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LAWS OF MARYLAND.

CHAPTER 145.

AN ACT to amend an Act entitled an Act to in-
corporate the Mercantile Library Association of
the City of Baltimore, passed January seven-
teenth, eighteen hundred and forty-two, being
Chapter fifteen of eighteen hundred and forty-
one.

Preamble.

WHEREAS, The Mercantile Library Association
of Baltimore was incorporated by the Act of De-
cember session eighteen hundred and forty-one,
Chapter fifteen, for the promotion of literature and
science, by the establishment of a library and
leading room, lectures, and by such other methods
as shall be deemed expedient or necessary to the
furtherance of this design, and whereas said Act
will expire at the end of thirty years from its pas-
sage, as provided therein, and it is deemed proper
by the General Assembly that the said incorpora-
tion shall be made perpetual, and that the changes
hereinafter mentioned shall be made in the powers
and privileges thereof, and such purpose cannot be
attained by any general law, therefore

Charter made
perpetual.

SECTION 1. Be it enacted by the General Assembly
of Maryland, That the Act of eighteen hundred
and forty-one, Chapter fifteen, incorporating the
Mercantile Library Association of Baltimore, be,
and the same is hereby made perpetual, with the
amendments hereinafter enacted.

Annual
income.

Sec. 2. And be it further enacted, That the
proviso contained in the second Section of said Act
is hereby amended so as to read ; Provided, the
clear annual income of such estate and property
shall not exceed the sum of twenty-five thousand
dollars.

Exempt from
taxation.

Sec. 3. And be it further enacted, That the prop-
erty of said association shall be exempt from all
State and local taxation.

Alter or repeal

Sec. 4. And be it further enacted, That the Leg-
islature reserves to itself the right to alter or re-
peal this Act, as well as the said original Act of
Incorporation at pleasure.