PHILIP F. THOMAS, ESQUIRE, GOVERNOR.

1849.

fourths of the purchase money to be secured by bonds
with good and sufficient security for the payment
thereof, payable five years after date thereof, bearing
an interest of six per centum per annum, or in stock
of the city of Baltimore, or stock of the State of
Maryland, at its par value, bearing an interest of six per
centum per annum thereon, and as soon as may be,
after the said commissioners of the county shall
have disposed of a sufficient amount of said joint pro-
perty and have received twenty thousand dollars in
cash, the amount of which shall be deposited in some
safe Bank, in the city of Baltimore, to the credit of said
county, in the name of the commissioners of Balti-
more county, to be denominated the fund for the erec-
tion of public buildings in said county, and subject to
the draft, countersigned by|the president of the board
of said county commissioners, for the purposes speci-
fied by this act.

CHAP. 540.

SEC. 6. And he it enacted, That for the purpose
of defraying the expenses in the erection of said pub-
lic buildings and improvements connected with this
law, the commissioners of Baltimore county may cre-
ate a stock not exceeding twenty thousand dollars,
bearing an interest of six per centum per annum,
payable semi-aunnally by said commissioners, irre-
deemable for ten years, to be called the court house
stock of Baltimore county, and that the proceeds of
the said stock when sold shall be received by said
commissioners, and shall be applied as necessary in
paying the expenses incurred in the execution of this
act; provided, that the commissioners shall only issue
the aforesaid stock in case of failure to matte sale or
exchange of so much of the joint property as may be
necessary to defray the expenses incurred under the
provisions of this act.

To issue stock.

Proviso.

SEC. 7. And be it enacted, That in the execution
of the powers hereby granted, the said building com-
missioners, or a majority of them, shall make such
contracts and take such bonds for the faithful perform-
ance of the same, payable to the commissioners of
Baltimore county, as they shall deem necessary, and
that they the said commissioners, or a majority of
them, shall make all payments under such contracts,
and for other purposes to them committed, by order?
in writing, signed by them, or a majority of them,
' drawn upon the commissioners of Baltimore county,
whose duty it shall be to satisfy such orders.

To contract, etc.

SEC. 8. And be it enacted, That for the purpose of
paying the interest and the principal of the said stock,

Levy authoris-
ed.