350

LAWS OF MARYLAND.

chase suitable grounds, and to contract for the con-

struction and erection of the necessary buildings for

the said institution, and who shall before any con-

tract is entered into by them for the said construction

and erection, have proper plans and specifications of

said buildings prepared, and invite proposals for said

work; provided, however, no contract shall be en-

Proviso.

tered into by them, unless the whole cost of the

purchase of the land, construction of the buildings

and other necessary expenses, shall not exceed the

amount hereinafter appropriated; and, provided

further, that no contract shall be entered into except

with a responsible party, who shall be required to

give such bond as they may approve, in the penalty

of one hundred thousand dollars, conditioned for the

faithful performance of the same.

SEC. 5. And be it enacted, That for the purpose of

Fund created
for erecting

purchasing the necessary land, and erecting, com-

building

pleting and equiping the building or buildings of the
said House of Correction ; a fund is hereby created to

be called "the House of Correction State Loan ; " and

that the Treasurer of the State, is hereby authorized

and directed to issue certificates of debt or bonds of the

Issue bonds

State, to an amount not exceeding two hundred and

fifty thousand dollars, to be countersigned by the

Comptroller in the name and on behalf of the State

of Maryland, which bonds or certificates of debt,

together with the lands, buildings and other property

of said House of Correction, shall be exempt from

State, county or municipal taxation, and shall bear

interest at the rate of six per centum per annum,

payable semi-annually from the first days of January

and July of 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

shall be sold for not less than their par value, exclu-

Not to be sold
less than par.

sively of all commissions, and the proceeds passed to

the credit of said House of Correction State Loan,

and the same to the extent of two hundred and fifty

thousand dollars are hereby appropriated for the

purpose of paying for the land, the erection, com-

pletion and equipment of said buildings of the said

House of Correction.

Special tax

SEC. 6. And be it enacted, That a special tax of

three-fourths of one cent be, and the same is hereby