206 DEBT——PUBLIC. [ART. 31

ARTICLE XXXI.

DEBT—PUBLIC.

10. Provision for refunding State bonds due in 1892. 11. State Penitentiary Loan.

12. Tax to pay interest and princi- pal on such loan.

State Refunding Bonds. '

1890, ch. 305.

10. The State bonds issued under the provisions of the act of
1890, chapter 305, for refunding State bonds due in 1892, shall
be payable at the pleasure of the State after the first day of
July, 1905, and are exempt from State, county and municipal
taxation.

State Penitentiary Loan.

1896, ch. 166.

11. The "Penitentiary Loan" of five hundred thousand dol-
lars as authorized by the Act of 1896, chapter 166, shall be pay-
able fifteen years after the date thereof, but shall be redeemable
at the pleasure of the State after the first day of July, 1906, and
shall be and remain exempt from all State, county and munici-
pal taxation.

Ibid.

12. This county commissioners of the several counties of this
State, and the mayor and city council of Baltimore city, are
hereby directed to levy the State taxes for the year 1897, and
annually thereafter, to be collected according to law, to the
amount of "fifteen-sixteenths of one cent, " on each one
hundred dollars, in addition to the amount now collected, to meet
the interest, and to create a sinking fund for the redemption of
said "Penitentiary Loan. "