1852.

LAWS OF MARYLAND.

CHAP. 305.

Power to bor-
row money.

SEC. 29. And be it enacted, That the president
and directors, or a majority of them, may in the event

of a failure of procuring subscription to the capital
stock adequate to the completion of the road, and stock-
ing the same, borrow not exceeding in amount the sum

Proviso.

of two hundred thousand dollars; Provided, the con-
sent of a majority in value of the capital stock is had from
the stockholders in general meeting assembled.

CHAPTER 305.

Passed May
29, 1852.

AN ACT to authorise the Treasurer of (his State to
redeem parts of the Funded Debts of this State,
now due.

Authority to
redeem fund-
ed debts.

SECTION 1. Be it enacted by the General Assembly
of Maryland, That the Treasurer of this State, be,
and hereby is authorised, if, in his judgment, the in-
terests of this State will be the better promoted thereby,
to redeem out of the surplus monies remaining in the
Treasury, and which said monies, were, by an act en-
titled, an act making appropriations for the support of
government for the present year, chapter
passed the present session of the General As-
sembly, appropriated to the increase of the sinking
fund, such parts of the funded debts of this State, as

Proviso.

are now due; Provided, however, that no greater
amount thereby shall be expended for the purpose
aforesaid, than will leave such balance as together with
the revenue that may bo received dining the first quar-
ter of the fiscal year next succeeding the passage of this
act, will be sufficient in the judgment of the Comptrol-
ler and Treasurer, to meet all demands upon the Trea-
sury up to the first day of April, eighteen hundred and
fifty-three.

Funded debts
redeemed to
be carried to
credit of sink-
ing fund.

SEC. 2. And be it enacted, That all such part or
parts of the funded debts of this State, as may be re-
deemed as is provided for in the first section of this act,
shall be carried to the credit of the sinking fund, and
that all acts or parts of acts inconsistent with the provi-
sions of this act, shall be, and are hereby repealed.