clear space clear space clear space white space
A
 r c h i v e s   o f   M a r y l a n d   O n l i n e
  Maryland State Archives | Index | Help | Search search for:
clear space
white space
Supplement to the Code of Public General Laws of Maryland, 1898
Volume 391, Preface 10   View pdf image (33K)
 Jump to  
  << PREVIOUS  NEXT >>
clear space clear space clear space white space

chaser or purchasers thereof, the annuity of ninety thousand dollars
created by virtue or in pursuance of the provisions of chapter 260 of the
Acts of the General Assembly of Maryland, passed at the January session
of 1854, and which said annuity is payable by the Northern Central Rail-
way Company to the State of Maryland; provided, said Board of Public
Works shall not sell and transfer the same for any smaller or less sum of
money than a sum equal to the capitalization of said annuity at the rate of
three and one-half per centum, together with the amounts of such quar-
terly payments as may then be due and unpaid, and interest thereon, and
the proportionate part of the accruing quarterly payment, calculated to the
day of such transfer; and provided further, that said Board of Public
Works may accept in payment or in part payment of the purchase
price for said annuity, the bonds of or registered debt owing by the State
at the market value thereof, or cash, in its discretion; and such purchaser
or, purchasers, its and their successor, successors or assigns, (if such pur-
chaser or purchasers be a body corporate or bodies corporate, ) or his, her
or their executors, administrators or assigns, (if such purchaser or pur-
chasers be a natural person or persons ) shall, upon such transfer of
and payment for said annuity, succeed to and have all and every, the
rights, incidents, interests and estate now held or owned by the State of
Maryland in said annuity and in the mortgage security thereof, and all
money received from the sale of the securities mentioned in this section and
in section 320, or any of them, shall be applied by the treasurer to the pay-
ment of the State debt, or to the purchase of safe securities for the sinking
fund of said State debt.

219. The said Board of Public Works is hereby authorized and empow-
ered to do and perform any and all acts, matters and things, and to execute
and deliver any and all contracts, deeds or paper writings whatsoever, in
order to effectually transfer, assign and convey said annuity and the mort-
gage security therefor, together with all and every, the rights, incidents,
interests and estate of the State of Maryland therein, unto the purchaser
or purchasers thereof, and generally to do any and all acts, matters and
things whatsoever to carry out and effectuate the purposes of sections 318,
219 and 230

220. The said Board of Public Works is further authorized and empow-
ered to sell, transfer, assign and convey, in the manner set forth in sections
218 and 219 of this article, all the right and interest of the State of Mary-
land, in or to the capital stock of the Baltimore and Potomac Railroad
Company, at the discretion of the said Board of Public Works, at such
price and for cash or State bonds as said board may determine, and said
mortgage and annuity shall remain exempt from State, county and municipal
taxation in the hands of the purchaser or purchasers, or his or their
assigns, as if the same were still held and owned by the* State of Maryland.

On page 584, for "Ibid" over section 25, read "1890, ch. 51. 1898. ch. 129. "

At foot of page 588, as a note to section 123, add as follows: ''Sections
18, 19, 20, 21, 22, 32, 32 A, 120, 121 and 128 do not go into effect until
January 1, 1809.

At foot of page 595, as a note to section 308 A, add as follows: "This sec-
tion does not go into effect until January 1, 1899. "

 

clear space
clear space
white space

Please view image to verify text. To report an error, please contact us.
Supplement to the Code of Public General Laws of Maryland, 1898
Volume 391, Preface 10   View pdf image (33K)
 Jump to  
  << PREVIOUS  NEXT >>


This information resource of the Maryland State Archives is presented here for fair use in the public domain. When this material is used, in whole or in part, proper citation and credit must be attributed to the Maryland State Archives. PLEASE NOTE: Rights assessment for associated source material is the responsibility of the user.


Tell Us What You Think About the Maryland State Archives Website!


[ Archives' Home Page  ||  All About Maryland  ||  Maryland Manual On-Line  ||  Reference & Research
||  Search the Archives   ||  Education & Outreach  ||  Archives of Maryland Online ]

Governor     General Assembly    Judiciary     Maryland.Gov

An Archives of Maryland electronic publication.
For information contact mdlegal@mdarchives.state.md.us.

©Copyright  October 31, 2014
Maryland State Archives