JOHN LEE CARROLL, ESQUIRE, GOVERN.

OR. 467

CHAPTER 263.

AN ACT to create a loan to discharge an indebted-

ness of the President and Visitors of the Maryland

Hospital now secured by mortgage of said hospital

and premises, and to provide furniture for the

same.

WHEREAS, the President and Visitors of the Mary-

land Hospital, by virtue of the authority in them

vested by section one, article forty-four of the Code

Preamble.

of Public General Laws, have executed a deed of

mortgage of their hospital and premises in Baltimore

county to secure certain promissory notes to the

amount of one hundred and fifty thousand dollars,

issued for the support of said institution, which 'said

mortgage will be due and payable on the thirtieth

day of June, Anno Domini eighteen hundred and sev-

enty-six; and

WHEREAS, the said president and visitors are with-

out the means of discharging the said mortgage

Preamble.

debt, and of providing furniture required for the

proper support of said hospital; therefore

SECTION 1. Be it enacted by the General Assembly of

Maryland, That for the purpose of discharging the

present indebtedness of the President and Visitors

An additional

of the Maryland Hospital, and of providing furniture

fund created

for said hospital, an additional fund is hereby created,

to be called the Maryland Hospital State Loan, and

the Treasurer of the State is hereby authorized and

directed to' issue registered bonds or cetificates of

debt of the State to the amount of one hundred and

thirty-five thousand dollars, to be countersigned by

the Comptroller in the name and in behalf of the

State of Maryland, which bonds or certificates of

debt shall bear interest at the rate of six per centum

Bear interest.

per annum, payable semi-annually on the first days

of January and July in each year, and be redeemable

in not less than ten nor more than fifteen years at

the pleasure of the State, and which said bonds or

certificates of debt shall be sold for not less than their

Sold for not
less.

par value, exclusive of all commission, and the pro-

ceeds passed to the credit of said Maryland Hospital