Chapter CCIII. *giving the Assent of Congress to the Subscription of the District of Columbia to the Stock of the Piedmont and Potomac Railroad Company.*May 23, 1872. *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, Act authorizing the District of Co
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CHAP. CCIII.— An Act *giving the Assent of Congress to the Subscription of the District of Columbia to the Stock of the Piedmont and Potomac Railroad Company.*May 23, 1872. *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, Act authorizing the District of Columbia to subscribe to stock of the Piedmont and Potomac R.R. Co., approved.That the act of the legislative assembly of the District of Columbia entitled “An act to authorize a subscription to the stock of the Piedmont and Potomac Railroad Company upon certain conditions” be, and the same is hereby, approved and sanctioned : *Provided*, That before any part of the said subscription shall be paid the governor and the board of public works, acting separately, Conditions of subscription to the stock.shall be satisfied that said railroad will be completed and used to a point on the Potomac river opposite the city of Washington or Georgetown by the aid of said subscription : *And provided*, That no part of the said subscription by said district shall be paid until one million dollars shall have been subscribed by private parties and shall have been actually paid in cash and expended in the construction of the road : *And provided further*, That the said Piedmont and Potomac Railroad Company shall enter into bonds in the sum of eight hundred thousand dollars, with good and sufficient individual sureties, to be approved by the governor of the District of Columbia and Secretary of the Treasury of the United States, conditioned for the repayment, with interest, of the money subscribed to the capital stock of the said company by the said district, if the said company shall fail to complete the said road for the running of cars within three years from the acceptance of the six hundred thousand dollars to be subscribed by the said district; and no part of such subscription shall be paid until such bond be given, approved, and filed in the office of the secretary of the District of Columbia : *And provided further*, That the tax levied by authority of this said act shall not exceed thirty-sis thousand dollars for interest in any one year: *And provided also*, That no bonds to raise the funds that may lie required to pay the said subscription shall be disposed of by said district at less than par.
Approved, May 23, 1872.