1837.

LAWS OF MARYLAND.

CHAP. 81.

CHAPTER 81.

Passed Jan. 27,
1838.

An act to authorise the more safe and profitable invest-
ment, by the Levy Court of Worcester county, of a
part of the Free School Funds of said county, and for
other purposes.

Sale of Bank
stock.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That the levy court of Worcester county be,
and they are hereby authorised and required to dispose
of as much of the United States' Bank stock, in which
a part of the free school funds of said county has been

Pay debt.

invested, as they may deem sufficient, and out of the
proceeds of the sale of said stock, together with such
other free school funds as are under their control and
as they may in their discretion apply to that purpose,
they shall pay to the persons to whom the same may be
due at the time of payment, the debts which may have
been or may hereafter be contracted and for which said
county is or may become liable under the provisions of
an act, entitled, an act to provide for the building a
court house in Worcester county, passed at December
session eighteen hundred and thirty-four, chapter forty
seven, and also under the provisions of an act, entitled,
an act to provide for the relief and support of the poor
and indigent persons in Worcester county, passed at
December session eighteen hundred and thirty-five,

Directions.

chapter two hundred and nineteen; provided however,
that the sum or sums heretofore levied upon the assess-
able property of said county, according to the provi-
sions of the third section of the first mentioned act,
shall be first paid and credited, and the balance only of
said debts shall be paid out of the free school funds.

Converted into
investments.

SEC. 2. And be it enacted, That the amount which
shall be paid as aforesaid out of the free school funds
of said county, shall constitute a debt from said county

Levy directed.

to the free school fund of said county, and an interest
thereon of six per cent per annum shall be levied by
the said court annually upon the assessable property of
said county, in the same manner as county charges are
levied, and applied as the free school funds of said
county are applied.