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Session Laws, 1916
Volume 534, Page 1675   View pdf image (33K)
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JOINT RESOLUTIONS. 1675

County Commissioners be paid by the said Company to said
County Commissioners to be invested by them in the increase
of said sinking fund as provided in Section five. It shall be
the duty of the County Commissioners to publish, during the
first week of January in each year under their hands and seals
in the newspapers published in Calvert County doing the
County printing a full statement of the exact condition of said
sinking fund.

SEC. 7. And be it enacted. That the said County Commis-
sioners shall have power at any time out of any surplus funds
belonging to the said County to purchase and retire any of the
bonds hereby authorized to be issued at their market value,
and the same to cancel and destroy, after entering upon their
books the date of such purchase and of such cancellation, and
the dates, amounts, numbers and other particulars of said
bonds, respectively; provided, that no bonds shall be purchased
unless all coupons thereof, respectively, not then due shall re-
main attached to such bonds at the time of purchase.

SEC, 8. And be it enacted, That said bonds shall be de-
livered to the said Baltimore and Virginia Railroad Company
by the said County Commissioners when the road-bed of said
railroad shall in every respect be completed and ready for the
operation of trains and running over the same from a point on
the Washington, Baltimore and Annapolis Electric Railway,
at or near Millersville, through the lower section of Anne
Arundel County, and through Calvert County to a point at
or near Drum Point, in said Calvert County, and not before;
provided, the said Baltimore and Virginia Railroad Company
completes the construction of said railroad within two years
after the final ratification of this Act by a majority of all the
members elected to each House of the General Assembly of
Maryland at its next session after the passage of this Act.

SEC. 9. And be it enacted, That the said County Commis-
sioners of said County be and they are hereby authorized to
sell or pledge the shares of stock which may be subscribed for
at not lees than their par value, and to apply the proceeds
thereof to the payment of said bonds and the interest thereon.

SEC. 10. And be it enacted, That the County Commis-
sioners of said County, or a majority of them, are hereby au-
thorized and empowered either in person or by proxy to vote
the stock so to be subscribed for at any meeting of the stock-

 

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Session Laws, 1916
Volume 534, Page 1675   View pdf image (33K)
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