|
|
Resolutions relative to the Chesapeake and Ohio Canal
Company, and the Baltimore and Ohio Rail Road
Company.
Resolved by the General Assembly of Maryland, That
the Chesapeake and Ohio Canal Company be, and it
is hereby authorised to receive of the certificates of
debt of the State of Maryland, created and issued un-
der the provisions of the act for the promotion of inter-
nal improvement, passed at the adjourned May session
of eighteen hundred and thirty-six, chapter three hun-
dred and ninety-five, for the purchase of which it has
contracted with the commissioners appointed under the
provisions of the said act, to the amount of two mil-
lions five hundred thousand dollars, at the par value
thereof, at such times and in such sums as it may re-
quire, by giving to the Treasurer for the Western Shore
a receipt or receipts, for the amount of the certificates
of debt required to be delivered as aforesaid, including
the premium of twenty per cent, as a payment on ac-
count of the State's subscription to the capital stock of
the said company, under the provisions of the afore-
said act, who shall thereupon give to the company a
certificate of said receipt, the production of which to
the. President and Directors of the Union Bank of
Maryland, shall authorise them to deliver to the said
company, the certificates of debt of this State, to the
par value before mentioned.
Resolved, That the residue of the certificates of debt
of this State deposited in the Union Bank of Maryland,
under and in consequence of the contract between the
said commissioners and the Chesapeake and Ohio Ca-
nal Company shall be delivered over to the Treasurer
for the Western Shore, to be by him retained as a se-
curity for the payment, by the said company, to the
|
Passed Mar. 30,
1838.
|
|
