172 LAWS OF MARYLAND. [Ch. 90]

equal monthly installments, during session of said University
in advance; and provided, further, that in awarding said full
Senatorial Scholarship the financial ability of the applicant,
his parents or those upon whom he depends for support shall be
taken into consideration.

SEC. 5. And be it enacted. In order to provide for facilities
especially adapted for the pursuit of said studies in applied
science and advanced technology, said The John Hopkins Uni-
versity shall construct buildings and provide equipment nec-
essary or appropriate for a department of applied science and
advanced technology at a cost of not less than six hundred thou-
sand dollars, said construction, equipment and expenditures
shall be made from time to time as the needs of said depart-
ment may require. It is the intention with reference to the
scholarships awarded to the counties and the City of Baltimore
that the entrance requirements to the technical course or courses
preparatory thereto at The Johns Hopkins University shall
begin where the graduating requirements of the approved high
schools of this State leave off, or the Baltimore Polytechnic
Institute, and it is further provided that the officials of Johns
Hopkins University shall report to the Board of Public Works
in detail as to the expenditure of the appropriation of $600,000
provided for in this act.

SEC. 6. And be it enacted, For the purpose of providing
funds for the payment of said sum of six hundred thousand dol-
lars, a loan is hereby created, to be called the Technical School
Loan of 1912, to the amount of six hundred thousand dollars.
Said loan shall bear date September 1st, 1912, shall be payable
as to principal fifteen years after said date, and shall bear
interest at the rate of four per cent, per annum, payable on the
first days of March and September in each year. Said loan
and the bonds or certificates issued as evidence thereof shall
be redeemable at par and accrued interest at any time after the
expiration of ten years from the date thereof, and on the first
day of March or September in such year. Notice of such inten-
tion to redeem shall be given by publication four times in some
daily newspaper published in the City of Baltimore, the first
publication to be made at least sixty days prior to the redemp-
tion date. Said loan and every part thereof and the interest
payable thereon, and the certificates or evidences thereof shall
be and remain exempt from State, county and municipal taxa-
tion.

The Governor, Comptroller of the Treasury and Treasurer
or a majority of them, are hereby authorized and directed to
have prepared proper bonds or certificates of indebtedness of