THOMAS G. PRATT, ESQUIRE, GOVERNOR.

1845.

city and the hand of the mayor, shall be deposited with
the Treasurer of Maryland, the president and directors of
the Baltimore and Susquehanna Rail Road Company be
and they are hereby authorised and empowered to nego-
tiate a loan on the credit of the company and to issue the
bonds, certificates or other evidences of debt of said com-
pany, for an amount not exceeding in the aggregate the
sum of one hundred and fifty thousand dollars, payable in
fifteen years, and bearing an interest of not more than six

CHAP. 93.

per centum per annum, payable quarterly; provided, that
no such bond or other evidences of debt, be sold or dis-
posed of for less than the pur value of the same.

Proviso.

SEC. 2. And be it enacted, That the moneys hereby
authorised to be borrowed, shall be appropriated and used
for the following purposes and none other whatever, to
wit: for increasing the motive power, cars and machinery
of the said rail road company, and for the establishment
or improvement of depots, for the construction of addi-
tional side tracks, and other improvements of a permanent
character on the line of the rail road, and for the payment
of the notes of the company, as the same may become
due, for nineteen thousand one hundred and sixty-five dol-
lars issued for the purchase of new cars, and if any part
of the said moneys shall be, by the allowance, authority
or acquiescence of the president and directors of the
said company, or any of them, applied to any use or pur-
pose not within the true intent and meaning of this sec-
tion, the person or persons so allowing, authorising or

Moneys bor-
rowed — How
appropriated.

acquiescing in the misapplication of said money, shall be
liable at any time in an action for money had and receiv-
ed, to be brought in the name of the State, against them
jointly and severally in their natural capacity, to pay and
refund to the State the sum or sums of money so impro-
perly applied or expended, and any amount so recovered
shall be paid into the treasury for and on account of in-
terest payable to the State by the Baltimore and Susque-
hanna Rail Road Company, and it shall be the duty of
the president and directors of said rail road company to

Liable in an
action for mo-
ney had and
received.

furnish to the Treasurer of Maryland an account, verified
by the oath or affirmation of the president and secretary
of the company, of all expenditures of moneys borrowed
by the company under the provisions of this act.

Oath or affir-
mation.

SEC. 3. And be it enacted, That for the purpose of se-
curing the punctual payment of the interest, and re-pay-
ment of the principal, of such debts as may be contracted
in pursuance of the provisions of this act, the president
and directors aforesaid are hereby authorised to stipulate
12

President, &c.
to stipulate for
the payment of
debts and in-
terest.