52
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LAWS OF MARYLAND.
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1830.
CHAP 50.
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following conditions, to wit: That in the first place the said
trustees of the 'University of Maryland shall hereafter hold
the same in perpetuity for the sole and exclusive use and
benefit of the faculty of arts and sciences in the said Uni-
versity, to be applied and used by the said faculty of arts
and sciences under the government and direction of the
trustees of the University, for the promotion of collegiate
education; and in the second place upon the condition that
the trustees of the University shall, upon the execution of
such deed of transfer as aforesaid, become responsible for
all debts due at the time of said conveyance by the trus-
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Proviso
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tees of Baltimore College; Provided, said debts shall not
exceed in amount the actual value in cash of the said pro-
perty, estate and effects, so proposed to be transferred; nor
shall the state be in anywise responsible for the payment
of the said debts, either now or at any time hereafter.
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Repeal.
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Sec. 2, And be it enacted, That upon the execution of
such deed of transfer as aforesaid by the said trustees of
Baltimore College, and upon the recording of the same
amongst the records of Baltimore county, the said corpo-
ration of Baltimore College, created by the act of the ge-
neral assembly of Maryland, entitled, An act for founding
a college in the city or precincts of Baltimore by the name
of Baltimore College, passed at the November session in
the year of our Lord one thousand eight hundred and
three, together with the supplements thereto, shall be and
become from that time utterly null and extinct.
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Trustees to
hold property.
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Sec. 3. And be it enacted, That the trustees of the Uni-
versity of Maryland, after the execution of the said deed
as aforesaid, shall be entitled to hold the same under the
conditions above mentioned, to them and their successors
forever, to the uses in the said deed of transfer mentioned;
and in case the trustees of the said University, or their
successors, should find it expedient to sell or dispose of
the said property, so to be conveyed to them as aforesaid,
the proceeds thereof shall in like manner be held by them
to the uses in the said deed of transfer to be set forth, that
is, to the exclusive use .and benefit of the faculty of arts
and sciences in the said University for the promotion of
collegiate education.
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