WM. PINKNEY WHYTE, ESQUIRE, GOVERNOR.

39

certificates of debt shall bear interest at the rate of

six per centum per annum, payable semi-annually,

Interest.

on the first day 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 bonds or certificates shall not be sold for less

Proceeds of

than their par value, and the proceeds passed to the

sale of certifi-
cate

credit of the said "Deaf and Dumb Asylum loan," and

the same are hereby appropriated for the purpose of

completing and furnishing the buildings of said

Deaf and Dumb Asylum, and the erection and fur-

nishing the wing and buildings mentioned in the

original plan; and the Treasurer of the State is

hereby directed to pay to the President and Board

of Visitors of, the Asylum for the Deaf and Dumb

How to be paid

of the State of Maryland, on the warrant of the

over

Comptroller, the proceeds of the loan aforesaid, at

such times, and in such amounts, as may by them

be deemed necessary for the purposes of this act, or

the Treasurer may, instead thereof, issue to the said

President and Board of Visitors the said bonds or

•certificates of debt at not less than their par value.

20. A special tax of five-sixteenths of one cent on

Special tsx for
redemption of

every hundred dollars of taxable property within

luau

this State is hereby levied to meet the interest and

create a sinking fund for the redemption of the

bonds or certificates of debt, herein directed to be

issued and the said tax shall be annually levied, col-

lected and be paid over to the State Treasurer until

the debt created by this act shall have been paid ;

And a separate and distinct account shall be kept

Separate and

thereof and the proceeds thereof are hereby pledged

distinct acco'nt

to the payment of the principal and interest on

to be kept

said bonds, or certificates of debt, and for that pur-

pose so much thereof as may be necessary shall first

be applied to the interest, and the balance invested

by the Treasurer in the bonds or certificates hereby

authorized to be issued or other bonds of this State.

SEC. 2. And be it enacted, That this act shall take

In force

effect from the date of its passage.

Approved, February 26th, 1874.