PHILLIPS LEE GOLDSBOROUGH, GOVERNOR. 933

32-R, the same to be paid for out of the ".funds provided in that
Act.

SEC. 2. And be it further enacted, That this Act shall take
effect from the date of its passage.

Approved April 13th, 1914,

CHAPTER 550.

AN ACT to authorize, empower and direct the County Commis-
sioners of St. Mary's County to subscribe to the preferred
capital stock or the income bonds of the Washington, Potomac
and Chesapeake Railway Company, and to issue bonds to pro-
vide for the payment of the same.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the County Commissioners of St. Mary's County be
and they are hereby authorized and directed in the 'name of and
for the said St. Mary's County, to subscribe for and hold either
or both, and in such proportions as they may deem best, and at
the par value thereof, income bonds or the preferred capital
atock of the Washington, Potomac and Chesapeake Railway
Company, a body corporate, duly incorporated under the Laws
of the State of Maryland, or its successors or assigns, to the
amount of One Hundred and Fifty Thousand Dollars ($150,-

000.00).

SEC. 2. And be it enacted, For the purpose of meeting the

said subscription to the said stock or the said income bonds of
the said Washington, Potomac and Chesapeake Railway Com-
pany, its successors or assigns, as heretofore provided, the said
County Commissioners of St. Mary's County, be and they are
hereby authorized and empowered to issue bonds in the name of
the said County, of denominations of not less than Fifty Dollars
($50) nor more than One Thousand Dollars ($1,000), bearing
interest at the rate of five per cent. (5%) per annum, payable
at a period of not more than fifty (50) years from the date of
their issue, and to each of the bonds shall be attached coupons
for the payment of interest thereon, payable semi-annually,
which said coupons shall be received in payment of any County
taxes by the County Commissioners of said County.

SEC. 3. And be it enacted, That the said bonds shall be ex-
empt from State, County and municipal taxation, and the faith
credit of St. Mary's County is hereby pledged for the pay-