JAS. BLACK GROOME, ESQUIRE, GOVERNOR. 701

SECTION 1. Be it enacted by the General Assembly of
Maryland, That for the purpose of meeting and de-	Fund created
fraying the expenses of purchasing suitable grounds,
and erecting and furnishing suitable buildings for
the use of the State Normal School, a fund is hereby
created to be called the " State Normal School loan,"
and the Treasurer of the State is hereby authorized
and directed, to issue bonds or certificates of debt to
an amount, not exceeding one hundred thousand	Issue bonds
dollars; to be countersigned by the Comptroller in
the name, and on behalf of the State of Mary-
land ; and shall bear interest at the rate of six per
centum per annum, payable semi-annually on the
first days of July and January, in each year, and re-
deemable in not less than ten nor more than fifteen	Redeemable
years, at the pleasure of the State, and which said
bonds or certificates of debt, shall he sold for not less
than their par value, and the proceeds passed to the
credit of the said " State Normal School loan, " and
the same are hereby appropriated for the purpose of
paying all liabilities incurred in the purchasing of
suitable grounds, and the purchase, erection and
furnishing of the buildings necessary for the purposes
of the said Normal School, and the Treasurer of	Directed to pay
the State is hereby directed, to pay to the Board of
Public Works of the State, on the warrant of the
Comptroller, the proceeds of the loan aforesaid, at
such time and in such amounts, as may by them be
deemed necessary for the purposes of this act, or
the Treasurer may instead issue to the said Board
of Public Works of the State, the said bonds or cer-
tificates of debt at not less than their par value.
SEC. 2. And be it enacted, That a special tax of one
fourth of one cent be and the same is hereby laid on
every hundred dollars worth of taxable property of	Special tax.
this State, 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, collected and 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 thereof; and the proceed	Proceeds.
thereof are hereby pledged to the payment of the
principal and interest of the said bonds or certificate
of debt, and for that purpose so much thereof as may
be necessary, shall first be applied to the payment