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State Loan, and the same to the extent of one hun-
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|
dred and thirty-five thousand dollars are hereby ap-
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|
propriated for the purpose of discharging the mort-
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|
gage indebtedness of the said President and Visitors
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|
of the Maryland Hospital set forth in the preamble
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|
of this act, and of providing furniture for said hos-
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Treasurer to
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pital, and the Treasurer of the State is hereby directed
|
|
pay.
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to pay to the President and Visitors of the Maryland
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|
Hospital, on the warrant of the Comptroller, the
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|
proceeds of the loan aforesaid, at such times and in
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|
such amounts as may by said president and visitors
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|
be deemed necessary for the purposes of this act, to
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an amount not exceeding the said sum of one hun-
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|
dred and thirty-five thousand dollars.
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|
SEC. 2. And be it enacted, That a special tax of one-
|
|
Special tax.
|
fourth of one cent be and the same is hereby laid on
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each and every one hundred dollars worth of the
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|
taxable property of this State, to meet the interest
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|
and create a sinking fund for the redemption of the
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|
bonds or certificates of debt herein directed to be
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issued, and the tax shall be annually levied, collected
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|
and paid over to the Treasurer of the State, until the
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|
debt created by this act shall have been paid, and a
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|
separate and distinct account shall be kept thereof,
|
|
Proceeds
|
and the proceeds thereof are hereby pledged to the
|
|
pledged.
|
payment of the principal and interest of the said
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|
bonds or certificates of debt, and for that purpose so
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|
much thereof as may be necessary shall be applied
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|
to the payment of the interest of the bonds or certi-
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|
 
|
ficates of debt hereby created, and the balance in-
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|
 
|
vested by the Treasurer of the State in such manner
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|
 
|
as the increment of the sinking fund of the State is
|
|
Proviso.
|
authorized by law to be invested; provided never-
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|
theless, that the said sum of money shall be and it is
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|
 
|
hereby appropriated and directed to be paid as afore-
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|
said, upon the express condition that before said
|
|
 
|
payment, the said Maryland Hospital and all the
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|
lands together with all the rights, privileges and ap-
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|
purtenances thereto belonging shall be conveyed to
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|
 
|
the State of Maryland free, clear und discharged of
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|
all incumbrances, by a good and sufficient deed in
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|
 
|
fee, to be duly acknowledged and recorded and ap-
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|
proved by the Attorney General of the State; and
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|
Proviso.
|
provided also, that before the said payments shall be
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