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LAWS OF MARYLAND.

CHAPTER 309.

Passed Mar.
10, 1856.

AN ACT to authorise the Washington Hotel Com-
pany incorporated by the act of 1853, chapter 226,
to issue coupon bonds and secure the payment
thereof by a deed of trust of all its property.

Authorised to
borrow money.

SECTION 1. Be it enacted by the General Assembly
of Maryland, That the Washington Hotel Company,
be and is hereby authorised to borrow money by the
issue of bonds with coupons or warrants annexed for
the semi-annual interest accruing thereon, in such
form as the president and directors of said company
may prescribe; Provided, no such bond shall be for
a less sum than one hundred dollars and the whole
amount thereof shall not exceed fifteen thousand dol-
lars, and shall be made payable not exceeding twen-
ty years after the date thereof.

Authorised to
convey proper-
ty.

SEC. 2. And be it enacted, That to secure the pay-
ment of said bonds and coupons the president and
directors of said company may and they are hereby au-
thorised to convey all the property of said corporation,
real, personal, and mixed, to one or more trustees in
trust to sell and dispose of the same on such terms
and conditions as may be prescribed in said deed, on
failure by the said company to pay the said bonds
and interest, warrants, or coupons as they become
due, and also on failure of said company to provide
such sinking fund or perform such other stipulations
as may be set forth in said deed.

In force.

SEC. 3. Be it further enacted, That this act shall
take effect and be in force from and after its passage.