Code of
Public General Laws of Maryland, title "Corporations," sub-
title "Condemnation of Property by Corporations."

SEC. 3. And be it further enacted. For the purposes afore-
said, that the County Commissioners be, and they are hereby,
authorized and directed to issue coupon bonds to the amount
of fifty thousand dollars, for the purpose of constructing,
operating and maintaining the said canal, and to levy and
collect taxes in said County for the payment of said bonds and
interest, as hereinafter provided.

SEC. 4. And be it further enacted, That the said County
Commissioners be, and they are hereby, authorized and di
rected to issue said bonds in the denominations hereinafter
provided, the same to be signed by the President of the Board
of County Commissioners and countersigned by the Clerk there-
of, with the seal of the said County Commissioners attached,
the said bonds to be issued in the denomination of five hundred
dollars each, on the faith and credit of the County of Dor-
chester aforesaid, and to bear interest from the date of the
issue thereof, at the rate of not more than five per centum per
annum, payable semi-annually, which said interest to the ma-
turity of each of said bonds shall be provided for and set forth
in the coupons attached to each of said bonds, which said
bonds shall be numbered consecutively and shall have printed
on them, and on the coupons attached to them, a distinct refer
ence to this Act authorizing the issue thereof.

SEC. 5. And be it further enacted, That the said bonds shall
be redeemable as follows, that is to say: One thousand dollars
thereof on the first day of April, in the year nineteen hundred
and twelve, and thereafter annually one thousand dollars on
the first day of April, in each and every year, until the whole
amount of said bonds shall have been fully paid.

SEC. 6. And be it further enacted, That all of said bonds
shall be dated the first day of April, nineteen hundred and
eleven, and bear interest from the date thereof, at the rate of
five per centum per annum, said interest to be payable on the
first days of October and April, in each year to the maturity
of each of said bonds; two of said bonds, commencing with
number one, shall be due and redeemable on the first day of
April, nineteen hundred and twelve; two more of said bonds,
in order, according to numbers, shall be due and redeemable on
the first day of April in each and every succeeding year there-
after until all of said bonds are due and redeemable.


 

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Session Laws, 1910 Session
Volume 487, Page 813   View pdf image (33K)
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