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LAWS OF MARYLAND.

CHAPTER 34.

Passed
Mar. 1, 1854.

AN ACT to confirm an ordinance of the Mayor and City
Council of Baltimore, entitled an ordinance to aid
the Baltimore and Ohio Rail Road Company, by a
loan to the amount of five millions of dollars, to com-
plete their road to the City of Wheeling, to fund their
debts, and especially to lay a second track as far as
Piedmont, two hundred and eighteen miles distant
from the City of Baltimore, and to confer upon said
Mayor and City Council, and upon the commissioners
of finance and the register of said city, the powers
necessary for carrying into effect the provisions of
said ordinance.

Preamble.

WHEREAS, the Mayor and City Council of Balti-
more at a session held in December last, passed and
in the terms following, that is to say :

Mortgage to
be given.

SECTION 1. Be it enacted and ordained by the
Mayor and City Council of Baltimore, That when-
ever the Baltimore and Ohio Rail Road Company, by
their officers legally authorised to act on their behalf,
in such matters shall signify in writing, sealed with
their corporate seal, their acceptance of the terms and
provisions of this ordinance and shall at the same time
deposit with the register of the city, a mortgage (to be
previously approved by the city counsellor,) wherein
said company shall pledge all their real and personal
estate, road or roads, the tolls and revenues as security
to the Mayor and City Council of Baltimore, for the
payment as hereinafter provided, of the principal and
of the interest of the loan hereby made, it shall be the
duly of the commissioners of finance of the city of
Baltimore, and they are hereby authorised to issue
certificates of stock of the Mayor and City Council of
Baltimore, with coupons or otherwise in their discretion
to the amount of five millions of dollars, redeemable
on the first day of January, eighteen hundred and
ninety, the interest payable quarterly on the first day
of January, April, July and October in each year, the
said commissioners likewise to use their discretion,
whether to issue five per cent sterling bonds, payable
in London, or six per cent currency payable in the city
of Baltimore, and shall proceed to sell the said bonds
or certificates on the best terms which they can obtain
therefor, not lest than par, and in such sums as may be