316 LAWS OF MARYLAND. [CH. 106
CHAPTER 106.

AN ACT to repeal Sections 7, 8, 9, 10 and 13 of Article
78A of the Annotated Code of Maryland (1924 Edition)
title "Public Works-Board of, " sub-title "Sale of State's
Interest in Works of Internal Improvement or in Cor-
porations, " and to repeal and re-enact, with amendments,
Section 11 of Article 78A of the Annotated Code of
Maryland (1924 Edition) title "Public Works—Board
of, " sub-title "Sale of State's Interest in Works of Inter-
nal Improvement or in Corporations, " fixing the amount
for which the annuity of the Northern Central Railway
Company may be sold at not less than a sum equal to a
capitalization of said annuity at 4 per centum.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That Sections 7, 8, 9, 10 and 13 of Article 78A
of the Annotated Code of Maryland (1924 Edition), title
"Public Works—Board of, " sub-title "Sale of State's In-
terest in Works of Internal Improvement or in Corpora-
tions, " be and the same are hereby repealed.

SEC. 2. And be it further enacted, That Section 11 of
Article 78A of the Annotated Code of Maryland (1924 Edi-
tion), title "Public Works—Board of, " sub-title "Sale of
State's Interest in Works of Internal Improvement or in
Corporations, " be and the same is hereby repealed and re-
enacted, with amendments, to read as follows:

11. The Board of Public Works is authorized, in the dis-
cretion of said Board, to call for sealed bids and to sell to the
highest bidder 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 Mary-
land, passed at the January session of 1854, and which said
annuity is payable by the Northern Central Railway Com-
pany to the State of Maryland; 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 four per centum,
together with the amounts of such quarterly payments as
may then be due and unpaid, and interest thereon, and the
proportionate part of the accruing quarterly payment, cal-
culated 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 of said annuity,